Fisker Lays Off Most Workers, Plans To Shop Around Remaining Assets

After being saddled with a half-billion dollars in loans from the U.S. Department of Energy, electric car manufacturer Fisker just can't catch a break. It's not just the cars; it's the company itself. From a Reuters report: "In a statement, Fisker confirmed that it let go about 75 percent of its workforce. The automaker said it was 'a necessary strategic step in our efforts to maximize the value of Fisker's core assets.' A Fisker representative could not immediately answer questions on the company's financial position. In the past, the automaker has declined to comment on the possibility of bankruptcy. ... About 160 employees were terminated at a Friday morning meeting at Fisker's Anaheim, California, headquarters, according to a second source who attended the meeting. They were told that the company could not afford to give them severance payments."

Comments

And nobody learned nuthin'

[RogueWarrior65]

What amazes me is that nobody is learning anything from these green technology failures. Most people live in the real world where they know they can't afford to be green. Solar panels? That's nice in theory but when people realize that they might never be able to recoup the investment they say "Next!" Hybrid cars? Sounds fine on paper but when the owners discover how much it costs to replace the battery pack they don't bother installing one and instead run on gasoline only. And then of course most people have a NIMBY attitude towards green technology or they shoot themselves in the foot with their own love of the environment as in the case of killing a green energy project because of some endangered species.

Remember, boys and girls:

[L. J. Beauregard]

* $500M to develop electric cars: zOMG SOOOOOOOOOCIALISM!
* Unlimited funds to blow shit up in Iraq: USA! USA! USA! USA! USA!

Re: And no one will learn yet again.

[lgw]

Wow, there are still people who believe in "peak oil"? I guess it really is a religion - no amount of reality can budge the faithful.

Throwing government money at a company to create a product the market doesn't want (yet?) incentivizes only corruption. Since the product will fail anyhow, the more you can pocket, the better off you are.

Tesla seems to be unique - while they wouldn't have made it without all the government cash, Musk really seems to have found a product people will actually buy (unlike Tesla's original roadster, which while neat and all just wasn't selling). I love the idea of a car like the Tesla sedan - but only to the extent that people actually want to buy it for what it is, without subsidies. If it's not, let it fail too.