We can now see at least one possible reason for why Hybrid Tech Holdings LLC bought the US Department of Energy's loan to Fisker Automotive last year for $25 million. The purchase is apparently worth $90 million today.
Fisker Automotive took its sweet time filing for bankruptcy, waiting well over a year between building its last car and calling it quits. In the time since the bankruptcy filing just over a month ago, though, it's been a busy on the Fisker news front. A lot of documents have been revealed and reported on, and now there is a new lawsuit filed against company co-founder Henrik Fisker (pictured) and other former executives.
In the wake of Superstorm Sandy hitting the east coast, Fisker Automotive and insurer XL Insurance wound up in a legal battle over 338 Karma models destroyed in the storm. The cars were sitting in Port Newark, New Jersey when the enormous storm struck, washing away $33 million worth of viable automobiles. Fisker sued XL Insurance in New York State Supreme Court after the company denied coverage for the loss.
You know how it goes, when there's smoke... Tesla Motors is reportedly suing Fisker Automotive for stealing inside design ideas. As rumors indicated earlier this week, Henrik Fisker apparently was hired by Tesla to style their upcoming Whitestar sedan. The styling was not to Tesla's liking, either by accident or on purpose - likely depending on who you ask -- so Fisker's designs were rejected. At that time, Tesla claims that Fisker and some associates took what they learned from Tesla and starte