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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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Henrik Fisker Back in the Game with “Ultimate American Muscle Car”

His “Rocket” is ready to rock, with an L.A. Auto Show debut on tap.

by on Nov.12, 2014

The Fisker Rocket will make its debut next Thursday at the L.A. Auto Show.

Anyone who expected Henrik Fisker to simply ride off into the sunset following the failure of his eponymous battery-car company, Fisker Automotive, clearly hasn’t spent any time with the hard-driving Danish designer.

For some months, we’ve been hearing rumors of his return to the car business, and it now looks like it will officially come next week with the debut of a design dubbed the Rocket. The carbon fiber-bodied sports coupe is set to debut at the Los Angeles Auto Show on November 20 during an 11:05 AM news conference.

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A terse news release doesn’t tell us very much, but it appears what is being billed as the “Ultimate American Muscle Car” is a joint venture teaming the 51-year-old Fisker and the folks at Galpin Auto Sports, a customization center run by mega-dealership Galpin Motors in the L.A. suburb of Van Nuys. (more…)

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…)

Foes Fighting over Fisker’s Future Form

Two companies bidding on the EV maker’s assets in bankruptcy court.

by on Jan.10, 2014

The fate of Fisker and the Karma is being decided in U.S. Bankruptcy Court.

The Fisker saga continues today when a judge will decide if the assets of the now-defunct electric-vehicle maker can be purchased by one company or if they’ll be opened to an auction.

Hybrid Technologies, a company owned by Richard Li, a Hong Kong billionaire, is seeking to secure the assets, including the former General Motors plant in Delaware where Fisker planned to build a second model, for $75 million, according to court documents.

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However, there is a second plan being pulled together by Wanxiang Group Corp., which wants to assets put out for bid. (more…)

Remains of Fisker Automotive on Auction Block this Week

Feds hope to recover lost loan money.

by on Oct.07, 2013

It remains to be seen who - if anyone - will put the Fisker Karma plug-in hybrid back into production.

Only a handful of employees still report to work at the Fisker Automotive offices in Anaheim, California, and it has been more than a year since any of the failed maker’s Karma sedans have rolled off the assembly line at a plant in Finland. But the once-promising battery-car maker could get a new lease on life later this week.

Or, more precisely, a new owner could find ways to use Fisker’s assets, which include a second, partially completed plug-in hybrid, as well as a never-completed plant in Delaware.  They’ll be auctioned off on  Friday, October 11th in a move by the U.S. Department of Energy to recover $168 million in loans from a controversial government program intended to help spur the development of alternatively powered vehicles.

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Who will be bidding for the remains of the carmaker is unclear, but since Fisker collapsed last spring several names have been said to be interested. That includes former Chrysler and General Motors executive Bob Lutz, Wanxiang, the Chinese company that purchased Fisker’s battery supplier, the former A123 – now renamed B456 – and Richard Li, a Hong Kong billionaire. The company’s founder, Henrik Fisker, had also expressed interest in repurchasing the eponymously named automaker though it is unclear he has been able to line up any financial backing.

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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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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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Fisker Bankruptcy Could Come Within Days

GOP preparing House hearings on collapse.

by on Apr.10, 2013

Henrik Fisker is one of several current and former Fisker Automotive executives who will be asked to testify before the House Oversight Committee.

Lawyers for Fisker Automotive are putting the final touches on paperwork that could put the company into Chapter 11 bankruptcy protection within a matter of days, according to numerous sources in and outside the fast-fading battery-carmaker.

The move appears to be coming under pressure from the Department of Energy which is hoping to recoup more than $200 million in government-backed loans it initially provided to help spur the development of Fisker’s plug-in hybrid technology. The automaker has faced increasing turmoil in recent months and last week terminated three-quarters of its 160-member staff.

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The news is causing turmoil in Washington, where the DoE automotive loan program has long been criticized by Republicans. House GOP members are planning to press into Fisker’s problems with hearings by a key oversight committee later this month, with Fisker founder Henrik Fisker and current CEO Tony Posawatz reportedly among those being called to testify.

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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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