Fisker Cuts Off Working and Staff Capacity
|   Monday, April 15, 2013
Electric car maker Fisker Automobiles has been in deep water for quite some time now but situations seem to worsen as the car makers were forced to cut off a considerable part of their work force this week. Based out of Anaheim, California, Fisker is not in sound financial shape and the firm had reportedly hired a law firm to take care of its legal proceedings regarding the financial law suits Fisker is rumored to face.

Fisker has filed for bankruptcy since production of the £65,000 model - Karma - was suspended late last year.
Fisker was scheduled to start repayments last year but that never came about as the company was unable to make any major breakthroughs with production. Fisker was offered a loan of £350 Million by the Obama administration. However, payments were stopped once the company had withdrawn £131 Million.

Fisker was confident of delivering close to 1800 units of the Karma by end 2012. However the plan never came to be successful and production had to be suspended in the end. New sources of investment did not come up quickly even though the company spent almost a year looking for suitable options and this took a major toll on the reputation of the company.

The company faced negative review ion the market during its early days as a number of Fisker had to be called back due to manufacturing defect. A123, Fisker's battery manufacturing partner gave up in 2012 and this took a major toll on the company's workability as well. Fisker continued to be plagued by bad luck as the Hurricane Sandy destroyed about 300 units of the Karma ready to be exported. The loss was so great that founder Henrik Fisker resigned from the company.

Fisker was founded in late 2007 by en BMW designer Henrik Fisker. The company had a vision to design and develop electric super cars. The Karma was the much celebrated designing marvel from the company showcased in 2009. However, the vehicle came to production post 2011 and the first batch was ready for sale fall autumn 2011.

Project Nina, a classified project that Fisker was working on post 2011 also came to a halt with the company's finances deteriorating and this 5 Series car can be resumed only if Fisker finds a taker, which seems to be an impossible task at the moment. However, Fisker could see a potential investor if the projects at hand seem practical.

As of now the company's future is uncertain and it could be some time before Fisker gains feet on solid financial ground. The upcoming projects were profitable enough to help find the company a new taker. Although this is just a rumor and no official confirmation has come up. Spokespeople from Fisker plan on making company proceedings public as and when things happen and new - both good / bad - is expected to be out soon. Fisker could be a profitable company if it finds the right management and the employees wish for the same too.
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