Here's one more nail for the OC-based electric car company, which was unable to find a sucker... er, partner to infuse more money into the place. About 160 people out of the 200-person workforce are losing their jobs, what Fisker describes as "a necessary strategic step in our efforts to maximize the value of Fisker's core assets." Translation: We're screwed. Talk about your money pits: Fisker has raised $1.2 billion from investors and tapped nearly $200 million in government loans - all for a company that has not produced a single car since last summer, when the supplier of the car's lithium- ion batteries filed for bankruptcy. From Bloomberg:
Fisker has faced many challenges over the past month, including the abrupt resignation in March of its founder, Henrik Fisker, over "several major disagreements" with top management. Its efforts to find an investor in China also stalled. The company had been in talks with Chinese automakers Dongfeng Motor Group Co Ltd and Zhejiang Geely Holding Group to gauge interest in acquiring a majority stake. Both Geely and Dongfeng balked at the terms of Fisker's loan agreement with the DOE. Fisker's chief executive, Tony Posawatz, visited China to try to rekindle those deals, sources said.