News over the weekend about Fisker laying off 160 employees and teetering on the brink of financial meltdown have gained additional spice with Sarah Palin joining the right wing
political clamour
to brand the firm 'losers' in a startling intervention. Blame the fact much of Fisker's debt lies with the state, it apparently owing $193m to the Department of Energy with the deadline for payment this month and the need to cut costs to stave off bankruptcy reaching desperate levels.
The firm hasn't made any of its Karma luxury hybrids since last year and failed talks with Dongfeng Motor Group and Zhejiang Geely Holding Group have left it without further investment and facing an uncertain future. Even a successful $15m lawsuit against ex-battery supplier A123 Systems hasn't been enough, the sudden departure of founder and figurehead Henrik Fisker last month precipitating a downward spiral.
A high profile crash for Justin Bieber's chrome-plated Karma (Bieber wasn't at the wheel) perhaps serves as a metaphor for the company's fortunes, hit by the double whammy of its battery supplier going bust and 320 of its cars being destroyed in Hurricane Sandy. As it stands the future looks bleak for the posh Prius, although Jalopnik thinks bankruptcy may in fact offer salvation.