Fisker

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 downfall

April 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 Fisker

April 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 »

 

China's Geely won't make final bid for Fisker stake, report says

8:33 am U.S. ET | March 18, 2013
China's Zhejiang Geely Holding Group will not bid for a majority stake in Fisker Automotive mainly due to the troubled U.S. electric car maker's obligations to the U.S. government, according to two sources familiar with the matter.... Read More »

 

Fisker without Fisker: What's next?

12:01 am U.S. ET | March 18, 2013
What happens to Fisker Automotive now that Henrik Fisker is gone? Having produced no cars since last summer and scrambling to find new investors, Fisker's fate may be to pawn its technology and assets to Chinese automaker Zhejiang Geely.... Read More »

 

DAVE GUILFORD

While U.S. shrugs, China sees gold in green tech

1:32 pm U.S. ET | March 14, 2013
I'm on the outside looking in, of course, but it's not real hard to figure out what's probably happening at Fisker Automotive. Co-founder Henrik Fisker quit his namesake company this week, citing disagreements with management.... Read More »

 

Henrik Fisker quits Fisker Automotive in dispute with management

10:41 am U.S. ET | March 13, 2013
Henrik Fisker, the former BMW designer who co-founded Fisker Automotive, has resigned from the plug-in hybrid car maker, citing discord with company executives. Fisker, who has been executive chairman for the past 13 months, wrote in an e-mail that the main reasons for his departure were “several major disagreements” with “Fisker Automotive executive management on the business strategy."... Read More »