GM Volt Forum banner

1 - 11 of 11 Posts

·
Registered
Joined
·
1,976 Posts
A friend let me drive his Karma a few days ago. It's a great looking car...

I prefer my 2011 Volt, including the software, as is! :)
 

·
Administrator
Joined
·
20,464 Posts
Well, odds are good that Fisker's trouble will be used as some sort of proof that the Volt is a failure. It's almost a guarantee the Volt will be dragged into the story just like it was with Boeing.
 

·
Super Moderator
Joined
·
6,343 Posts
ChargeDevs articles can be a bit short/concise.

Several others are not quite giving off the same vibe. via FiskerBuzz

http://www.bloomberg.com/news/2013-...lp-conserve-cash-during-strategic-review.html
Fisker Automotive Inc., the rechargeable-car maker that’s seeking a partner or a buyer, hired Huron Consulting Group Inc. (HURN) to help manage day-to-day operations during negotiations.

Huron’s Hugh Sawyer is serving as chief administrative officer, said Roger Ormisher, a spokesman for Anaheim, California-based Fisker.
http://www.huronconsultinggroup.com/Company/Leadership/Hugh_E_Sawyer.aspx
Hugh has more than 30 years of experience leading turnarounds, bankruptcies, operational improvement and mergers and acquisitions for both public and private companies across a diverse group of industries...
http://www.chicagobusiness.com/article/20130129/NEWS05/130129776?template=mobile&X-IgnoreUserAgent=1
China's Wanxiang looking to invest in Fisker Automotive
By: Meribah Knight January 29, 2013
Wanxiang America Corp. is interested in investing in electric car maker Fisker Automotive Inc.

According to Wanxiang, an Elgin-based subsidiary of China's Wanxiang Group, it is looking into how it can help the Anaheim, Calif.-based automaker as a key supplier, strategic partner or investor.

Wanxiang has spent much of the last decade scooping up more than two dozen troubled American companies. Yet despite rumors, Wanxiang has no plans to purchase the Fisker Karma hybrid maker; rather, the company told Crain's, it is interested only in offering a helping hand.

As of late, Wanxiang has been in the news after winning the bidding for A123 Systems Inc., a bankrupt battery maker based in Waltham, Mass. Rival bidder Milwaukee-based Johnson Controls Inc. challenged the Bankruptcy Court's decision, citing national security concerns related to A123's core technology. Late Monday, Wanxiang said, a U.S. court and the Committee for Foreign Investment in the U.S., an interagency body that screens transactions that could jeopardize national security, approved the takeover.
<snip>
 

·
Banned
Joined
·
75 Posts
Fisker may finally be dead?

Fisker raised slightly over $1 Billon


In 2008 Fisker originally estimated 15,000 cars per year will be assembled by Valmet Automotive in Uusikaupunki, Finland. Manufacturing eventually began.

Fisker was approved for a U.S. Government backed $529 million loan in early 2009. The deal was structured to give the company access to funds in two tranches, tied to the successful completion of specific business milestones. The first chunk of financing was for $169 million,

On October 27, 2009, Fisker officials announced that the company had signed a letter of intent to take control of the Boxwood Road Plant (previously owned and operated by General Motors as Wilmington Assembly) in Wilmington, Delaware. This gave it access to the second government financing tranche.

By the end of summer 2012 Finland production ceased (Due in part to the bankruptcy if Fiskers battery supplier), and Valmet laid off half its workforce.

Fisker Manufacturing has not resumed.

It’s believed that production of the Fisker Karma now exceeds 2,700 units overall, with 2,000-plus already sold and a few hundred available to purchase today. When that limited supply vanishes (estimated to be April 2013) , Fisker will be without a single vehicle to sell.

(Today) Persons familiar with the dealings inside Fisker Automotive, have told Bloomberg news that Fisker has been seeking bids on the company. The only offer is a $350 million dollar bid from Chinese automaker, Dongfeng Motor Corp.

This $350 million dollar offer reportedly would be for an 85% share of the company; far less than the more than $1 billion dollars that had already been raised privately, illustrating how bad things have been going for the maker of the luxury, extended range, Karma.

Reports also suggest if the deal goes through, Fisker cars would be manufactured in China (The company that bought Fisker's bankrupt battery company is Chinese as well) and only sold in Asian markets.

(culled from various news sources)
 

·
Registered
Joined
·
5,486 Posts
Their product didn't support a viable business model. Lower EPA figures, heavy car, not really sporty, but really good-looking car. A single product company has to have a better product and it has to be more than good looks. They may have done better as a BEV with a 40 kWH battery in lieu of the engine and at $80k or less.
 

·
Super Moderator
Joined
·
6,343 Posts

·
Administrator
Joined
·
20,464 Posts
AND more stories about how EV's are dead by the usual oil interest mouth pieces.
 

·
Registered
Joined
·
434 Posts
I really enjoyed my Fiskar test drive on Plug-in Day. The Karma is a great looking car, with Volt performance. The Karma is out of my price range, but I was looking forward to the Atlantic. I Really-really like my Volt. Zero Range Anxiety.

Volt 63
 
1 - 11 of 11 Posts
Top