Bankruptcy

It's Finally Happened: Fisker Files for Bankruptcy

And it has a mysterious new owner.

After nearly 18 months of everyone knowing it was going to happen at some point, Fisker has officially filed for Chapter 11 bankruptcy. At the same time, the US Department of Energy (DOE) has sold its Fisker assets to a company called Hybrid Tech Holdings for a cost of just $25 million. Just $25 million? That at first may sound like a lot of dough, but in reality the US government (i.e. US taxpayers) has lost $139 million of the $192 million Fisker received.

Basically, the DOE just wanted to get rid of Fisker as soon as possible for as much money as possible. It knew it would be taking quite a big hit, but the best thing to do was just to be done with the start-up plug-in hybrid car maker once and for all. So what happens now to Fisker itself? Well, Hybrid Tech, whose owners remain mysteriously anonymous, has also bought the right to production and sales of the Karma. It’s entirely possible Karma production could be up and running again in the future. Only question is, who exactly are Fisker’s new owners and what country serves as its headquarters?

Related Cars

Read Next

SEE MORE ARTICLES