Henrik Fisker has joined an investor group to salvage Fisker Automotive
Fisker Automotive is best known for producing the Fisker Karma
Two investment groups are currently looking to save Fisker Automotive
Fisker Automotive has struggled to pay back a DOE 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.