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Fisker Rockets Back with 725-HP Mustang

Limited sales set to begin in early 2015.

by on Nov.21, 2014

A project "born out of passion," says Fisker.

Henrik Fisker, perhaps best known for his abortive effort to launch the plug-in hybrid Fisker Karma sports car, is back in the limelight, but turning his talents towards a very different direction. The Fisker Rocket revealed at the Los Angeles Motor Show is all about performance, the Danish-born designer dubbing the modified Mustang “the ultimate American muscle car.”

The Rocket is a 725-hp rework of the all-new pony car Ford Motor Co. Fisker and partner Galpin Auto Sports have not only upgraded the performance of the 2015 Mustang but made a number of exterior modifications that give it both a more sinister and exotic appearance.

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“My jaw dropped. I got chills” when first shown the sketches former Aston Martin chief designer Fisker had in mind, said Beau Boeckmann, president of both Galpin Auto Sports and Galpin Motors, the world’s largest Ford dealer. For his part, Fisker explained that the Rocket is “really a program born out of passion.”

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Fisker’s Back! Makes Return at L.A. Auto Show

Galpin Auto Sports teams with Danish designer for new muscle car.

by on Oct.23, 2014

Fisker founder Henrik Fisker is debuting a new muscle car at the L.A. Auto Show next month.

Less than two years after stepping down from his namesake company, Henrik Fisker is stepping back onto the automotive stage by joining forces with a California-based mega-dealer to produce the “Ultimate American Muscle Car.”

Danish designer Fisker is teaming with Galpin Motors in a pair of back-to-back vehicle debuts at the L.A. Auto Show next month, but aside from rumors about a new muscle car, details of what’s coming aren’t readily available.

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The preliminary schedule for the show reveals that Fisker has consecutive press conferences for “vehicle debuts,” but lists Galpin Motors and Galpin Auto Sports as the co-presenter for the slots. (more…)

Karma Making a Comeback

Fisker’s stunning plug-in hybrid may return in 2015.

by on Apr.23, 2014

The Karma plug-in hybrid is taking a second run in the U.S. starting sometime in 2015.

Karma is back! The Fisker Karma, that is.

Fisker Automotive’s electric vehicle boasted cutting edge design, but couldn’t overcome production and quality issues that sucked up millions of dollars and led to its demise. Enter Chinese auto supplier Wanxiang, which bought the company out of bankruptcy a few months ago and is looking to resurrect the plug-in hybrid similar to the Chevy Volt by the middle of next year.

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According to Fisker’s interim president, Tim Brown, the Karma will back next year with two siblings not far behind: the Surf, a $100,000 station wagon-like version of the Karma and the Atlantic, a smaller sedan that was originally stated to be the follow up to the Karma at about $50,000. (more…)

Sale of Delaware Plant Brings an End to Fisker Saga

Wanxiang affiliate buys former GM facility for $18 million.

by on Mar.25, 2014

Fisker initially attracted the attention of a number of high-profile buyers, including actor Leonardo DiCaprio.

The final chapter on Fisker Automotive closed last week when the sale of the Delaware plant the defunct electric vehicle maker bought to make its second-generation vehicle was sold for $18 million.

The plant was sold for the same amount it was purchase by WX Delaware Real Estate Holding Co., which is a subsidiary of Wanxiang America, Inc., according to USA Today.

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Wanxiang America, a unit of China’s largest auto parts supplier, won an auction for Fisker in bankruptcy court last month for $149.2 million. It outbid another Chinese company, Hybrid Tech Holdings L.L.C., for the assets. Hybrid bought the Fisker’s loan from the U.S. Department of Energy, hoping to leverage that ownership into getting the entire company. (more…)

China’s Wanxiang Wangles Control of Bankrupt Fisker

Wins auction with bid of nearly $150 million.

by on Feb.17, 2014

Fisker initially attracted the attention of a number of high-profile buyers, including actor Leonardo DiCaprio.

Bankrupt battery-carmaker Fisker Automotive could get a new lease on live.  After an unexpected, last-minute surge in bidding, China’s Wanxiang Group won an auction for the remaining assets of the California-based maker for $149.2 million.

That was nearly six times as much as it originally appeared the once-promising Fisker might go for.  The company originally expected its assets to go to Japan’s Hybrid Tech Holdings for a much more modest $25 million after filing for bankruptcy last November.  Creditors had objected to what they saw as a sweetheart deal and U.S. Bankruptcy Judge Kevin Gross agreed to let other interested parties bid for Fisker’s remains.

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“This is a great result for all Fisker stakeholders,” Marc Beilinson, the carmaker’s chief restructuring officer, said in a statement issued after the announcement – which is expected to be finalized by the Delaware-based bankruptcy court tomorrow.

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Henrik Fisker Hopes to Buy His Battery-Car Company Back

Fisker Automotive founder reportedly teaming up with Hong Kong tycoon.

by on May.28, 2013

Fisker Automotive founder Henrik Fisker with the $103,000 Fisker Karma during better times.

