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Tuesday, June 4, 2013

Fisker not dead yet

There's been lots of talk about the Fed's investment in Fisker and the potential loss of value.  Good to see that the company is not dead, and there's potential bidders for their remaining assets, mostly model design and IP.

Despite some losses from the US Government's investment in green, we believe all of that, and much more, will come back from some of their successful partnerships, including Tesla.  Clearly, some of the big winners are emerging.

We wish Fisker well in finding a buyer, returning cash to the Feds and continuing their effort to invent electric vehicles that allow us to quickly migrate off of fossil fuel and the unending push towards severe high carbon levels and the resulting damage to the atmosphere:


"After leaving the company that bears his name in March, Henrik Fisker is now working with a Hong Kong group led by one of Fisker Automotive’s investors in an effort to regain control of the beleaguered plug-in hybrid builder. Fisker and Richard Li, a Hong Kong billionaire, head a group attempting to buy the Department of Energy’s loan to Fisker Automotive before the company faces bankruptcy. 
The Fisker-Li group isn’t the only party interested in gaining control of Fisker Automotive. Wanxiang Group, a Chinese auto parts builder, is also in the game, partnered with former General Motors executive Bob Lutz. Wanxiang builds and supplies the Fisker Karma’s lithium-ion battery, while Lutz has already produced the Destino — a Fisker Karma body with a Corvette engine instead of a plug-in powertrain — under his VL Automotive badge. Lutz has recently stated that he wants Fisker to survive, if for no other reason than to keep producing Karma bodies that he can convert into Destinos, and with Fisker’s current battery supplier as a partner, Fisker Automotive could potentially be folded up into a larger company rather than have to struggle on its own. 
Henrik Fisker has reportedly been in touch with board members of Fisker Automotive about a new role within the company should he and Li’s proposed buyout of the Department of Energy's failed loan become a reality. Lutz and Wanxiang have a $20 million offer on the table. Figures and intrigue stand to escalate as discussions continue."

2 comments:

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  2. Fisker has amazing concepts. If you are interested in other models of Fisker you should check fiskermiami.com for more information :))

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