Henrik Fisker Explains Why He Left Fisker Automotive
March 18, 2013 11:40 AM
comment(s) - last by
Fisker denied that a possible sale to a Chinese firm had anything to do with it
Fisker Automotive's former executive chairman -- who
-- said he didn't leave because of the possibility of Fisker being bought by a Chinese firm.
Henrik Fisker, the co-founder of Fisker Automotive, resigned from his position as executive chairman citing issues with executive management. Many speculated that the possible takeover by a Chinese firm had something to do with his decision, but Fisker confirmed in an interview with
The Detroit News
that this is not the case.
"It's probably the most difficult decision I've ever made, but you know it was a decision that was necessary as I had major disagreements with the current executive management," said Fisker. "It would be wrong to stay.
"It was not specifically about the sale of the company. It was about the business strategy."
Fisker Automotive has been open to selling a majority stake of the company to Chinese firm Geely Automotive in order to fund the development of its next car -- the Atlantic. But this potential decision has been controversial since Geely is a Chinese company and Fisker was funded by the U.S. government for its Karma plug-in.
Fisker received $529 million in
in April 2010. The loans were part of a program to progress development of high-tech vehicles, where Fisker received $169 million for Karma plug-in engineering and $359 million for Nina production. The loans were also meant to revamp a closed General Motors plant in Wilmington, Delaware for Fisker EV production. However, Fisker fell a little behind on its production schedule, and in May 2011,
DOE froze the loans due to "unmet milestones."
Fisker had only drawn $193 million of it at that point.
The company has had other problems too, such as recalls, Hurricane Sandy destroying over 300 Fisker vehicles in New Jersey, and A123 Systems' (its battery supplier) bankruptcy.
"Despite these unbelievable, almost natural catastrophes that were against Fisker Automotive, I still think it proves how fantastic the Fisker team has performed," said Fisker.
The Detroit News
This article is over a month old, voting and posting comments is disabled
3/18/2013 6:15:38 PM
All sorts of things? You mean the truth? Yea it sucks when that happens to people taking our tax money and wasting it. That goes for both sides however you must think it's not. No reason our tax dollars should've been given or loaned to a non American company.
"If they're going to pirate somebody, we want it to be us rather than somebody else." -- Microsoft Business Group President Jeff Raikes
Fisker Automotive's Executive Chairman Resigns
March 13, 2013, 5:25 PM
House Committee Looks into Terms of DOE's Fisker Automotive Loans
October 23, 2012, 2:50 PM
Fisker Loses Access to DOE Loan, Lays Off Delaware Factory Employees
February 7, 2012, 11:31 AM
Study Predicts Self-Driving Vehicles Could Rake in Billions
March 6, 2015, 8:34 AM
Dual-Motor Tesla Model S P85D's "Insane Mode" Shocks Passengers
January 28, 2015, 11:18 PM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
BMW Testing Tech to Allow Users to Auto-Park, Summon Cars Via Smartwatch
December 16, 2014, 9:30 AM
Lamborghini Offers Up $6,000 Leather-Bound Android Smartphone
December 12, 2014, 3:12 PM
Quick Note: GM Teases Next Generation Chevrolet Volt
November 20, 2014, 3:26 PM
Most Popular Articles
America's Largest Cable Company, Comcast, Sees Internet Subscriptions Pass TV
May 4, 2015, 2:46 PM
Oculus Rift and Compatible Gaming Rig Will Likely Cost $1,000 or More
May 15, 2015, 3:50 PM
Can id Software's Doom Find Its Way Out of a 7+ Year Development Hell?
May 19, 2015, 7:38 PM
Microsoft Bricks the Xbox Ones of Gears of War Testers Responsible for Leaks
May 14, 2015, 5:26 PM
Oculus Rift Confirms "Pause" in OS X, Linux Development, Some Devs are Mad
May 18, 2015, 11:36 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information