Saturday, January 4, 2014

Fisker finally files for bankruptcy, new owner is Hybrid Tech Holdings

After 18 months of not building any vehicles, plug-in vehicle company Fisker finally threw in the Chapter 11 towel today, filing for bankruptcy protection. The Department of Energy sold its Fisker assets to Hybrid Tech Holdings LLC for $25 million, at a reported $139-million loss. Other reports say the DOE invested $192 million in Fisker, and only got around $53 million back. The DOE put Fisker up for auction last month. Fisker also apparently owes creditors up to a billion dollars. Whatever the exact figures, the point is that the Fisker saga now enters a new phase.
Hybrid Tech Holdings is a somewhat mysterious investor group, one that does not have a website for more information, as far as we can tell. Spokeswoman Caroline Langdale told Bloomberg that she could not reveal who's behind the group, or even where it is located. "Unfortunately we can't comment beyond the press release at this time," she said. This won't be the last we hear of Fisker, though. Bloomberg says the LLC bought the Fisker remnants so it can, "eventually restart... production and sale of the Karma," as well as "other hybrid-electric vehicles." Fisker's press release is available below.