ANOTHER ONE: EV Start-Up Fisker Exploring Bankruptcy

Gateway Pundit ^ | Mar. 14, 2024 | Cristina Laila

[george76]

Electric vehicle start-up Fisker is exploring bankruptcy, The Wall Street Journal reported this week.

Fisker’s stock plunged this week as investors worry about the company’s ability to survive amid a cash crunch. The auto company also said it would slash 15% of its workforce.

The Wall Street Journal reported:

Electric-vehicle startup Fisker FSR -55.88%decrease; red down pointing triangle has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter.

Fisker, which recently warned that it risked running out of cash this year, hired financial adviser FTI Consulting and the law firm Davis Polk to work on a potential filing, the people said. The car company reported last month that it had $273 million in sales last year and more than $1 billion in debt.

Recall that Henrik Fisker previously owned Fisker Automotive which produced the EV hybrid called Fisker Karma. That company filed bankruptcy in 2013 after the Obama Regime loaned it millions of dollars. Obama knew Fisker Karma was going bust but he gave the ailing company millions anyway.

...

At least 36 of Obama’s taxpayer-funded green energy projects went belly up – Solyndra being the biggest green scam of all.

FOX Nation reported in 2015:

The complete list of faltering or bankrupt green-energy companies:

Evergreen Solar ($25 million)*

SpectraWatt ($500,000)*

Solyndra ($535 million)*

Beacon Power ($43 million)*

Nevada Geothermal ($98.5 million).

SunPower ($1.2 billion).

First Solar ($1.46 billion).

Babcock and Brown ($178 million).

EnerDel’s subsidiary Ener1 ($118.5 million)*

Amonix ($5.9 million).

Fisker Automotive ($529 million).

Abound Solar ($400 million)*

A123 Systems ($279 million)*

Willard and Kelsey Solar Group ($700,981)*

Johnson Controls ($299 million).

Schneider Electric ($86 million).

Brightsource ($1.6 billion)..

ECOtality ($126.2 million).

Raser Technologies ($33 million)*

Energy Conversion Devices ($13.3 million)*

Mountain Plaza, Inc. ($2 million)*

Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*

Range Fuels ($80 million)*

Thompson River Power ($6.5 million)*

Stirling Energy Systems ($7 million)* Azure Dynamics ($5.4 million)*

GreenVolts ($500,000).

Vestas ($50 million).

LG Chem’s subsidiary Compact Power ($151 million).

Nordic Windpower ($16 million)*

Navistar ($39 million).

Satcon ($3 million)*

Konarka Technologies Inc. ($20 million)*

Mascoma Corp. ($100 million)

[xoxox]

that thing was circling the drain from the start.

[Bonemaker]

As I'm doing my taxes...

[txeagle]

I guess they figured out that the next administration is going to be a little more stingy with subsidies.

[Red Badger]

Take the scissors to Fiskers.......................

[Lockbox]

You’ll realize we are up to Fisker # 4 car company of which three are dead with # 4 soon to join the list. Great designer, not so good head of car company….

[eyeamok]

If we just mandated that ALL Government Employee’s Nationwide exclusively used either Mass Public Transit or EV vehicles for ALL Travel, personal and work, the EV companies can be saved.

[ridesthemiles]

I live near where NEVADA GEOTHERMAL was drilling wells.

LOTS OF PROMISES FLOATED AROUND

Space where their equipment sat for some months NOW EMPTY.

[frank ballenger]

RE:At least 36 of Obama’s taxpayer-funded green energy projects went belly up.

So Dem answer is usually to just throw more money at them, gouged out of the taxpayers’ wealth. Taxpayers have no choice. Not since the Tea Party days.

[frank ballenger]

Reminds me, I owe the IRS this year. I’m sure they’ll put it to good use. No hard feelings or seething resentment. /S 🤬

[frank ballenger]

....said it will slash 15% of its workforce.

So more misery spread to everyone but those in the plush top floor office suites.

Wonder how many misguided workers there thought “at least I’m doing my part to fight climate change and end the use of oil.”

[ridesthemiles]

OVER $7,521,000,000 OVER 7 BILLION

And the bankruptcies are just starting even more

[VanShuyten]

I’m surprised Rivian isn’t on the list. Maybe soon.

Anyone interested in setting up “Bankrupt EV and Solar Repair Service” here in northern Virginia? Lots of suckers around here will need someone to fix their poor choices.

[A strike]

“Great designer, not so good head of car company....”

Really? Never ever seen a Frisker design in the real world.
Never ever

[Lockbox]

You may not of seen Fiskers Karma but Bob Lutz took over to install Corvette engines in the EV.

But... In 2007, Tesla Motors hired Fisker to perform initial design work on the Tesla Model S electric sedan which was introduced in 2012. So if you saw the early Telsa S, that was Fisker.

also he designed the BMW Z8, worked on the X5 and also Aston Martin V8 Vantage which you may have seen.

[kennedy]

Another One Bites the Dust

[Deplorable American1776]

Fiskers second bankruptcy...Should they have a third? Those cars look beautiful, however, EVs are yesterday technology. In the 1910s, they had Detroit Electric...

[minnesota_bound]

Maybe Fisker should make hybrids. I hear that is the next big thing....

[Deplorable American1776]

Take the scissors to Fiskers.......................

I see what you did... 🤓

[A strike]

‘k, but nothing named Frisker