How will a federal government that is partially shut down sell an automaker that is all-but-shut-down? We'll find out Friday when the Department of Energy starts an auction for what is left of Fisker's assets, according to TheDetroitBureau.com. The DOE said last month that auctioning off the $168-million remainder of Fisker's loan obligation was the, "best possible recovery for the taxpayer."

Fisker is not yet technically bankrupt, but the company last built a car over a year ago. Despite Fisker's problems, there is still something of value there, including plans for the Atlantic plug-in hybrid and an old General Motors plant in Delaware. Potential bidders should be aware that Fisker owes $1 million in local taxes in the state, according to Delaware Online.

The deadline to declare yourself an interested bidder passed on Monday. Last month, an offer to take control of what's left of Fisker was sent to the DOE by German investors Ingo Voigt and Fritz Nol. Given the upcoming auction, we have to assume that deal was not accepted. TheDetroitBureau.com lists Bob Lutz, Wanxiang and B456 as entities that have previously expressed interest in Fisker, but we'll have to wait until the end of the week to see who – if anyone – snaps up the company's assets.


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    • 1 Second Ago
  • 49 Comments
      Jasonn
      • 1 Year Ago
      No body really cares about Fisker anymore...
      bchreng
      • 1 Year Ago
      Where did they go wrong and could the same thing happen to Tesla?
        m_2012
        • 1 Year Ago
        @bchreng
        Not even close.
        paulwesterberg
        • 1 Year Ago
        @bchreng
        Fisker focused primarily on vehicle aesthetics and design. Tesla is primarily focused on vehicle engineering, performance, technology and aerodynamics.
          brandon
          • 1 Year Ago
          @paulwesterberg
          And yet they still failed on the aesthetics and design. Along with the other things.
        mawhalen53
        • 1 Year Ago
        @bchreng
        You could write a long book answering that first question, but in a single sentence: Fisker and managers promised far too much to investors, and did not have the skills to start a business.
      Spec
      • 1 Year Ago
      Jeez, someone put them into bankruptcy already. They are staggering around like a zombie.
      Christopher Evans
      • 1 Year Ago
      I think Tesla should buy them, become GEM, General Electric Motors.
        paulwesterberg
        • 1 Year Ago
        @Christopher Evans
        Why? What does Fisker offer of value? FYI: Fisker was only licensing their drive-train tech. Tesla has better tech and they don't need Karma-like designs.
          m_2012
          • 1 Year Ago
          @paulwesterberg
          You mean the vaporware IP?
        Christopher Evans
        • 1 Year Ago
        @Christopher Evans
        lol, it was a joke... GE GM...
          raktmn
          • 1 Year Ago
          @Christopher Evans
          Ah, but you know what they say. If you have to explain the joke...... =)
      raktmn
      • 1 Year Ago
      I still don't know how this is supposed to play out. Buying the company doesn't change the obligation to pay the DOE loan, the new owner would still owe the entire loan balance. If the DOE sells of the loan to someone else besides the folks who bought Fisker, the new Fisker owners would be obligated to some yet-to-be-determined third party to pay off the entire loan balance. Conversely, buying Fisker's DOE loan doesn't mean you automatically also get to buy Fisker as a company, you just get the right to try and collect the loan from Fisker. But Fisker could just turn around the minute the DOE loan was sold, and go through bankruptcy and wipe out that DOE loan. So buying that Fisker loan without buying Fisker as a company could lead to getting pennies on the dollar. How can anyone bid on the loan without having a contract in place with Fisker to buy the company? And how can anyone buy Fisker without already having an agreement with the DOE to buy the loan at a discount? I just don't see how this is supposed to play out.
        • 1 Year Ago
        @raktmn
        [blocked]
          raktmn
          • 1 Year Ago
          No, that's what is odd. The DOE isn't selling the loan to just anybody who buys Fisker. The DOE is putting the loan out to auction, and selling it to the highest bidder. There is absolutely no connection between buying the company, and buying the DOE in the action. In a home foreclosure auction, both the loan is satisfied (either at a discount or a full value), and full ownership of the house goes to the bidder both at the same time. They are done together in a single transaction. Very different.
