2012 Fisker Karma Eco Standard Sedan * Only 6,604 Miles * 403hp Hybrid on 2040-cars

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Fisker bankruptcy auction scheduled for February 12

Will the long, twisted tale of Fisker Automotive and it bankruptcy assets finally end on February 12? It might, because that's the date a bankruptcy court has now set for an auction to let the bidders decide who will take home the plug-in automaker's goods. The auction will be held at the law offices of Kirkland & Ellis in New York, according to a new report in Reuters. As we know, China's Wanxiang Group and Hybrid Tech Holdings are the two companies who are most vocal in their desire for Fisker. After an initial bid of around $25 million, Hybrid Tech is now ready to start the bidding on the 12th at $55 million and basically called itself Fisker's best friend during this troubling time in a recent statement. The controllers of the Fisker assets say they prefer Hybrid Tech's bid to Wanxiang's. Fisker stopped making the plug-in hybrid Karma in late 2012 and filed for Chapter 11 bankruptcy last year. Fisker's assets were supposed to be sold to Hybrid Tech Holdings in early January, but a last-minute stalking horse bid by Wanxiang set in motion the series of events that will lead to the auction next month.

Recharge Wrap-up: Fisker takes apart Finland assembly, Nissan Leaf sales in Europe expected to grow 25%

The Fisker Karma's Uusikaupunki, Finland production lines are being dismantled. The lines, operated by Valmet Automotive in the same plant that assembles the Mercedes-Benz A-Class, have been idle since Fisker's money woes brought them to a halt in 2012. Fisker, which has since been purchased by Wanxiang, and Valmet are still in talks over future collaboration. Read more at YLE. Nissan expects a double-digit percentage growth in Leaf sales in Europe in 2015. Nissan Europe's Jean-Pierre Diernaz puts that number at around 25 percent over 2014's record sales. Part of this is due to much lower prices than earlier model years, thanks to government incentives and lower production costs than earlier model years. Diernaz also said that the e-NV200 van will make up about 20 percent of Nissan's EV sales in Europe. Read more at Automotive News Europe. EV drivers pay less on average in taxes than gasoline vehicle drivers in every state except Virginia. Some states impose extra taxes and registration fees for EVs to make up for lost revenue from fuel taxes, but EV drivers still come out ahead, even when compared to high-mileage cars like the Toyota Prius. Even in Wisconsin - which might follow Colorado, Nebraska, North Carolina, Virginia and Washington in added EV fees - those who drive electric should fare better. Virginia, however, charges EV drivers an extra $114 annually across two added fees, while gas drivers would only get dinged about $35.10 in gas taxes in a 50-mpg car. Read more at Green Car Reports. Two hydrogen-powered electric bus prototypes will be deployed on a trial basis Hamburg, Germany. The Solaris articulated electric buses use fuel cell range extenders from Ballard. The buses were unveiled on December 18, and will go into operation in January 2015. The German government is funding the trial, and Hamburg aims to cease the purchase of diesel buses by 2020. The new-generation fuel cell system in the two Hamburg buses improve upon Ballard's previous design by using fewer parts and exhibiting less parasitic power loss from the integrated air compressor and coolant pump. Read more at Ballard's website. Featured Gallery 2012 Fisker Karma: Second Drive View 30 Photos Related Gallery 2013 Nissan Leaf View 55 Photos News Source: YLE, Automotive News Europe, Green Car Reports, BallardImage Credit: Copyright 2014 Drew Phillips / AOL Green Fisker Nissan Alternative Fuels Transportation Alternatives Electric Hydrogen Cars recharge wrapup

As Fisker heads toward liquidation, creditors fight over assets

NEW YORK — Electric vehicle startup Fisker is headed towards a liquidation, attorneys said in U.S. bankruptcy court on Friday, as two creditor factions previewed a battle over which group will be paid first.  Fisker filed for bankruptcy protection in Delaware on Monday after burning through cash in an attempt to ramp up production of its Ocean SUVs. The company initially said it would seek additional financing and continue "reduced operations," but Fisker's attorney Brian Resnick said at the hearing in Wilmington the company does "not currently anticipate being able to obtain financing."  Resnick told U.S. Bankruptcy Judge Thomas Horan that the company planned to liquidate its assets, and it has reached a tentative deal with a single buyer for all of its 4,300 vehicles.  The California-based company, founded by automotive designer Henrik Fisker, was never profitable, with about $273 million in revenue in 2023 and a net loss of $940 million.  Fisker owes over $850 million to two groups of bondholders, and attorneys for the larger group accused a minority faction led by Heights Capital Management of seizing control of Fisker's debt in November through a "suspect" transaction with Fisker.  At the time, Fisker was late in providing audited financial statements due under its debt agreements, and Heights used that "minor, technical default" to claim all of Fisker's assets as collateral on its bonds, Alex Lees, an attorney for other bondholders, said.  "They basically handed the whole business over to Heights," Lees told Horan. "Fisker has been liquidating outside of this court's supervision, basically for one creditor's sole benefit."  Lees said that Fisker should have filed for bankruptcy in November. His group intends to challenge the November agreement that put Heights at the front of the line for repayment in Fisker's bankruptcy, Lees said.  Heights' attorney Scott Greissman said Lees' claim was "outrageous" and that Heights tried to help Fisker survive.  "There may be a lot of disappointed creditors, but none more than Heights," Greissman said.  Greissman said the expected sale of Fisker's fleet would pay only a "fraction" of Heights' $185 million in debt. That would leave little hope of repayment for other creditors.  Linda Richenderfer, an attorney for the U.S.