Fisker Automotive looks to be headed towards bankruptcy protection. Automotive News reports the automaker could file Chapter 11 as soon as this week as the US Department of Energy attempts to get the company to give back around $200 million in federal loans. The manufacturer's lawyers have already drawn up the necessary paperwork and are ready to file within the next few days, according to an unnamed source. The DoE is pushing Fisker toward bankruptcy after months of bickering between the two parties. Fisker had been courting buyers in both China and Europe in an attempt to stay solvent, but failed to bring in the necessary funds.

As a result, Fisker hasn't built a single vehicle since last summer, and no one has stepped up to buy any more of the $100,000 hybrid vehicles. Last Friday, the company laid off some 75 percent of its workforce in the US, leaving only around 50 executives behind to avoid breaching its contract with the DoE. Right now, the company has around $30 million in cash on hand and is staring down the barrel of a $10 million DoE loan payment in a few weeks.


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  • 78 Comments
      ValentinoVeisee
      • 2 Years Ago
      I hope this company goes out of buisness this has to be the worst car company ever made. Real car enthusiast dont buy trash like this.
      Maddoxx
      • 2 Years Ago
      Good Riddance, as I've said all along this was a terrible idea to have Fisker Borrow tax payer money and grants to make cars for the super rich. I still laugh when I think of MarcoPolo, Grendal, and letstakeawalk defend Fisker Automotive. Bunch of fools sipping the Kookaid.
      W. Gregory
      • 2 Years Ago
      Dang it...I was planning on buying one next week
      audisp0rta4
      • 2 Years Ago
      That's just business. Some make it and some don't. There was a Karma in my neighborhood. I stopped seeing it around, and shortly thereafter I saw a Tesla Model S driving around. Now there are at least 3 Model S' running around my neighborhood. I'm sure this is happening all over the place, but now it makes me wonder what sort of collector value the Karma will have in the coming years.
      Avinash Machado
      • 2 Years Ago
      Goodbye Fisker.
      Marcopolo
      • 2 Years Ago
      One valuable thing about a chapter 11 bankruptcy filing, is a lot of accurate information will become available for public analysis. The a clearer picture should emerge. This will be useful for the plethora of writers, assembling around the dying company eager to write articles and books about the causes and personalities behind Fisker Automotive. For motoring writers, (and others) Fisker is a terrific boon ! The first books will be written, only to be 'debunked' by others, and so on....! Every loss is someone's gain....
      Britt Benston
      • 2 Years Ago
      I see Karmas on the road a lot. Until I see a La Ferrari, these are about the prettiest on the road. They have a great presence. Nissan Renault and their dealer network and battery supplier and engines could do a lot with the Fisker brand. They'd get a great deal on a lot of engineering on the chassis, body, materials, tech and design.
        montoym
        • 2 Years Ago
        @Britt Benston
        The only Karmas I've ever seen have been sitting in a dealership window near downtown Denver (at the Rickenbaugh showroom) for a long time now. I've never seen one on the road. I have however seen a few Tesla Model S's, just spotted one this weekend as well. The Model S is just a better looking car overall IMO.
      KnightTime
      • 2 Years Ago
      Fisker "Karma" indeed...
      Paul B
      • 2 Years Ago
      Well. that didn't take long did it.
      AngeloD
      • 2 Years Ago
      ANother Obama Administration "green energy" success story. No, really. The intent of the Obama Administration with the loans and grants to these green energy companies like Fisker, Solyndra, A123, etc, is to payoff Obama Campaign contributors and bundlers, and launder tax money through them back to the Democratic Party. This is a success story in within that context.
        Grendal
        • 2 Years Ago
        @AngeloD
        Been getting your news from Sarah Palin? She agrees with you, by the way. I like how you pick out the few companies that have failed and ignore the 95% of the companies that received money and are doing just fine. The ATVM loan program, created by G. W. Bush, is not a "green" program. It was a program to advance America's position in the worldwide automotive market by improving technology. It's in its name.
