Investment group aims to salvage Fisker Automotive by buying US Department of Energy loan

Henrik Fisker has joined an investor group to try and salvage Fisker Automotive.

The company, founded by Fisker six years ago and best known for its luxury electric range-extender — the Fisker Karma — is now struggling to stay afloat amid ongoing financial issues.

Fisker resigned from his position at Fisker Automotive in March, after reported arguments with other top executives over strategy.

He has now joined an investor group lead by former Fisker investor and billionaire Richard Li. Part of its strategy would be to buy the £350.7 million loan given to Fisker by the US Department of Energy for between £16-20 million. The DOE seized £13.9 million from Fisker last month to apply against the loan.

A second group lead by former General Motors executive Bob Lutz is also looking to save Fisker by buying it for £13.2 million. That group also includes Chinese auto parts market Wanxiang Group.

Fisker himself is a big drawing point for potential investors in the company. Credited with design success at both Aston Martin and BMW, he helped to attract over £795 million in private funding to Fisker Automotive since 2007.

Our Verdict

Fisker Karma

The Fisker Karma has stunning looks, backed up by impressive acceleration and has single-handedly made electric cars cool

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Comments
3

8 June 2013

Cars such as the X5M and X6M are about as far from our idea of what an M-car should be as Homer Simpson is an ideal role model for our children.

29 May 2014
Automotive industry now quite improved due to various implementations in car models of different car brands. Fisker automotive group is one of the popular car makers in the car industry and Fisker Karma is a very nice car. Fisker Karma models are very much popular due to the style and designing. Spare parts of these car models are quite expensive these days.

16 June 2014
Automotive industry is like this. If you have new things to provide and have new featured cars and design then only you can survive and achieve great success. If you fail in any point then you can suddenly drop down to bottom from the top. Most of the luxurious car makers are there and are trying always to give user some new features so that they can stay in mind as well as in heart of the consumer and also they are studying the consumers demand to bring on new features and technology in the vehicle. I think Fisker must have missed out some thing and brought down to bottom. As we have latest technologies available and installed in our vehicle, it is our responsibility to always stay tuned with them so that they can not go out of order. In my Mercedes I have faced problem in its sensor. After I have detected the issue without any delay I get my car repaired from a good repair center.

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