Fisker Karma Posts

Fisker and Wanxiang are restarting Karma production this year

Fisker Karma
Fisker Automotive was acquired by the largest auto parts company in China, Wanxiang Group. The two companies are planning to restart production of the Karma plugin hybrid luxury car within the next year.
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Fisker’s assets were sold for $149 million to Wanxiang

Fisker Karma
Wanxiang, a Chinese parts maker, has acquired Fisker’s assets for $149 million. Fisker Automotive went bankrupt in the summer of 2012. Fisker’s assets were sold to Wanxiang at the close of an auction in a Delaware bankruptcy court that lasted over two days across 19 rounds.
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Wanxiang increases offer for Fisker Automotive with an additional $10 million

Fisker Karma
Wanxiang Group is a large Chinese auto company that has increased their offer for Fisker Automotive. Wanxiang increased the offer by another $10 million in cash to around $35.7 million. Wanxiang may increase the offer by even more if the judge approves of the proposed sales process, according to an attorney with Fisker’s official committee of unsecured creditors, William Baldiga. Baldiga said that there is “considerable room to go.”

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Fisker Automotive Files For Chapter 11 Bankruptcy

Fisker Karma
Fisker Automotive has filed for Chapter 11 bankruptcy protection on Friday as part of a restructuring plan.  Hybrid Tech Holdings LLC is buying Fisker’s assets and will provide $8 million in debtor-in-possession financing for funding the sale and restructuring.

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Fisker Suing XL Group Over Vehicles Destroyed By Hurricane Sandy

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.

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The Best Electric Cars

Since the Pulse2 founders were raised near the Motor City, we have naturally become car enthusiasts. We have tons of family and friends that work at the big auto companies and their suppliers. After the Department of Energy and the Obama administration pushed billions of dollars in the auto industry, we saw some changes in the environment around us. The optimism from Detroit companies grew since they were getting into the electric vehicle game. We have seen Henrik Fisker and Elon Musk build some great automobiles over the last few years too. This is why we have compiled a list of some of the best electric cars available on the market right now along with their specs. If there are some details that we have missed, let us know in the comments.
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Hurricane Sandy Destroys $30 Million Worth Of Fisker Karma Vehicles

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.

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Tony Posawatz Becomes CEO Of Fisker Karma

Tony Posawatz
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.”

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