Is $20 million the final valuation of electric car maker Fisker Automotive? Yikes, that’s what a group is reportedly bidding on Fisker for, and which would be less than 1% of its original valuation. Read more »
We’ve got the results of our survey on how Fisker’s struggles could affect the electric car market, government incentives and cleantech investing. Check out my 21-page report I wrote for GigaOM Pro, and some of the teasers in this post. Read more »
Electric car startup Fisker Automotive, along with its plug-in sports car, is turning out to be one of the worst venture capital bets of all time. We asked GigaOM readers a variety of questions about what they think will happen to Fisker and what they think will be the broader implications of and lessons learned from Fisker’s high-profile crash and burn. Here are the results. Read more at GigaOM Pro »
Here’s the details of the class action lawsuit filed against Coda Automotive that I referenced yesterday: it’s a complaint that Coda Automotive allegedly violated the WARN Act, that requires large employers to give employees 60 days written notice of mass layoffs. Read more »
Like Fisker Automotive, electric car company Coda Automotive is getting hit with lawsuits. It’s got over a half dozen filed within the last couple of months. Read more »
Fisker Automotive seems to be close to bankruptcy and just went through a hearing on Capital Hill. We invite GigaOM Readers to share their thoughts on the electric vehicle maker and how this news will affect the larger cleantech sector. Read more »
Fisker seems to move even closer to bankruptcy as it defaults on its first loan payment and has funds seized by the government. Read more »
We bring you the behind the scenes story of how electric car startup Fisker Automotive spent over a billion dollars, took down a government loan and ultimately delivered about 2,000 cars, a small fraction of what it originally promised. Read more »
The lawsuits are piling up for electric car startup Fisker Automotive — here’s the third this month, this time from design and communication firm Ignited over an alleged unpaid bill of $535K. Read more »
Fisker’s landlord has filed a suit that says the electric car company has to pay its April rent or evacuate its headquarters. The company seems to be getting ever closer to bankruptcy. Read more »
The first quarter of cleantech was a mix of good and bad news. Avis’ purchase of Zipcar and Silver Spring Networks’ long-awaited IPO finally occurring were further signs of thawing capital markets and movement in the acquisition space. However, in both situations valuations were lower than hoped, a sign of how investors view cleantech. Read more at GigaOM Pro »
Following Fisker’s decision to layoff 160 employees, or 75 percent of its staff, last week, the company has been hit with a class action lawsuit for allegedly violating the WARN Act, which says large companies need to give employees 60 days notice for mass layoffs. Read more »
According to sources electric car startup Fisker Automotive is laying off most of its staff and is announcing that to employees today. Read more »
Tesla is successfully morphing into a profitable electric car maker, while Fisker is coming ever closer to stumbling, has lost its founder and hasn’t made a car since last Summer. How did these two end up in such different places? Read more »
The co-founder of electric car startup Fisker has resigned, after having stepped down as CEO a year ago. The company has stopped production of its cars as it searches for a partner, investor or acquirer in China. Read more »
One of the more subtle problems with the first wave of cleantech investing I think has to do with passion, identity and save-the-world over exuberance. It’s hard to call that a fault, but when it comes to making money in the VC model, it’s a problem. Read more »
Fisker is the latest electric car maker to reach out to Chinese investors and auto tech giants for investment and acquisition. And it’s also the latest electric car company to struggle and face a discounted value. Read more »
As electric car startup Coda faces slow sales of its electric sedan, its been hit with a series of lawsuits buy vendors for not payings its bills on time. While the company is dealing with those, the future of the startup is uncertain. Read more »
In contrast to the bulk of the electric car companies and vendors out there, Tesla actually reaches its planned production run rate of its Model S electric car. This is its path to profitability and mainstream auto status. Read more »
In a surprising move, President Obama called out the need to fight climate change and transition to cleaner energy sources in his inauguration speech on Monday morning. While Obama’s first term provided many resources for clean energy, the administration’s support became controversial and politicized. Read more »
On the tail end of a very difficult year for electric car company Fisker, the company reveals that its insurance claim for 338 Karmas, worth $33 million, was denied by the insurance company, and Fisker is now suing XL Insurance America in court. Read more »
Yet another electric car startup is having trouble. Coda Automotive is laying off 50 employees — or 15 percent of staff — after a delayed launch, slow sales, and a car recall. The bad news follows Better Place layoffs, and A123 System’s bankruptcy. Read more »
What will be the fate of electric car startup Fisker Automotive after a very difficult year? My speculation: something’s gotta give in 2013. Read more »
Electric car startup Fisker Automotive says it won’t be producing its second car the Atlantic until at least the end of 2014, or early 2015. Is it moving into the realm of vaporware? Read more »
Not surprisingly Vice Presidential candidate Paul Ryan raised a brief argument about “green pork,” and referred to taxpayer dollars going to making “electric cars in Finland,” and “windmills in China.” And Fisker is now two for two in references in these debates. Read more »
Electric car maker Fisker Automotive has managed to raise $100 million of its planned $150 million round, bringing the company’s funds to a eye brow raising $1.2 billion. Advanced Equities led the fund raise. Read more »
Investment group Advanced Equities has agreed to pay $1 million to settle charges that it misled investors while raising funds for an alternative energy company in Silicon Valley back in 2009 and 2010. That company in question is reportedly fuel cell maker Bloom Energy. Read more »
While Wanxiang is not a known name in the U.S., it’s one of China’s largest industrial parts makers and it’s making very aggressive bets on U.S. cleantech startups, some of which have been struggling. Read more »
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Is it the end of an era for the former rock star venture capital firm Kleiner Perkins and did greentech play a large part in that fall from grace? Read more »
Electric car maker Fisker recalls a cooling fan for its electric Karma car that led to a fire earlier this month. Read more »
Fisker is raising even more money — another $150 million — on top of the $1 billion it’s already raised. How long will private investors be willing to keep funding the electric car maker? Read more »
Electric car maker Fisker Automotive is bringing on a new CEO, Tony Posawatz, who will replace former CEO Tom LaSorda. LaSorda came on to replace founder Henrik Fisker as CEO about 6 months ago. Posawatz was previously at GM where he worked on the Volt. Read more »
Proving that the venture model is working for at least a few select brand name venture capitalists, NEA announced on Wednesday that it’s closed a massive $2.6 billion new fund. The firm describes the fund as “one of the largest venture funds ever raised.” Read more »
Electric car company Fisker Automotive has a lot of investors — its broker Advanced Equities helped it raise funds from dozens of high-net worth individuals, in addition to its funding from venture capitalists. Turns out one of those investors is actor Leonardo DiCaprio. Read more »
Advanced Equities, an investment and brokerage firm that has helped raise hundreds of millions of dollars for cleantech firms in recent years, could see its CEO and co-founder resign as early as this week, according to a report in DowJones VentureWire. Read more »
Kleiner Perkins says it has closed its next $525 million fund 15 and confirms that cleantech-focused investors Ray Lane and Bill Joy will not be leading investments for the new fund. Read more »
For the electric car to be a mainstream success it needs to follow the closed Apple model, not the open Google model. Read more »
Electric car startup Fisker Automotive unveiled a design prototype of its second extended-range electric car that is now being called the Atlantic (formerly called Project Nina) at an event in New York City on Tuesday night. Read more »
Electric car maker Fisker Automotive has boosted its fund raising plans by $200 million, according to a filing. The company has now raised around a billion in private funding. Read more »
A year after the Vehicle Production Group (VPG) closed a $50 million Department of Energy loan for designing a natural gas vehicle, the company used the money as planned, began production and is seeing hundreds of vehicles on the road so far. Read more »
