The history of automotive startups is littered with the carcasses of companies that never achieved high production with mainstream success. Tesla CEO Elon Musk would do well to look for lessons from the six notable failures highlighted here.
FISKER AUTOMOTIVE INC.
Fisker Automotive ran into production problems during development of the Karma plug-in hybrid sedan. The automaker then missed development and sales benchmarks required to secure more government funding, leading to a downward spiral of layoffs, default on government loans and eventually bankruptcy. Fisker’s founder, Henrik Fisker, parted ways with the company last year.