FiskerTesla says it paid back entire DOE loan today 10:48 am U.S. ET | May 22, 2013  Tesla Motors today said it paid off the entire balance of its federal government loan given as part of a Department of Energy program to spur development of alternative energy vehicles.... Read More »
Lutz's VL Automotive, Chinese supplier bid for Fisker, report saysMay 22, 2013 06:01 CET  A boutique carmaker led by a former GM executive Bob Lutz and China's largest auto parts supplier submitted an offer to buy cash-strapped automaker Fisker Automotive, people familiar with the matter told Reuters.... Read More »
Lutz's VL Automotive, Chinese supplier bid $20 million for Fisker, report says 2:02 pm U.S. ET | May 21, 2013  A boutique carmaker led by a former GM executive Bob Lutz and China's largest auto parts supplier submitted an offer of $20 million to buy cash-strapped automaker Fisker Automotive, people familiar with the matter told Reuters today.... Read More »
Ex-battery maker B456 wins court approval for bankruptcy plan 3:19 pm U.S. ET | May 20, 2013 B456 Systems, the bankrupt electric-car battery maker formerly called A123 Systems, won court approval of a plan to exit bankruptcy that pays creditors from the proceeds of selling virtually all its assets.... Read More »
FINAL ASSEMBLY Fisker's funk causes prices to plunge 12:01 am U.S. ET | May 6, 2013 This isn't just a tough time for Fisker Automotive (a Chapter 11 filing seems likely); it's also rough out there for anyone trying to sell a new or used Karma hybrid luxury sedan.... Read More »
Big plans, bad karma: How Fisker fell apart 12:01 am U.S. ET | April 29, 2013  The roots of Fisker Automotive's precarious state go back several years, to a time when the company and the Department of Energy established unrealistic sales goals for an unknown automaker working with tricky hybrid technology.... Read More »
Fisker, Energy Department blasted over loan to struggling firm 4:07 pm U.S. ET | April 24, 2013  Struggling Fisker Automotive took a bludgeoning today on Capitol Hill from top congressional Republicans who compared Fisker to failed automotive startups of the past and lambasted the Department of Energy for allowing the electric car producer to draw down nearly $200 million in taxpayer-funded loans.... Read More »
Henrik Fisker: 'Confluence of events' led to company's downfallApril 24, 2013 06:01 CET  Henrik Fisker's testimony before the U.S. Congress today will paint the automaker he founded as a victim of "a confluence of events" and as an enterprise that is capable of being saved.... Read More »
Henrik Fisker: 'Confluence of events' led to company's downfall 3:29 pm U.S. ET | April 23, 2013  Henrik Fisker's congressional testimony on Wednesday before the House Oversight and Government Reform Committee will paint the automaker he founded as a victim of "a confluence of events" and as a still-salvageable enterprise.... Read More »
Energy Department recovers $21 million from Fisker 6:12 pm U.S. ET | April 22, 2013  The Department of Energy says it recovered $21 million in cash from struggling Fisker Automotive that will go toward repaying nearly $200 million in loans extended under a federal program to spur advanced vehicle development.... Read More »
MARK RECHTIN Get ready for Fisker's public flagellation 12:01 am U.S. ET | April 19, 2013  Top executives from Fisker Automotive are going to be called before Congress on April 24 for a public flagellation. The reason: Alleged profligacy with $193 million of taxpayer money from Department of Energy loans that are unlikely to be repaid.... Read More »
Fisker was allowed to draw on U.S. loan after default, report says 4:19 pm U.S. ET | April 18, 2013  Fisker Automotive was allowed to keep using money from an Energy Department loan after violating its terms multiple times, according to a research report.... Read More »
Former A123 battery maker's settlement with Fisker approved 12:19 pm U.S. ET | April 17, 2013 B456 Systems, the bankrupt electric-car battery maker formerly called A123 Systems, received approval of a settlement with Fisker Automotive, reducing its claims by 89 percent to $15 million.... Read More »
EDITORIAL Let consumers pick technology winners, losers 12:01 am U.S. ET | April 15, 2013 It is inefficient -- and wrong -- for government to use taxpayer dollars to pick winners or, in Fisker's case, losers. In a market economy, it is the consumer who decides.... Read More »
