Fisker Automotive

Fisker Automotive
Company typePrivate corporation
IndustryAutomotive
Luxury plug-in hybrid cars
FoundedAugust 2007 (2007-08)[1][2] (as Fisker Automotive)
Anaheim, California, U.S.
FoundersHenrik Fisker
Bernhard Koehler[3]
Defunct2014 (2014)
FateDeclared bankruptcy in November 2013; assets bought by Wanxiang in February 2014 as foundation of Karma Automotive; Henrik Fisker subsequently founded Fisker Inc in 2016.
SuccessorKarma Automotive
Fisker Inc.
HeadquartersAnaheim, California, U.S.[4]
Key people
Tony Posawatz (CEO)[5]
Bernhard Koehler (COO)[6]
Products
Number of employees
53 (March 2013)[7][8]

Fisker Automotive was an American company founded in 2007. It was known for producing the Fisker Karma, which was one of the world's first production luxury plug-in hybrid electric vehicles. The company was founded by Henrik Fisker, a Danish automobile designer.

The company received significant private and public investment, including a $529 million loan from the federal government. The company raised over $1 billion from private investors such as the Kleiner Perkins venture capital firm.[9]

However, it repeatedly missed production deadlines and production of the Fisker Karma was suspended in November 2012 with about 2,450 Karmas built since 2011 and just over 2,000 cars sold worldwide.[10][11] The New York Times described the company as the "Solyndra of the electric car industry" and a "debacle".[12] The company's federal loan was suspended in 2011; the government recovered some of the invested funds, but nevertheless took a $139 million loss.[13]

In February 2014, Fisker Automotive's Karma vehicle design, tooling and a manufacturing facility in Delaware were purchased by Chinese auto parts conglomerate Wanxiang Group. In 2016, Wanxiang would rename the holding company for the assets of Fisker Automotive to Karma Automotive.[14]

  1. ^ "The Documented History of Fisker Automotive - PrivCo". Archived from the original on November 20, 2020. Retrieved May 24, 2019.
  2. ^ Cite error: The named reference wired1 was invoked but never defined (see the help page).
  3. ^ Fact Sheet Archived September 5, 2014, at the Wayback Machine Fisker Automotive
  4. ^ "Fisker Strikes Deal for HQ in Anaheim | Orange County Business Journal". www.ocbj.com. January 22, 2011. Retrieved May 24, 2019.
  5. ^ "Tony Posawatz replaces Tom LaSorda as Fisker CEO". Retrieved August 14, 2012.
  6. ^ "Biography of Fisker Automotive COO Bernhard Koehler". Fiskerbuzz.com. September 15, 2009. Archived from the original on June 18, 2012. Retrieved July 10, 2012.
  7. ^ "Fisker sued for sudden layoffs". USA TODAY. Retrieved May 24, 2019.
  8. ^ "The sad long story of Fisker Automotive, 'the largest VC-backed debacle in U.S. history'". April 17, 2013. Retrieved May 24, 2019.
  9. ^ Chernova, Yuliya; Ramsey, Mike (April 24, 2013). "How the Wheels Came Off for Fisker". Wall Street Journal. ISSN 0099-9660. Retrieved March 8, 2023.
  10. ^ Bradley Berman (March 13, 2013). "Henrik Fisker Resigns From Fisker Automotive". The New York Times. Retrieved June 18, 2013.
  11. ^ Deepa Seetharaman and Paul Lienert (June 17, 2013). "Special Report: Bad Karma: How Fisker burned through $1.4 billion on a 'green' car". Reuters. Archived from the original on August 12, 2016. Retrieved June 18, 2013.
  12. ^ Vlasic, Bill (April 24, 2013). "Breaking Down on the Road to Electric Cars". The New York Times. ISSN 0362-4331. Retrieved February 7, 2023.
  13. ^ "Fisker bankruptcy: Feds to lose $139 million on Fisker Automotive". Christian Science Monitor. ISSN 0882-7729. Retrieved February 7, 2023.
  14. ^ "Judge Approves Fisker Asset Sale to Wanxiang". The New York Times.