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Posts Tagged ‘fisker fires’

Fisker Facing Federal Lawsuit; Other Legal Action Could Follow

Bankruptcy the likely option, say sources.

by on Apr.08, 2013

Barring some last-minute rescue, don't expect to ever see the Fisker Atlantic make production.

If it were possible for things to get worse, well, it just might for fast-failing Fisker Automotive which, just last Friday, laid off three quarters of its employees, including its marketing, engineering and communications teams.

That move has triggered a federal lawsuit alleging the company failed to provide the required advance notice before releasing 160 of its 210 employees – who were also advised they would receive no severance pay.

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Meanwhile, several highly placed sources echoed their concerns that a bankruptcy filing is extremely “likely,” one executive who has had close scrutiny of Fisker’s books telling TheDetroitBureau.com, “I don’t see how they can avoid it.”

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Boeing’s Battery Problems Could Short-Circuit Battery Car Market

Unexplained fires raise new concerns about lithium-ion technology.

by on Jan.22, 2013

The Boeing 787 Dreamliner is the first commercial jet to make heavy use of lithium-ion power.

The ongoing investigation of faulty lithium-ion power packs on the new 787 Dreamliner could have implications far beyond the aerospace industry, some observers worrying that Boeing’s battery problems could short-circuit the nascent market for plug-ins, hybrids and other electrified automobiles.

Investigators in the U.S. and Japan have put a spotlight on the lithium backup power systems used on the new Boeing jet, linking the technology to several recent incidents, including a fire on one of the Dreamliners parked at a gate at Boston’s Logan field. Some observers are pointing to a series of fires involving the battery packs used in various electric vehicles, including the Chevrolet Volt and Fisker Karma.

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With the Boeing story getting a lot of airplay, “This is definitely an issue,” said Joe Phillippi, of AutoTrends Consulting. “This could be particularly bad timing,” the analyst cautioned, considering the push to increase sales of battery-based vehicles in the years ahead.

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Troubled Fisker Automotive Seeking Partner

Plug-in maker aims to cut costs, bring more cars to market.

by on Nov.30, 2012

Henrik Fisker with one of the first Karma plug-in hybrids.

Hoping to overcome a string of setbacks and get its product program back on track, battery-car start-up Fisker Automotive is quietly looking to line up a better financed partner.

There are no plans to sell the company, stressed founder and Chairman Henrik Fisker, but it appears the firm has recognized it will be difficult to go it completely alone, especially after having the Department of Energy freeze a low-interest loan that was supposed to help bring the maker’s second product, the Fisker Atlantic plug-in hybrid to market.

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Fisker has run into a series of setbacks this year, there were two recalls — including one involving a fire caused by a battery cooling fan — product delays, management shake-ups and the loss of its DoE loan. While its first product, the Fisker Karma, has won kudos from some reviewers, it has been harshly criticized by others, notably including the influential Consumer Reports magazine.

Acknowledging it’s been a tough year, Henrik Fisker told TheDetroitBureau.com in an exclusive interview that, “We’re actively engaged in conversations with potential strategic partners.”

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Former Chevy Volt Chief Named New Fisker CEO

Tony Posawatz aims to take struggling start-up to “next level.”

by on Aug.14, 2012

Tony Posawatz led development efforts for the Chevrolet Volt.

The man who helped turn a radical idea into the Chevrolet Volt will become the new chief executive of Fisker Automotive, the struggling California start-up hoping to make a go out of selling its own plug-in hybrid vehicles.

Tony Posawatz’s move to Fisker Automotive comes barely a month after he retired as chief of General Motors’ electric vehicle program.  He replaces Tom LaSorda, the one-time Chrysler chief executive, who had spent less than a year as Fisker’s CEO.

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The 52-year-old Posawatz brings to Fisker plenty of know-how and a solid reputation after 25 years with GM. But he lands at a company that is struggling to come up with the cash it needs to launch its second and perhaps most critical product line, the Atlantic. Complicating matters, Fisker is facing mounting concerns after a second of its original Karma models unexpectedly caught fire last week.

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