Forced out earlier this year after a disagreement over management policies, Fisker Automotive founder Henrik Fisker is hoping to regain control of the struggling maker of plug-in hybrid vehicles which is expected to file bankruptcy unless it can quickly find a White Knight to cover its mounting debts.

Henrik Fisker, who first made his name as an automotive designer, is reportedly teaming up with Hong Kong billionaire Richard Li – an early investor in Fisker Automotive. While Fisker was not immediately available to comment, reports on the Reuters news service indicate they would like to take over the automaker without forcing it into bankruptcy.

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They would be one of several groups company insiders say are interested in taking over Fisker Automotive which launched sales of its Karma plug-in hybrid vehicle early last year. Among the others, former General Motors “car czar” Bob Lutz has teamed up with a Chinese automotive supplier to place a $20 million bid for Fisker post-bankruptcy.

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Lutz Looking to Buy Fisker

Former GM “car czar,” Chinese supplier reportedly offer $20 mil for failed plug-in maker.

by on May.24, 2013

Former GM car czar Lutz meeting with reporters at the Detroit Auto Show.

General Motors’ former “car czar” and Vice Chairman Bob Lutz reportedly is part of a group making a bid to purchase the assets of fast-failing plug-in carmaker Fisker Automotive.

The $20 million offer would be part of a pre-packaged bankruptcy deal, according to the Reuters news service. Fisker, which produces the $100,000 Karma plug-in hybrid sports car, laid off three-quarters of its staff in April and senior executives subsequently told a Congressional committee that a Chapter 11 filing was quite likely to follow.

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Credited with the original concept that eventually became the Chevrolet Volt plug-in, Lutz did not return a request for comment. But he recently expressed his interest in Fisker through a bylined column on the Forbes blog.  He described the Karma as “quite possibly the most beautiful four-door sedan ever,” and referred to its underlying technology as “ground-breaking.”

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Bankruptcy Real Possibility, Fisker COO Concedes

Maker, Obama Admin hit hard during House hearing.

by on Apr.25, 2013

Shown here with the $103,000 Karma, former Fisker Automotive Chairman Henrik Fisker was grilled on Capitol Hill.

Fisker Automotive may be running out of options other than bankruptcy, the floundering battery-carmaker’s chief operating officer conceded during an often contentious hearing on Capitol Hill.

The maker — which recently laid off 75% of its U.S. staff and this week saw the U.S. Energy Department seize the company’s emergency reserve funds – has been at the heart of a partisan battle over a program created by the Obama Administration to support clean car technologies. The GOP-controlled House Oversight Committee ordered three current and former Fisker executives, as well as the head of the Energy Dept. loan program to testify about the likely collapse of the automaker.

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“I do not know exactly what the future holds for Fisker Automotive, including whether the company will be able to find new investors,” said COO and co-founder Bernhard  Koehler, “or whether the company may be obliged to seek bankruptcy protection to facilitate its continued efforts to preserve value for all stakeholders.”

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Energy Dept Seizes $21 Mil from Fisker Automotive

Battery-carmaker facing Chapter 11, founder set to testify before House.

by on Apr.23, 2013

Henrik Fisker is one of several current and former Fisker Automotive execs called to testify before Congress.

Even as the company’s founder is set to testify before a House hearing, the U.S. Department of Energy has seized $21 million from Fisker Automotive to apply towards repayment of a federal loan the floundering battery-car manufacturer received.

The move appears to have emptied what was left of Fisker’s fast-dwindling cash assets, a further nudge towards bankruptcy, according to industry observers. The maker has been expected to file ever since laying off 75% of its 160-member staff earlier this month.

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The collapse of Fisker is raising questions not only about a DoE loan program designed to help fund the development of advanced, high-mileage vehicles but what happened with the money Fisker tapped from its loan – as well as an estimated $1.2 billion it received from private investors.

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Battery-Carmakers Fisker, Tesla Dealt Legal Blows

Fisker wins money it may never collect, Tesla slammed for wrongful termination.

by on Apr.18, 2013

Former Tesla flak David Vespremi inside his new Epic Torq roadster. Photo Courtesy: InsideEVs.com

It hasn’t been a good week in court for either Fisker Automotive or Tesla Motors, both companies handed unexpected legal setbacks.

For Fisker, a federal bankruptcy judge ruled the maker will get only a fraction it had hoped for from its battery supplier, the former A123 Systems. That could make it all the more difficult for the plug-in hybrid maker to forestall its own plunge into Chapter 11, something now widely expected.

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As for Tesla, its former communications chief has finally prevailed in a lawsuit alleging he was wrongly dismissed from the company in what has been described as a “Stealth Bloodbath,” and stands to be awarded more than $200,000.  But the case could set a precedent for 99 other workers who’ve filed identical claims against the electric vehicle manufacturer.

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