Monday, January 28, 2013

Fisker Automotive Seeks Buyer By Next Month

Irvine-based Fisker Automotive, the troubled electric vehicle designer, is hoping to find a buyer or investor by next month--in order to keep operating--according to the WSJ Monday. The WSJ said that the firm--which has hired investment bankers to try to find it a suitor--also has been unable to produce vehicles, due to the bankruptcy of its battery partner, A123 Systems. The report also said that Fisker has stalled work on its next generation car while it sorts through its issues. In addition to the overall headwinds faced by Fisker in developing an entirely new automobile manufacturer; Fisker has had to face failures and a recall of the batteries in its car source from A123; a dismal showing in a Consumer Reports test of the car; an issue with its cars bursting into flames; and the loss of a number of its cars in Hurricane Sandy.

---