Fisker Atlantic

Don't count Fisker Automotive out yet, says Fisker insider

Reports of the impending demise of Fisker Automotive have been exaggerated in order to force the company into bankruptcy, says an unnamed Fisker Automotive insider.

Is Fisker Automotive about to completely collapse and disappear from the face of the earth? The press is full of articles claiming this is going to happen soon for Fisker, that the company will be another Solyndra story, which may hurt the Obama Administration. A report on Thursday in PlugInCars cites an unnamed former Fisker employee who says essentially that the reporting is unsubstantiated, and to not count Fisker Automotive out just yet.

Over the last couple months an evolving story has portrayed Fisker Automotive as running low on cash and seeking buyout offers from other automakers, primarily a pair of Chinese automakers. On TorqueNews we've done our share of this reporting: Fisker Automotive weighing buyout bids from Chinese automakers, and Second Chinese bidder for Fisker Automotive pulls out of buyout talks. The buyout bidding appeared to unravel after co-founder Henrik Fisker left the company in mid-March: Henrik Fisker resigns - possibly signaling the beginning of the end for Fisker Automotive, Is There Life For Fisker Automotive After Henrik Fisker Walks Away?, Fisker's horrible year leading to Henrik Fisker's resignation. The most recent ominous news is that the company had furloughed and then laid off a large portion of the staff: Fisker workers on temporary furlough to conserve cash while seeking rescue, and that the company is looking into bankruptcy Fisker faces bankruptcy as workers file suit over layoffs.

According to the source interviewed by PlugInCars, the reporting about Fisker's impending demise are based on "unsubstantiated information about negotiations with China-based companies vying to buy the company." The source claimed that stories were leaked in order to devalue Fisker Automotive, driving the company into bankruptcy, so that a bidder would be able to buy the assets much more cheaply.

It is true that much of the reporting about the status of buyout negotiations source other reports that rely on unnamed sources, and some of this reporting is in the Chinese press.

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Speaking about Henrik Fiskers resignation, it occurred because Fisker could no longer affect positive change from inside the company, and that we haven't seen the last of him.

Finally, the negative political taint aimed at Fisker Automotive harmed the company by spooking away potential buyers from buying Fisker Karma's. An example is during the 2012 Presidential when Mitt Romney and others repeatedly tried to Solyndraize Fisker Automotive: Fisker rejects Romney's 'Loser' tag, will his attack backfire on Romney?

Source: PlugInCars.com

Comments

Id love to see Fisker succeed but at this point, I have to see it before i will believe it. Now that the US government is sniffing around the financial issues, whoever buys the company could inherit those problems with the feds.