Wednesday, March 27, 2013

Fisker Furloughs Workers

The slow motion train wreck which seems to be playing out at Anaheim-based hybrid auto developer Fisker Automotive continued late Wednesday, as the car manufacturer furloughed its U.S. workforce, according to a report. Reuters reported that the auto maker furloughed the workers as part of an effort to "keep costs low" as it looks for a strategic partner.

Fisker has been struggling to find either a strategic investor or acquirer, most recently looking towards a number of Chinese auto makers to enable the firm to continue to build cars. Reuters said that Fisker has not made an automobile since last July, since issues with its battery supplier--now defunct A123 Systems--forced the firm to suspend production.

Fisker has faced a string of bad news, most recently the departure of co-founder Henrik Fisker earlier this month. The firm lost more than 300 of its cars in Hurricane Sandy last Fall, saw scathing review from Consumer Reports, and throughout 2012 faced a series of recalls, including one related to "self ignition" of one of its Karma sedans.

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