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Electric carmaker Fisker files for bankruptcy
2013 Nov 25, 3:06am 1,848 views 29 comments
by zzyzzx follow (9)
Comments 1 - 13 of 29 Next » Last » Search these comments
What is the purpose of posting this? So a company goes bankrupt. Big whoop. Lots of companies do so all the time. Tesla just so happens to be very successful and hence no reason to mention them in an unrelated article.
zzyzzx
@
2013 Nov 25, 3:51am
What is the purpose of posting this? So a company goes bankrupt. Big whoop. Lots of companies do so all the time. Tesla just so happens to be very successful and hence no reason to mention them in an unrelated article.
Article seems to blame everything except the obvious competition.
Tesla is next.
Why? They're selling every car they make, demand is huge, their stock is up, and they have new products on the way.
John Bailo
@
2013 Nov 25, 5:16am
Hyundai To Sell Hydrogen-Powered SUV In 2014
http://detroit.cbslocal.com/2013/11/23/hyundai-to-sell-hydrogen-powered-suv-in-2014/
Tenpoundbass
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2013 Nov 25, 5:29am
Why does every thing Obama touch erupt into an out of control fireball, that leaves a crowd of rabid whores cackling and singing his praises of "can do no wrong"?
hydrogen is a sort of dumb fuel source: It will always take twice as much energy to produce hydrogen. Hence it is totally inefficient.
Yep. Your article doesn't really prove anything other than hydrogen can be created from many sources, such as solar, water power, wind, and so on. In Any of those cases, it will always take twice as much incoming power- regardless of that source- to create hydrogen fuel. Twice as much energy will have to be used in order to generate half as much hydrogen. In the end, it will never make sense to exert more energy to create less energy.
New Renter
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2013 Nov 25, 7:12am
It will always take twice as much energy to produce hydrogen
Just how much stock in this crap DID you buy anyway?
Comments 1 - 13 of 29 Next » Last » Search these comments
http://news.yahoo.com/electric-carmaker-fisker-files-bankruptcy-181713156.html
Washington (AFP) - Fisker Automotive, whose sleek, sporty electric cars caught the eye of Justin Bieber and other celebrities, has filed for bankruptcy protection.
The California-based company also announced it had entered an asset purchase agreement with Hybrid Tech Holdings, LLC.
"After having evaluated and pursued all other alternatives, we believe the sale to Hybrid and the related Chapter 11 process is the best alternative for maximizing Fisker Automotive's value for the benefit of all stakeholders," Marc Beilinson, Fisker's chief restructuring officer, said in a statement Friday.
"We believe that the Fisker Automotive technology and product development capability will remain a guiding force in the evolution of the automotive industry under Hybrid's leadership."
Fisker was started in southern California in 2007 by former Aston Martin and BMW designer Henrik Fisker and German business partner Bernhard Koehler.
While it did not have the expected success with its sleek hybrid Karma sports car -- which it billed as "a bold expression of uncompromised responsible luxury" -- it did attract interest from the likes of stars such as Bieber, Leonardo DiCaprio and Ashton Kutcher.
With a price tag of about $100,000, the 2012 Karma sedan boasts an all-electric "Stealth Mode" and a fuel-assisted "Sport Mode," according to the company's website.
Having struggled financially for some time, Fisker announced in April that it was laying off 75 percent of its workforce.
What happens next remains to be seen.
The Wall Street Journal quoted a spokeswoman for Hybrid Technology, parent company of Hybrid Tech Holdings, as saying it was "committed to building upon the Fisker legacy and presence in the United States as a foundation for the design and manufacture of advanced hybrid electric vehicles."
The bankruptcy could become a political hot potato because the US government had focused on Fisker to encourage the development of green energy, providing it with loans.
The Journal cited the Department of Energy as saying it had recovered $53 million of the $192 million Fisker owed to the government, leaving $139 million unpaid.
Two Republican members of Congress -- House Energy and Commerce Committee Chairman Fred Upton and Oversight and Investigations Subcommittee head Tim Murphy -- have already lashed out over the matter.
"Fisker's collapse closes yet another sad chapter in (the Department of Energy's) troubled portfolio," they said in a joint statement.
"The jobs that were promised never materialized and, once again, taxpayers are on the hook for the administration's reckless gamble."
In their remarks, the lawmakers referenced solar energy firm Solyndra, which was the recipient of a $535 million government loan guarantee and also ended up filing for bankruptcy.
During the 2012 US presidential election campaign, Republicans repeatedly seized on the California-based company's demise, once hailed as a shining example of President Barack Obama's push to create green jobs and compete with rival China in a new energy economy.
#politics