Tom LaSorda (former CEO of Chrysler Group LLC), Fisker Automotive, and car racing mogul Roger Penske (pictured above) have launched a new venture capital fund to invest in technology startups called IncWell LP. IncWell will invest between $50,000 and $250,000 per company. IncWell will focus primarily on clean energy, medical, healthcare, transportation, and information applications.
Just when you thought things couldn’t get any worse for Fisker Automotive. The company is now facing another lawsuit that was filed at the Orange County Superior Court. Ignited, the company that designed Fisker’s website and mobile app, has filed a lawsuit against the company alleging $535,000 in unpaid bills. Ignited said that they provided Fisker web design, creative and media buying services, and advertising. Fisker is also embroiled in a class action lawsuit for laying off 75% off their workforce and another lawsuit for unpaid rent. All three of these lawsuits were filed this month alone.
Last month, Henrik Fisker stepped down from the Fisker Automotive Inc. Disagreements with management was the reason cited for his departure. Now Fisker Automotive will be cutting a large number of their workforce. The number of people that will be laid off is approximately 160 out of the 200 total people that they employ. This means that Fisker Automotive will have only 25% of their current workforce to work with.
Henrik Fisker is known for designing the exterior of the BMW Z8 and the Aston Martin DB9. Before that, he worked at Ford’s Advanced Design Studio and served on the Aston Martin board of directors.
XL Group Plc denied insurance coverage related to damages incurred by Fisker Automotive caused by Hurricane Sandy. A total of 338 Karma plug-in hybrid vehicles were damaged as a result of the hurricane. The vehicles were valued at around $33 million. The Fisker Karma vehicles were parked at Port Newark in New Jersey. This shipping facility was destroyed by Hurricane Sandy. Fisker filed a complaint this past Friday in the New York State Supreme Court in Manhattan.
Fisker Automotive has hired Joel Ewanick, the former global marketing chief at General Motors. Mr. Ewanick will be the interim global sales and marketing leader at Fisker. Mr. Ewanick will be a consultant for Fisker while they search for a permanent replacement for Richard Beattie.
Last week Hurricane Sandy caused millions of dollars worth of damage in the Northeast of the United States. There was even a fire in Port Newark, New Jersey that destroyed 16 Fisker Karma plug-in hybrids.
Tony Posawatz was the vehicle line director of the Chevrolet Volt and now he is the CEO of Fisker Karma. Posawatz retired from General Motors last month before he was brought back into working mode again. He replaces Tom LaSorda, who has been CEO of Fisker Karma since February. Posawatz stepped down from GM to “spend more time with his family.”