      billfrombuckhead
      • 1 Year Ago
      I still think Ford should buy it and make it the top of the line Lincoln. I guess Ford lost the right to "Continental" to Bentley so they can just call it the Lincoln Karma and get the old rivalry with Tesla back up. It's a better plan than whatever Mulally's doing right now.
        billfrombuckhead
        • 1 Year Ago
        @billfrombuckhead
        What's Ford doing now for a top of line luxury car? Why not go after Tesla on the cheap and quick? Doing this would also put the rear wheel drive question in the rear view mirror while setting the stage for smaller electric Lincoln cars. Maybe they can have a starter electric to compete with the Leaf eventually, just call it the Mercury. Lutz made a gas burner out of this car, maybe they make a few of the those as well.
          Dean Hammond
          • 1 Year Ago
          @billfrombuckhead
          What does it matter when they are making bank....is Tesla making money on THEIR CAR SALES?......as far as Lincoln gos, you cant have pudding if the main meal isnt good enough ( if you get my drift ) they have been concentrating on their CORE market.....Lincoln will come, but it will take time....they are obviously playing it conservative, and look, they hung around longer than Fisker who went the risky route....
          billfrombuckhead
          • 1 Year Ago
          @billfrombuckhead
          Buying Fisker would also give Lincoln a new design language. It would give Ford a car the 1% can go to movie openings and fancy restaurants in Buckhead might park them up front with the real luxury cars and the MOPAR SRT's. Today's Lincoln core business=whored up 4 cylinder commodity cars
          billfrombuckhead
          • 1 Year Ago
          @billfrombuckhead
          Lincoln's core market? Glorified commodity cars? Are they now the American Acura? Nobody aspires to own any of today's Lincoln's.
        Dean Hammond
        • 1 Year Ago
        @billfrombuckhead
        ?....have you actually researched Fords bottom line?....................
        Spec
        • 1 Year Ago
        @billfrombuckhead
        Well, a Fisker brand certainly might be a step up from Lincoln.
          Dean Hammond
          • 1 Year Ago
          @Spec
          yeah, check out fiskers sucess.......ahem, MkZ is exceeding expectations, MkX doing well and MkC on the way....and there is RUMOURS of a RWD platform and a high performance coupe....like i said rumours. we will see, but Lincoln WILL be back...just going to be a while thats all....
      danfred311
      • 1 Year Ago
      It's like Better Place, it's just not worth anything because you can't reasonably resume it with any hope for profitability. Maybe some parts but not in the millions. Jack Rickard might be interested in some spare batteries and maybe motors.
      dude
      • 1 Year Ago
      justin beaver should buy the brand
      dlubeck_mbz
      • 1 Year Ago
      It's hard to believe that Richard Li has continued to pay the exorbitant salaries for the few remaining Fisker employees. Why would he be throwing his money away like that unless he knows he and Henrik will somehow end up with the company in the end. Seems a bit strange.
        brandon
        • 1 Year Ago
        @dlubeck_mbz
        It's called fraud. Li and Henrik both should be looked into personally. Nothing in this deal adds up. How do you get 1 billion in seed money and not end up with a semi viable product that doesn't at least break even. Nothing about this deal works.
      Terry Actill
      • 1 Year Ago
      Justin Bieber has one. Enough said.
        Jonathan Ippolito
        • 1 Year Ago
        @Terry Actill
        Actually he sold his Fisker last year .
          Letstakeawalk
          • 1 Year Ago
          @Jonathan Ippolito
          Beiber still owned his Karma back in July, when his friend got a ticket in it.
          raktmn
          • 1 Year Ago
          @Jonathan Ippolito
          I hate that being a green car enthusiast has now forced me to know about the trivial activities of Justin Bieber's life.... =)
      • 1 Year Ago
      [blocked]
      thecornfedmule
      • 1 Year Ago
      I hope in the near future the Karma's value sinks enough that I can grab one and throw in a LS-x! Style and power, baby!
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