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Is Fisker About to Join Solyndra and A123 Systems in the Green Failure Graveyard?

Tesla may have paid back its $451.8 million loan, but it is still a rough day for electric cars.

Becky Graebner


May 25, 2013 - 2:00 pm
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Was Hurricane Sandy’s infamous destruction of the Fisker Karmas an omen?

Thanks to Justin Bieber’s platinum Fisker Karma, which has been the frequent recipient of traffic tickets and an unfortunate party of a few auto accidents, electric car maker Fisker has been a popular name in the headlines in the past few months. Although it wasn’t the best PR to have the “Biebs” and his friends crash the Karma throughout the U.S., Fisker might be wishing it were Bieber splashing its name in the headlines again this week. The story this time is that the end may be near for Fisker; which means, yet another “alternative energy initiative” might go belly up.

The faster Fisker is sold, the better.

Wall Street Journal reports that Fisker is holding out against bankruptcy, hoping they can locate a private buyer to salvage its name. One of those paying court to Fisker is Wanxiang Group — the same company that bailed out A123 Systems. That name should sound familiar — it is usually paired with the words “Solyndra” and “bankruptcy.” It seems Wanxiang wants to swoop in once again and snap up the carcass that used to house A123′s batteries: Fisker.

The other company paying tribute? VL Automotive. But, instead of thinking “green,” VL is thinking “black” — as in the black rubber mark that will be left on the pavement after their new Fisker-bodied sports-car peels away.  VL unveiled a prototype last January that had a Corvette engine in a Fisker body… that would definitely rev some gear-heads. It is called the VL Destino. We will see if it’s Fisker’s destiny to live…

The next few days are going to be like the last lap of the Daytona 500… who will pull ahead and win? Will someone actually BUY Fisker, will DOE take possession, or will Fisker decide to roll over and die?

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All Comments   (4)
All Comments   (4)
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Isn't Wanxiang working with VL Automotive to buy Fisker?

I love the idea of putting a Corvette engine in the Fisker body. It reminds me of a time when a vegetarian friend recommended that I try a particular brand of veggie chili. I told him that I added a pound of ground beef and that it tasted great.
1 year ago
1 year ago Link To Comment
Funny! That reminded me of a time in the 1960s when a product called Hamburger Helper was advertised to make a pound of hamburger go further. However Hamburger Helper cost more than hamburger. Go figgure.
1 year ago
1 year ago Link To Comment
Yup, you're right! They seem to be working together--but it looks like they have different visions of what to do with Fisker....with Wanxiang holding B456 (go green?) and then VL Auto. showing off the Destino (go gas?).
1 year ago
1 year ago Link To Comment
I would just like to note that Tesla didn't really repay the loan. They simply got other loans to cover it. Not exactly what I would call the best solution.
1 year ago
1 year ago Link To Comment
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