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Fisker is a joint venture company between Fisker Coachbuild and Quantum Technologies to produce a plug-in hybrid called the Karma. The Karma has a claimed range of about 50 miles before a range-extending gas engine begins recharging the batteries.
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0Internal documents show Fisker lost $35,000 on each Karma 1371480240
Anyone looking for a chilling plug-in vehicle warning tale should check out this detailed Reuters article, which digs into the financial history of Fisker Automotive and reveals that the company lost around $35,000 per vehicle. That number comes from "internal financial statements and interviews with former Fisker executives," Reuters reports, quoting a ...
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Did Fisker put too much blame on A123 Systems for overall failure? 1370780940
Bad business partner or scapegoat? When it comes to battery maker A123 Systems and its role in Fisker Automotive's troubles, one conveniently anonymous source says its the former, alleging that the extended-range plug-in vehicle maker had plenty of problems of its own, Fox Business says. Executives at Fisker, which made the high-end Karma, started ...
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What $20 million means to both Tesla and Fisker 1369350840
When is $20 million not equal to $20 million? When, for some, it's an interest payment and, for others, it's all someone else thinks they're worth. Here's how that one number means two totally different things to two different green car companies. Speaking to Bloomberg Television about the early repayment of Tesla Motors' DOE loan, CEO Elon Musk said ...
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A123 Systems, now B456, wins court approval to exit bankruptcy 1369245780
It's official: A123 Systems Inc. is passing through its final phase. The bankrupt lithium ion battery maker, now going by the name B456 Systems Inc., has won court approval for its plan to exit bankruptcy that pays off creditors from proceeds gained by selling off virtually all of its assets. Objections previously made by creditors had been resolved ...
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Bob Lutz and VL Automotive, Wanxiang trying to buy Fisker 1369171620
Chinese company Wanxiang was in the news earlier this year, as it moved to acquire bankrupt automotive battery company A123. Turns out, while that was taking place in the public eye, Wanxiang was also working with VL Automotive – of Bob Lutz and Destino fame – to try and buy out Fisker Automotive. According to unnamed sources speaking to ...
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Mysterious Hybrid Support Solutions arises to support Fisker Karma, charges $4k for membership 1369051200
It's hard to get sympathy when you have the funds to lay out north of $100,000 for a car, but for those Fisker Karma owners feeling blue, Hybrid Support Solutions (HSS) is there for you. For $3,995, of course. Karma owners can pay $3,995 for a subscription that gives them a chance to get service consulting for a car whose maker is a little too busy with ...
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Report: Fisker Karma prices tanking on used market 1368794700
Buying into a new, fledgling automaker is always a big risk – the early-adopter upside has the potential to be great, but the downside can look like the mother of all hangovers. Unsurprisingly, that's the unpleasant financial reality facing Fisker Karma owners as they look to unload their extended-range electric sedans while the company's future ...
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Report: Fisker-based Destino still in the works, hundreds of Karma owners seek conversion 1367845980
Wards Auto reports the VL Productions Destino is still moving forward. As you may recall, that machine takes a Fisker Karma hybrid, guts the drivetrain and replaces it with a honking 556 horsepower V8 from General Motors. Bob Lutz, while speaking with Wards, confirmed that VL Productions had obtained 20 Karma "gliders" without a battery, engine or ...
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Fisker goes to Congress: DOE attacked amid hints loan could still be paid back 1366846680
With a title like "Green Energy Oversight: Examining the Department of Energy's Bad Bet on Fisker Automotive" it was no surprise that the slant of today's Congressional hearing by the House Oversight subcommittee on Economic Growth, Job Creation, and Regulatory Affairs was overwhelmingly negative. In fact, for over three hours, it was perhaps the ...
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Proposed interior colors for 2014 Fisker Karma included 'Coronado,' 'Palisades' 1366718040
Among the things we're going to miss out on if/when Fisker Automotive goes bust is the legitimate description of "Coronado" as a color. That apparently orange-ish hue is one of four interior colors Fisker was planning on for its 2014 model-year Karma extended-range vehicle, according to Fisker Buzz. The three other colors planned for the two-toned ...
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Each Karma 'cost' Fisker $660,000 to produce 1366403220
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Fisker, A123 settlement reducing $140m in claims to $15m approved 1366322160
Fisker Automotive and what was formerly A123 Systems have received approval of their settlement in which Fisker's claims against the bankrupt battery maker were reduced by 89 percent, Bloomberg News reports. Fisker's claims against what's now B456 Systems were reduced to $15 million from $140 million. A US bankruptcy court judge in Delaware approved the ...
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Fisker owes $700,000 to landlord, web designer 1366206960
The Fisker Karma may be able to go 125 miles per hour, but the company making the extended-range plug-in doesn't appear to be outrunning its creditors. Fisker Automotive allegedly owes two creditors more than $700,000 on late bills, GigaOM says in two separate articles. GigaOM cites court papers that say the landlord of the company's Anaheim, CA, factory ...
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House Republicans will hold hearing on Fisker, Henrik asks for travel funds 1365720300
House Republicans have been critical of the Obama Administration over new-energy loans to companies such as Tesla Motors, and will hold a hearing later this month to discuss struggling California-based Fisker Automotive, the Wall Street Journal says. Representative Darrell Issa (R-CA), of the Government Reform and Oversight Committee, said he will also ...
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Podcast: Autoblog Podcast #328 1365551100
Autoblog long-term garage update, Fisker, Mini possibly dropping models, Detroit Electric, BMW X4 Episode #328 of the Autoblog Podcast is here, and this week, Dan Roth, Zach Bowman and Steven Ewing talk about the Autoblog Long-Term Garage, Fisker's troubles, Mini possibly shrinking its future product line, the reveal of the Detroit Electric SP:01, and ...
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Sarah Palin calls Tesla a 'loser,' which 'wounds' CEO Elon Musk 1365549960
Wasn't it the 2012 presidential race that featured Republican candidates disparaging electric vehicle companies? Well, yes, but that doesn't mean the 2008 vice presidential candidate (and Ex-Alaska governor) Sarah Palin can't do the same. In a Facebook post that bashed subsidies for advanced-powertrain vehicles like the Fisker Karma and Chevrolet Volt, ...
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Report: Fisker could file Chapter 11 as soon as this week 1365549300
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 ...
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Report: Fisker mass layoffs triggers federal lawsuit 1365339600
Turns out it's illegal to surprise three-quarters of your workforce with pink slips on a random Friday morning. Just before the weekend, Fisker Automotive furloughed 160 employees as "a necessary strategic step to... maximize the value of Fisker's core assets," which is lingo for trying to conserve as much cash and value as possible while the financially ...
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Breaking: Fisker PR team and many other employees face layoff this morning [UPDATE] 1365173940
The entirety of the public relations team at Fisker is about to be laid off. That's according to an email Autoblog received this morning from a credible source stating that the entire PR team, along with a large number of other Fisker employees will be furloughed at 8:00AM PST this morning. The luxury plug-in-hybrid car startup launched with a splash ...
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Fisker, A123 settle $140m supply claims for just $15 million 1365105360
Any self-respecting dealer would refuse to sell a Fisker Karma extended-range plug-in for a mere $12,000, but Fisker Automotive may be taking that approach with former battery supplier A123 Systems by settling for about 11 cents on the dollar in a bankruptcy-court claim. The California-based automaker settled with A123 Systems (which renamed its old ...
