Want to Buy Fisker? It's Going Up for Auction

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Its future still remains unknown.

Once upon a time, Fisker was the darling start-up hybrid automaker that everybody loved. Heck, even Leonardo DiCaprio invested in the company, which also happened to secure US Department of Energy loans. Its founder and namesake, Henrik Fisker, was also a brilliant car designer, and the Karma was his ultimate pride and joy. Production started, but it went all downhill from there. No need to repeat the entire story, but the last time we heard about Fisker, the US government wanted to get rid of it once and for all.

Fisker

And despite the government shutdown, it appears that an auction of Fisker's assets is set to take place this Friday. The USDE would really love to recover some $168 million in loans from its very own program designed to help Fisker get off the ground. It's hard not to laugh at the irony of it all. Although Fisker is not technically bankrupt, there's still some value left in it, such as the development plans for the Atlantic and an old GM production plant in Delaware. Some investors were previously interested in buying Fisker, but since the auction will be happening, it appears that any offers that could have been made were rejected. We'll know on Friday who ends up as Fisker's new owner.

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