Probe of U.S. electric-car loans pledged by Republican Issa 12:11 pm U.S. ET | April 10, 2013  A House panel chairman said he'll accelerate a probe into the Energy Department's loans for alternative-fuel vehicles after Fisker Automotive dismissed most of its workers and hired bankruptcy lawyers.... Read More »
Fisker preparing to file Chapter 11 as soon as this week, report says 4:04 am U.S. ET | April 9, 2013  Fisker Automotive could file for bankruptcy protection as soon as this week as the U.S. Department of Energy pressures the green-car startup to pay back nearly $200 million in government loans, Reuters reported today.... Read More »
Fisker's job cuts fuel political debate on green energy projects 10:36 am U.S. ET | April 8, 2013  Fisker Automotive's dismissal last week of 75 percent of its employees, after it once received federal loans to build luxury plug-in cars, is adding to the political debate over the federal government's funding of clean-energy programs.... Read More »
Massive Fisker layoffs may be prelude to bankruptcy 12:01 am U.S. ET | April 8, 2013 Absent an 11th-hour financial lifeline, a bankruptcy filing for Fisker Automotive looks likely soon, company sources said after the startup maker of hybrids fired three-quarters of its employees last Friday.... Read More »
Fisker faces suit alleging failure to give advance notice of dismissals 12:01 am U.S. ET | April 6, 2013  Fisker Automotive, hours after dismissing about 75 percent of its employees, was hit with a federal lawsuit accusing the company of breaking the law that requires employers to give workers advance notice of mass layoffs.... Read More »
Fisker lays off 75% of its employees amid financial woes 12:20 pm U.S. ET | April 5, 2013  Fisker Automotive, the plug-in hybrid sports car maker grappling with financial woes, today laid off 75 percent of its more than 200 employees. About 53 senior managers and executives have been retained to pursue buyers for the company's assets.... Read More »
Former A123 battery maker settles supply claim with FiskerApril 4, 2013 06:01 CET The bankrupt electric-car battery maker formerly called A123 Systems, renamed B456 Systems, reached a settlement in which Fisker Automotive reduced its claims by 89 percent to $15 million. The accord with the bankruptcy case's unsecured-creditors' committee will substantially cut Fisker's $140 million in claims stemming from a rejection of its supply agreement and alleged breach of warranty obligations, according to court documents filed Tuesday in Wilmington, Del.... Read More »
Former A123 battery maker settles supply claim with Fisker 5:19 pm U.S. ET | April 3, 2013 The bankrupt electric-car battery maker formerly called A123 Systems, renamed B456 Systems, reached a settlement in which Fisker Automotive reduced its claims by 89 percent to $15 million. The accord with the bankruptcy case's unsecured-creditors' committee will substantially cut Fisker's $140 million in claims stemming from a rejection of its supply agreement and alleged breach of warranty obligations, according to court documents filed Tuesday in Wilmington, Del.... Read More »
Fisker furloughs U.S. workforce for a week 9:45 pm U.S. ET | March 27, 2013  Fisker Automotive, the struggling maker of $100,000 plug-in hybrids whose namesake founder abruptly resigned earlier this month, has furloughed its entire workforce in the United States this week to preserve cash as it seeks a financial lifeline.... Read More »
FINAL ASSEMBLY Sources: Fisker battle was about government role 12:01 am U.S. ET | March 25, 2013 What caused the abrupt resignation of Henrik Fisker from Fisker Automotive this month? A dispute with CEO Tony Posawatz over strategy, including whether to accept more government money, sources told Reuters.... Read More »
Funding rift prompted resignation of Fisker founder, report says 11:00 am U.S. ET | March 19, 2013  The abrupt resignation of Fisker Automotive's founder Henrik Fisker was prompted by disagreements with the company's chief executive over funding and operational strategy, two people familiar with the matter said.... Read More »
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