          AngeloD
          • 2 Years Ago
          @Grendal
          @Grendal: Riiiiiight...there's no corruption here. It's all just a vast right-wing conspiracy to defame our first Black president...in fact...not only is it all Bush's fault..it's racism to even entertain the thought that Obama should be held to account. Let's just ignore the presence of so many Obama campaign mega-contributors and bundlers on the corporate boards of these failed green energy startups...cause it's just plain racism to even mention it...
          Bootkicker
          • 2 Years Ago
          @Grendal
          Why do you moonbats obsess over Sarah Palin when ever someone dares to bring up the monstrous spending waste of the Obama Administration.? Nothing she is doing effects yoru life in anyway, unlike the mountains of debt and third world economy that our children will inherit thanks to old Barry. I just love the old liberal argument of "Bush/Regan started it" . Like with the Obama phone. Originally it was just supposed to be LAN lines so people in rural areas could call 911. Now it has become a billion dollar smart phone vote buying scheme. Got to make sure the people on food stamps can download the lasted Jam from Jay-Zee! The loan program started by Bush didn't waste 1/10 that is has under Obama, nor did the CEOs of the companies getting the loans contribute mightily to his election campaign. And Obama is the one constantly running his mouth about green energy companies, and killing domestic energy that actually works. Nice try zippy.
          Grendal
          • 2 Years Ago
          @Grendal
          You call others moonbats when your whole point is completely knee-jerk with no reasoning. Get some long term vision, Bootkicker. See my point above. It is completely hypocritical to point a finger at the Left and say they spend frivolously when the Right does exactly the same.
          Grendal
          • 2 Years Ago
          @Grendal
          Kleiner Perkins was a big investor of Fisker. Al Gore is on their board. I know that. Kleiner Perkins just lost a lot of money by Fisker folding. It does not change the fact that the loan program was created by Bush. Why? To improve Americas position in the worlwide auto market. Even that is pushing it though. The loan program was created by Bush's people to give a bunch of money to Ford ($5.9 billion) so they didn't go bankrupt like GM. It was never intended to be a green program. Only Ford, Nissan, Tesla, and Fisker ever got any money from the $25 billion loan program. Only $8 billion was ever given out because you had to match whatever funds you were given. Only a major player can do that. Most of you that want to blame Obama for this forget that it was his DOE that actually cut the loan off at $193 million out of the $529.6 million they were originally issued. You should be happy about that. If this were an elaborate scheme to funnel money then why would they put a stop to it? Hmm? The Right should be all for EV and EREV and they should be taking credit for the success of the ATVM loan program. So far it has been 97.5% successful and the Bush administration is responsible for that. Instead, the Right has incorrectly lumped the ATVM program in with "left green money" so they could tie it to Solyndra and try and bash the President. Big mistake that will come back to haunt them in the long run. EV's and EREV's are the future and they have positioned themselves to be against them. That puts them against America's future just so they could try and attack Obama. They lost. They should be working hard to correct that problem to position themselves better for the next election. At this point, who cares about mega-campaign contributors, the election is over. Move on.
      • 2 Years Ago
      [blocked]
        Grendal
        • 2 Years Ago
        You must have got that information from Sarah Palin. You're a fan of hers I take it?
      That Guy
      • 2 Years Ago
      Good, I hope they completely go away. Terrible cars, extremely overpriced, and a complete farce. Hopefully Tesla is close behind too.
        Shiftright
        • 2 Years Ago
        @That Guy
        What the hell is wrong with you that you wish a new American car company to sink taking away jobs in the process? Have YOU started up a new car company lately? No, you haven't, you're too busy pissing on everybody on the internet. Fiskers are flawed certainly, but nonetheless impressive in many ways, and sorry to spoil your petty hate fest but Tesla is doing quite well and will continue to do so I'm sure. I hope YOU completely go away...
        m_2012
        • 2 Years Ago
        @That Guy
        Tesla is about the ONLY car company making a profit right now.
        Caarz
        • 2 Years Ago
        @That Guy
        What?!
        Grendal
        • 2 Years Ago
        @That Guy
        You're uninformed and anti-American.
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