dnmun
1 PW
The founder and executive chairman of hybrid car maker Fisker Automotive has reportedly resigned.
Henrik Fisker told Automotive News in an email that he had resigned because of “several major disagreements” with management on the company’s business strategy.
In December, the company hired investment bankers to search for a partner to keep the company going.
Fisker’s $110,000 high-end vehicles have failed to catch on, and the company halted production last summer. In addition, its battery supplier, A123, went bankrupt, complicating efforts to restart production.
Fisker received $192 million in Energy Department loans as part of the Obama administration’s effort to promote production of electric vehicles, according to The Wall Street Journal.
A half-billion dollar loan from the DOE was put on hold last year, after the company missed new-vehicle development deadlines.
Tony Posawatz, previously the vehicle line director for the Chevrolet Volt plug-in hybrid, became Fisker CEO in August. He told Automotive News the company is “in the midst of some serious negotiating.”
Last month China’s Zhejiang Geely emerged as the lead bidder for a deal with Fisker. Zhejiang Geely also owns Volvo.
– Tom Bemis
Henrik Fisker told Automotive News in an email that he had resigned because of “several major disagreements” with management on the company’s business strategy.
In December, the company hired investment bankers to search for a partner to keep the company going.
Fisker’s $110,000 high-end vehicles have failed to catch on, and the company halted production last summer. In addition, its battery supplier, A123, went bankrupt, complicating efforts to restart production.
Fisker received $192 million in Energy Department loans as part of the Obama administration’s effort to promote production of electric vehicles, according to The Wall Street Journal.
A half-billion dollar loan from the DOE was put on hold last year, after the company missed new-vehicle development deadlines.
Tony Posawatz, previously the vehicle line director for the Chevrolet Volt plug-in hybrid, became Fisker CEO in August. He told Automotive News the company is “in the midst of some serious negotiating.”
Last month China’s Zhejiang Geely emerged as the lead bidder for a deal with Fisker. Zhejiang Geely also owns Volvo.
– Tom Bemis