Henrik Fisker Partners With Chinese Firm To Bid For Fisker Automotive?

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Henrik Fisker

Henrik Fisker

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The man after whom electric automaker Fisker Automotive is named, Henrik Fisker, could now be the man who buys back the company as it spirals into bankruptcy.

Just a week after ex-GM executive Bob Lutz and Chinese firm Wanxiang bid for the ailing automaker, Reuters reports the company's co-founder is also interested in regaining control.

Fisker resigned as the company's chairman in March, citing major disagreements with the company's business strategy. He later told reporters he felt it would have been "wrong to stay".

Despite Henrik Fisker's departure, he appeared to remain loyal to the company he helped start--even buying a Fisker Karma model after his own company car had to be handed back.

Fisker and a Hong Kong-based investor group are thought to be offering between $25m-$50m for the the automaker's Department of Energy (DoE) loan, saving the company from having to resort to bankruptcy.

Last week's VL Automotive and Wanxiang bid was thought to be around the $20 million mark.

Buying out the DoE loan is an attractive proposition for all concerned at the moment, even though the DoE would recover only pennies on the dollar should it be sold for the reported $20m-$30m--against an outstanding $171 million.

For the DoE, it means recovering the largest amount of taxpayer money possible.

For buyers of Fisker, it not only means other backers of the business might still have a chance to recoup their investment--against a bankruptcy, where their investment would be wiped out--but it also makes the company more valuable for a possible future sale.

Sources close to the deal suggest the amounts being discussed could still rise, and caution that discussions are still ongoing.


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Comments (11)
  1. I never understood the fascination with the Karma. It is ugly, a fire hazard, and a PHEV. It guzzles gas. It is no where near a "green" car. It is an insult when I hear right-wingers like those on Faux News claim it is a failed "green car" or an EV. It is neither. It is a rich mans toy that harms the environment. Get a Model S.

  2. I never understood why so many Tesla fans hate on the Fisker Karma. You are absolutely in the vast minority when you call it ugly, only 1 caught fire that was there fault, it doesn't "guzzle gas" for everyone (people get from 20-400+ MPG) which yes does make it a "green" car. Range anxiety is real and not everyone is ready for EV so EVer is the next logical step. Stop hating! We are on the same team...

  3. Greg I agree with you. I test drive a Fisker and hoping that Mr Fisker can make a come back. The Fisker Karma will be my next car. Nothing against Model S but don't want to be stuck without range and my experience of rest driving Fisker was far better than Tesla. Fisker dealers are subtle and allow customers to choose. Tesla sales people are aggressive and force you to buy the car. Also I disagree with Consumers reports review of Tesla: it's not unbiased. There is a major Toyota sponsors Consimer Reports and Toyota invests in Tesla angle.

  4. The Model S is far superior to the Karma I've driven both and I really feel that the Karma isn't worth it. But I do agree with you about the Tesla sales people, they were in my area for Plug-in Day last year with a Model S. When I asked if I could sign up for a test drive I was asked if had a reservation, I said I didn't and he told me "no, but your welcome to come in for a test drive at the store". That ticked me off because the store is over 200 miles away and yet I was looking at the car just 15 minutes from my house. I've been given Ferraris to test for an entire weekend but I couldn't drive a Model S unless I paid the $5,000 deposit, that's no way to sell a car.

  5. @Greg,

    I agree that "hating" each other is wrong. However, most "haters" feel that Fisker is a poorly executed product and has "tarnished" the reputation of the entire "green car" or EV community. That alone brings out some major "hate" toward it.

    But I agree that any kind of electricification should be celebrated. I firmly believe that PHEV/EREV is a necessary step toward cheap/affordable and Practical BEVs in the future where infrastructures will support long distance traveling.

  6. Xiaolong I have read your comments on several posts and they are quite insulting. It is a pleasant surprise to read civilized comments from you. But I see you continue to defame Fisker with an agenda.

  7. "400" MPG is highly misleading. Yes, you may average 400 miles per gallon, if you only drive 20 miles every charge for months, and then drive for about 10 miles on gas, because the thing guzzles at 20 MPG. Even "MPGe" is only 52, half of nearly all true EVs. No car with these figures could be considered green.

    I will tell you why I dislike Fiska so much. They like to pretend to be green, which is a total lie. They are total failures and make the rest of the industry look bad. I predicted there outcome years ago, they were so unreliable in everything they said.

    Many Karmas caught on fire than just one. One was a fan failure, totally Fisker's fault. Second, from Wiki: "…Fisker recalled the first 239 Karmas … due to a risk of battery fire"

  8. That's not correct. Fisker and not Fiska! Had one incident of a fire which was related to a fan supplied by a vendor. There were no multiple fires. As far as a recall goes, it is standard in the industry. You would only hate a car or be surprised if you dud not own a car! If that is your reason for hating Fisker, then I have news for you. Tesla roadster had 2 recalls, Chevvy Volt was recalled immediately, and pretty much every car maker has recalled vehicles with Toyota being the largest recaller. So the only reason you would write hate blogs for Fisker if you worked for Tesla.

  9. I really prefer the front end on the Destino and really hope Bob Lutz ends up successful. I think it is the only chance of survival for Fisker.

  10. Fisher has the talent to design a pretty car, but not the talent--nor integrity--to make a pretty car that's functional and manufactured well. He's an con artist and opportunist trying to operate above his level. It will be unfortunate for any company to partner with him, just look at the long string of colossal failures (FiskerAutomotive--duh--Fisker Coachbuild, his time with Tesla).

  11. Bryan Sorry disagree with your personal hate comments towards Mr Fisker. I am. Due hard fan of all his designs and have met Mr Fisker at car shows and followed his work. He is the opposite of Your personal hatred towards him. Not only does Mr Fisker's work speak for itself but also the fact that Tesla had a dedicated campaign and bloggers as yourself permanently writing hate comments against Fisker shows the fairness. Mr Musk personally tried to stop Fisker with a false lawsuit, instead failed and lost to Fisker. Fisker never resorted to cheap, hate blogging as Tesla has done through individuals as yourself! That shows fairness and integrity.

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