The latest auto news, reviews, prices, product and vehicle releases. Apr
26th
Stay connected Subscribe to our RSS feed
While Fisker's demise has been a foregone conclusion for a little while, it was only on Tuesday that co-founder and COO Bernard Koehler admitted to the U.S. government that “the company may be obliged to seek bankruptcy protection to facilitate its continued efforts to preserve value for all stakeholders.”
At the same time, Koehler said he doesn't know exactly what the future holds for Fisker, including whether new investors will emerge.
The struggling electric car maker, which laid off 75% of its employees earlier this month, has some serious financial problems that are only getting worse.
The U.S. Department of Energy (DoE), which seized Fisker's emergency reserve funds this week, is also under fire after a PrivCo report claimed it knew by December 2010 that Fisker wasn't meeting milestones required to keep drawing taxpayer funds, yet waited until June 2011 to cut off funding.
Source: The Detroit Bureau
At the same time, Koehler said he doesn't know exactly what the future holds for Fisker, including whether new investors will emerge.
The struggling electric car maker, which laid off 75% of its employees earlier this month, has some serious financial problems that are only getting worse.
The U.S. Department of Energy (DoE), which seized Fisker's emergency reserve funds this week, is also under fire after a PrivCo report claimed it knew by December 2010 that Fisker wasn't meeting milestones required to keep drawing taxpayer funds, yet waited until June 2011 to cut off funding.
Source: The Detroit Bureau