US Government Wants to Get Rid of Fisker Once and For All

Report

Defaulting on US government loans is never a good thing.

You don’t need to be a rocket scientist to know that Fisker, for all intents and purposes, is finished. A few months ago it was on the verge of bankruptcy despite receiving a $529 million loan from the US Department of Energy back in 2009 to design, build and develop the Karma and other new high-tech hybrids. Fisker never turned a profit and lost about $1 billion by 2012. With its line of credit frozen in 2011, things managed to get even worse when its battery supplier went bankrupt.

Hurricane Sandy also destroyed 200 Karmas stuck at the Port of Newark. Then Fisker’s board fired Fisker, Henrik Fisker that is. With its founder gone and bankruptcy looming, it appeared that everything would soon be over. Even the US government wants this blemish gone for good as it’s now reportedly looking to sell Fisker straight up to another buyer, or even put it up for auction. Supposedly there was some recent interest from both German and Chinese buyers, but nothing has come through yet. Maybe now is the best time for a hopeful buyer to negotiate a good deal. That is if they really want an automaker that’s full of nothing but problems.

You Might Also Like
8 Modified Range Rover Nightmares
8 Modified Range Rover Nightmares
Can't Afford The 2019 BMW 8 Series? Here Are 8 Cheaper Super Coupes
Can't Afford The 2019 BMW 8 Series? Here Are 8 Cheaper Super Coupes
Ford Mustang Splits In Half In Illegal Street Race

This is the best example of dumb luck you'll ever see.

Jaguar XE 300 Sport And XE SV Project 8 Create Modern Art

Two vastly different sports sedans that share a common thread.

LEAKED: Ford Mustang Shelby GT500 Revealed At Private Event

This is the first pic we have seen of the supercharged range-topper

All-New Revolutionary Mazda3 Teased Ahead Of LA Reveal

Along with its game-changing sparkless ignition engine.

WatchThe Extraordinary Nissan GT-R50 Being Built By Hand

It’s all about bending sheet metal the old-fashioned way.

Here's How Aerodynamics Make The Lamborghini Aventador SVJ So Much Faster

Take a behind the scenes look at this amazing system.

Fake Lamborghini Murcielago SV Reverse-Engineered By Iran

The Chinese couldn’t have done it better.

Hennessey Trackhawk Is World's Quickest SUV

That's what a thousand horsepower will do for ya.

5 Things You Need To Know About The 2019 BMW X5

After driving the car for the first time, here are our key takeaways.

What's Hot