As if the controversy regarding spontaneous combustion, Justin Bieber decking out his Karma in chrome and the US government freezing its grant, Fisker faces a further setback as its battery supplier files for bankruptcy.
You'd think that an automaker that produces only one model would make sure that it has all of the parts on hand in order to, you know, build it. Apparently that's not the case with Fisker as its battery supplier, A123 Systems, has filed for bankruptcy. Although you can't blame Fisker for this little mess, it's still embarrassing because it can't do a thing until A123 gets its finances sorted out with the US government, something that may prove anything but quick and easy.
In other words, Karma production has come to a standstill for the time being. Fortunately Fisker claims it has enough batteries in stock in case current owners need to replace them for any reason. But the production delay isn't helping things in regards to market expansion. Fisker was all set to reveal the Karma in China, a potentially profitable new market for the startup automaker, in the very near future. But without enough cars to ship and sell there, that debut will have to wait until a later date. The automaker is also currently looking to raise additional funds from private investors after a half-billion-dollar loan from the US Department of Energy was frozen.