Tuesday, May 15, 2012

Fisker Automotive Systems' Supplier Seeks Buyer

A major supplier to Irvine-based electric auto firm Fisker Automotive is looking for a buyer, after woes triggered by a recall of Fisker's automobiles in March. A123, the supplier of batteries used in Fisker's automobiles, said Tuesday that it has hired an outside financial advisor to provide it with "evaluation of strategic alternatives" for the firm. Fisker, and A123, saw a huge black eye in March after batteries used in Fisker's automobiles shut down in a Consumer Reports test. Fisker later upgraded its warranty on its cars and promised to replace all of the batteries in the Fisker Karma due to the A123 issues.

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