Fisker Hires a Consultant to Help Save Cash and Find Bidders
When we reviewed the Fisker Karma back in November 2012, we were pretty sure that this was a model with a promising future in the U.S. market. Apparently, we were wrong. It looks like Fisker hasn’t produced any vehicles in more than six months, and the problems do not stop here.
Apparently the company is still having big problems with cash, which really took off when the U.S. Department of Energy decided to freeze about $300 million of the $529 million loan Fisker was supposed to receive. Our contact at Fisker confirmed through several news outlets that the electric vehicle manufacturer has hired a consultant to oversee day-to-day operations in an attempt to conserve cash. The other detail to emerge is that sources close to the company are reporting that Fisker is seeking bidders to enter a partnership with or a possible acquisition.
Fisker officials confirmed that the company already attracted interest from companies like the Swedish vendor Valmet and a few others companies in China that may be interested in either being strategic partners or in the technology developed by Fisker. However, problems for Fisker do not stop here: recently battery supplier A123 Systems Inc. filed for bankruptcy and Fisker remains without the most important part of Karma model. Wanxiang – the likely buyer of A123’s assets – has interest in providing Fisker the batteries it so badly needs, so that part may work itself out.
We’re just hoping they will find a solution pretty soon; it will be a shame not to see them on the market in the future!
If you remember the Bobs from Office Space, then you know what it means when a company hires an outside consultant.