Fisker Automotive Inc is an American automaker based in Anaheim, California. They released their first product which is Fisker Karma. That`s one of the world`s first production plug-in hybrid electic vehicles.
It debuted in 2008, but production was suspended in November 2012 due to financial difficulties, with about 2,450 Karmas built since 2011. Fisker stopped production in the summer 2012, and was seeking new investment.
Matter were further complicated by the bankruptcy of its battery supplier A123 Systems. The production stopped for over five months and co-founder and CEO Henrik Fisker resigned. One of the investors in Fisher was Leonardo de Caprio, and he lost everything.
Fisker eventually declared bankruptcy in November 2013, and in February 2014 the company was bought by Chinese auto-parts conglomerate Wanxiang Group. Price; US$24,75 million, supported by the Official Creditors committee in the case.
Wanxiang Group owns A 123 Systems (now known as B456). Fisker`s former battery supplier, and Fisker argues that Wanxiang`s conduct was partly responsible for Fisker`s business failure. As part of its bid, Wanziang proposes to restart production of the Karma.
Wanxiang received court approval on February 18 this year, to buy the assets of Fisker after a three-day auction against Hybrid with a bid of US$149,2 million, with bidding starting at US$55 million, significantly larger than the previous US$24,75 million bid.
Wanxiang claimed that it could restart production, estimating that it would sell more than 1,000 Fisker Karma cars in the first 18 months in the US and 500 in Europe. Fisker Karma is a plug-in hybrid luxury sports sedan produced by Fisker Automotive and manufactured at Valmet Automotive in Finland.
The aluminium frame was engineered by Fisker and was supplied by Norsk Hydro from Norway. The 20,1 kWh (72,36 MJ) lithium-ion rechargeable battery in each car came from A123 Systems in Watertown, Massachusetts.
By the end of 2012 Fisker claimed 1,800 cars had been delivered. They have established 45 dealerships in the US and three in Canada. They have built 2,000 vehicles and has partnered with five importers: GP Supercars (Merano, Italy), Nellemann (Copenhagen, Denmark), the Emil Frey Group (Zurich, Switzerland), BD Otomotive (Istandbul, Turkey) and Al-Futtaim Group (Middle East and North Africa).
In April 14, 2008, Tesla Motors filed a lawsuit against Fisker Automotive, alleging they stole Tesla`s tehnology and are using it to develop their own hybrid car, the Fisker Karma. Tesla`s suit claims that the design work done for the Model S by Fisker Coachbuild was substandard, and that Fisker diverted its best ideas to the Karma.
In early 2009 the suit was settled in Fisker`s favor and Tesla was ordered to pay Fisker more than US$1.1 million in legal fees. Fisker looks very similar to the Tesla cars, and if Fisker start to produce electric cars now, it will take many year to be finish and launch the new car.
So far, Tesla is absolutely the best car I have driven. It`s also one of the coolest. Tesla must expect to see competitors on the market but so far Tesla is the leader, and it will take some time for others to produce the cars and start to sell them.
Reports today:
10:00 a.m EST FOMC Member Dudley speaks
10:30 a.m EST Crude Oil Inventories
11:30 a.m EST Fed Chair Yellen speaks
01:30 a.m EST FOMC Member Kocherlakota speaks
02:00 a.m EST FOMC Meeting Minutes
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