Fisker Declares Bankrupcy

After many unaccepted offers to purchase, Fisker has been placed under the protection of U.S. bankruptcy law.

In addition, the independent manufacturer of the fully electric Karma sedan announced today it sold its assets to Hybrid Technology, the group of investors owned by billionaire Richard Li.

Moreover, it is very bad news for the U.S. government who won’t be able to recover a portion of loans to Fisker. In total, the U.S. government stands to lose about $139 million.

Fisker commenced deliveries of the Karma after certification in late 2011 but stopped production in summer 2012 due to financial difficulties and has been in limbo ever since.

There was to be a second model, called the Fisker Atlantic but development was put on hold amidst the financial trouble.

For fans of Fisker, there remains the possibility that Li’s organization might yet rescue the company but nothing is confirmed yet.

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