How Fisker Promised The World But Burned Through $1.4 Billion And Went Belly Up

Danish designer Henrik Fisker knows how to style a sexy car. Among his works is the BMW Z8, driven by James Bond in "The World Is Not Enough," where the sleek roadster gets sliced in two by a helicopter armed with giant saws.

Fisker's latest piece of rolling sculpture is the comely Fisker Karma hybrid sports sedan — and it may meet an equally ugly end.

The Dane's startup, Fisker Automotive, hasn't built a car in nearly a year. It fired most of its workforce, hired bankruptcy advisers and is seeking a buyer. Co-founder Henrik Fisker resigned in mid-March in a dispute with some of the directors. And despite raising $1.4 billion in private and public funds since its founding in 2007, the company is out of cash. For months, key investors have been footing the car maker's day-to-day expenses to keep it alive in diminished form.

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mrcassis - 6/17/2013 1:31:40 PM

-9 Boost

When in doubt, us regressives rely on our true and tried method of operation. BLAME OBAMA!!!!!!!!!!!!!!!!!!!! Cmon conservtive nuts, llllllllllllllllllllllllllllets get ready to bash Obamaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa!!

randy3023 - 6/17/2013 1:33:44 PM

+8 Boost

It's absolutely insane we tolerate individuals in government who believe they have the right to spend taxpayer dollars on risky, non-essential investments that don't just fail to answer any paramount technological need, but fail to answer ANY NEEDS whatsoever. These creeps do not have a mandate from voters to do this, yet they do it anyway, to advance their own agendas and bank accounts. These individuals are corrupt, and you people should fucking pay attention to that when they come up for vote, instead of just BLINDLY voting for them because they have the matching letter "R" or "D" next to their name.

GM, FISKER, SOLYNDRA. Wake up people. Stop voting for people without looking into their background.

quizz - 6/19/2013 10:41:04 PM

+1 Boost

Fisker should have partnered with Toyota years earlier, before this brand became mud.