Cars fisker-karma

Published on November 30th, 2013 | by Christopher DeMorro

0

Fisker Bankrupt, But Someone Bought It

November 30th, 2013 by  

Originally published on Gas2.

fisker-karma

It’s been more than 18 months since Fisker Automotive last built a car, and the vultures have been circling for over a year now, waiting for the inevitable to happen. Last week Fisker finally filed for bankruptcy, and was sold for a paltry $25 million to a mysterious investment group that hasn’t revealed what its intentions are just yet.

That means taxpayers were out about $139 million on the Fisker investment, folly which caused private investors even more. In total, around 2,000 Fisker Karmas were built, though not even that many were sold. Bob Lutz is offering customers new and old the option of inserting a supercharged V8 under the hood, though prices for used Fiskers are in the toilet.

The buyer of Fisker is the shadowy Hybrid Tech Holdings LLC., a group that did not announce its intentions or primary investors in a very brief, legalese-laced press release. Last we heard a Hong Kong billionaire was at the top of the list of potential buyers, and before that a German company was interested in restarting Karma production. While some are hopeful that Fisker could make a comeback, and the Karma could be built again, it seems unlikely given that each vehicle lost about $35,000 for the hybrid carmaker. Why would anyone want to restart production of a money-losing vehicles?

Fisker didn’t actually own most of the technology it used in the Karma, which is why a company once valued at more than a billion dollars sold for so little. Beyond the car’s design itself and the Fisker name, neither of which is particularly valuable right now, there just isn’t much included in this sale. We may not even ever know who wound up with the keys to Fisker at the end of the day.

Maybe I’m wrong, and Fisker will rise from the grave again, like Saab has somehow managed to do. But I wouldn’t invest in it, emotionally or financially. Would you? 
 
Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.”
 
Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.

 

Tags: , , ,


About the Author

A writer and gearhead who loves all things automotive, from hybrids to HEMIs, can be found wrenching or writing- or else, he's running, because he's one of those crazy people who gets enjoyment from running insane distances.



Back to Top ↑
  • Advertisements

  • Top Posts & Pages

  • Cool Cleantech Events

    Low Voltage Electrification Event, April 25-27. Detroit, Michigan (US)
    Delve deep into the benefits and challenges associated with EV power supply.

    Offshore Wind Market Development USA, May 11-12, Boston, Massachusetts (US)
    Network and establish your business in one of North America’s largest energy industries.

    Energy Storage USA, June 15-16, San Diego, California (US)
    Only event in the United States focused exclusively on the commercialization of storage.

    More details are on: Cleantech Events.

  • Advertisement

  • CleanTechnica Electric Car Report

    Electric Cars Early Adopters First Followers
  • Tesla Model 3 Review by EVANNEX

    Tesla Model 3 Review from EVANNEX
  • Tesla Model 3 Exclusive Video

    Tesla Model 3 Video
  • Tesla Model 3 Exclusive Pictures

    Tesla Model 3 Video
  • Tesla Model X Review #1 (Video)

    Tesla Model X Review from new owners Zach Shahan
  • Tesla Model X Review #2 (Pictures)

    Tesla Model X Review from Kyle Field
  • Tesla Model S Long-Term Review

    Tesla Model S Long Term Review from Kyle Field
  • Nissan LEAF Long-Term Review

    Nissan LEAF Long Term Review from Cynthia Shahan
  • Interview with Michael Liebreich

    Interview with Michael Liebreich
  • Interview with Akon (Teslas & Solar)

    Interview with Akon Tesla Model S Tesla Model X Solar Power Africa
  • Interview with Dr Nawal Al-Hosany

    Interview with Dr Nawal Al-Hosany
  • Interview with Gro Brundtland

    Gro Brundtland
  • Interview with President of Iceland

    President of Iceland Ólafur Ragnar Grímsson
  • Interview with Nick Sampson

    Faraday Future VP Nick Sampson
  • Interview with Dipal Barua

    Dipal Barua 1st ZFEP WInner
  • Interview with Jonathon Porritt

    Jonathon Porritt
  • Interview with Clint Wilder

    Interview with Clint Wilder
  • Interviews with Solar Impulse Pilots

    Bertrand Piccard Andre Borschberg
  • Check out more CleanTechnica Videos.

  • Join The Solar Revolution!

    Edison-solar-energy solar-energy-spill-nice-day
  • Cost of Solar Panels

    cost-of-solar-down
  • Search the IM Network


Shares