Car News of the Day : FISKER KARMA Bankruptcy Mismanagement and Rebirth

 

2010-fisker-karma-1_1280x0w

One of the black eyes for the Obama administration was the massive expenditure of taxpayer’s money that was paid out to save a bunch of mismanaged wall street companies that should have been allowed to go under for their, in many cases, excess and greed and incompetence.

One of these notorious companies that received hundreds of millions in taxpaper funding, was Fisker Automotive. This was the company that was hawking the 2011 Fisker Karma, a $100000 eco-friendly car that was going to be TESLA on steroids, but with a Green-Peace spin. Leather that was supposedly sourced from Happy Cows, cows that were kept as pets and died naturally as opposed to being raised and slaughtered for their skin. Yeah I know, ludicrous, but that was the pitch they were spinning back in 2011.

2010-fisker-karma-3_800x0w

And the car inside and out, did look drop dead gorgeous. But the company never got past selling an image to actually producing the car.  The company consistently was somehow unable to translate not only the promised half billion dollars in tax payer money, but the millions more in pre-orders sparked by interest in the Karma, into a successful production run.

So end of the day you were left with a few people who did receive the car and were not entirely satisfied because the car would stop running or catch on fire 🙂 , many more people who did not receive the car at all, and were very unhappy, and Fisker Automotive that declared bankruptcy in 2012, a year after touting the future of electric and eco friendly cars, walking away without paying back hundreds of millions of Tax Payer Dollars.

Well that company is back in 2016, now renamed Karma Automotive, and backed by a Chinese firm. and touting a new car to be announced this July or August. Fisker Karma looks like a dream of a car, but the reality was a little bit more nightmare the last time.  And when someone has burnt the taxpayers once for hundreds of millions of dollars, I’m far less likely to want to give them another chance. No matter how they rename the company.

So I’ll leave you some images of the dream that was Fisker Karma (now Karma Automotive), a dream that TESLA seems the closest to living up to.

 

https://i0.wp.com/pictures.topspeed.com/IMG/crop/201504/fisker-aston-lawsuit_1600x0w.jpg

The 2015 concept for the THUNDERBOLT looked stellar in images, but ultimately like other touted Fisker projects ended up coming to naught. And this one very nearly had car company Aston Martin go all James Bond on them, but with a law suit rather than a PPK.

https://i2.wp.com/pictures.topspeed.com/IMG/crop/201503/2016-ford-mustang-rocket--7_800x0w.jpg

This one is a concept car called the Ford Mustang ROCKET  that Fisker did for a 2014 autoshow. Fisker is definitely very talented at customization, in building or rebranding existing cars into souped up spectacles. Where their fault may have lied was in thinking this made them an automotive manufacturer. The latter is a designation that continues to elude them.

 

For more on Fisker Automotive and Karma Automotive, read the following:

Taxpayers lose $139 million on Fisker Automotive loan

http://www.theverge.com/2013/4/18/4239700/fisker-karma-road-to-ruin-one-billion-dollars-squandered

http://www.theverge.com/2012/3/9/2857779/fisker-karma-hybrid-electric-car-breaks-down-during-consumer-reports-testing

http://www.greencarreports.com/news/1097079_want-a-fisker-karma-lots-of-used-ones-for-sale

http://www.topspeed.com/cars/fisker/index238.html

http://www.topspeed.com/cars/car-news/fisker-aston-lawsuit-dropped-thunderbolt-will-not-be-produced-ar168719.html

http://www.caranddriver.com/news/2015-ford-mustang-galpin-rocket-photos-and-info-news

 

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