Here is how the ambitious Fisker Automotive car company went bankrupt.
Ex Aston Marton and BMW car designer, Henrik Fisker, had a vision of starting his own car company. He wanted to not only produce some of the world's most beautifully designed cars, but he them to be both environmentally friendly and have excellent performance. Unfortunately due to a few unforeseen circumstances and design errors, the entire company went bankrupt.
At the start of Fisker Automotive, each car was made by hand per order, which cost the consumer a tremendous amount. Furthermore, a very limited run per model ever left the factory. But, after a huge loan from the US Department Of Energy, Fisker Automotive now had the resources to finally manufacture their first mass-production model called the Fisker Karma.
Aside from the Fisker Karma's stunning looks and great performance, the battery supplier company that produced the car's electric motors had to recall each and every Fisker Karma in for a replacement. This gave Fisker Automotive a bad reputation, even more so as it was an unknown name at the time. Furthermore, the Fisker Karma also had some design flaws of its own. One being the exhausts which were mounted behind the front wheels, which would flood the cabin with toxic fumes when the car was stationary and the driver had their window down. Also, the infotainment system was cumbersome and sluggish and the car had very limited storage and legroom.
The Fisker Karma was indeed one of a kind, but Fisker Automotive gambled the future of the company on the success of the Karma which, soon after its debut, showed otherwise.
And, to top it all off, the majority of brand new and unsold Fisker Karma's at the factory got written off thanks to the devastating hurricane Sandy.
Unfortunately Fisker Automotive never recovered.
Take a look at the video below by YouTube channel, Bright Sun Films, on How Fisker Automotive Went Bankrupt.
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