In what is just the latest inability of Fisker Automotive to stay in business, the company announced today it was laying off three-quarters of its workforce. At one time the company had 600 people building cars but most of those had already been sent packing when the company they had been relying on for their battery tech, A123 Systems Inc., went into bankruptcy protection last year.
Since then Fisker has tried to restructure and cut back on expenses (including a reduction in their labor force) but they have been unable to produce a single vehicle. And sales of what vehicles they had produced, the $100,000 Fisker Karma have been tepid. That wasn’t helped by poor reviews of the automobile which included questions about its reliability.
Fisker has been touting a much improved, slightly more modestly priced vehicle they are naming the Atlantic coupe. But that vehicle has not yet been produced, and if something fantastic doesn’t happen soon it seems unlikely Fisker will ever get it off the production line.
The co-founder of Fisker Automotive, Henrik Fisker, left the company recently because he didn’t like the business decisions being made there, decisions being made by the CEO Tony Posawatz, brought on board from General Motors where he was chief of the electric car division. Posawatz has said he hopes to find either a buyer for Fisker or a company which will partner with them, but so far, no takers.
At one time, the height of the electric car resurgence, Fisker was considered a wonderkind of the automotive world, but now, it looks as if what some had hoped would be its greatest contribution to the world will not come to fruition.