2023 Fisker Ocean on 2040-cars

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Henrik Fisker says he's developing EVs in 'stealth mode'

VLF Automotive added a second model to their small lineup earlier this year. While the Force 1 sports car continued the company's tradition of cars with big displacement gas engines, a story by The Detroit News reveals that corporate partner Henrik Fisker isn't done with electric cars. The story is basically an inside look at how the company operates along with some insight on the company from Bob Lutz, one of the founders, and Henrik Fisker. However, among general comments about the company, Fisker told Detroit News that he's "definitely working in stealth mode on electric cars of the future." The news outlet also reported that Fisker said he's nearing a battery breakthrough and there might be a future electric VLF bearing his name. His interest in continuing with EVs is consistent with past statements, but this is the first we've heard of him actively working on electric car technology. Fisker wanting to stay under the radar in regards to electric car development is also understandable. His previous self-titled car company showed promise with the beautiful Karma plug-in hybrid, but it went bankrupt and was sold off to a Chinese car company. The Chinese company renamed itself Karma and is planning on selling cars again soon. Fisker's other interim automotive ventures have been met with mixed success. He teamed up with Galpin Auto Sport to create a custom Aston Martin Vanquish and Ford Mustang. The former resulted in a lawsuit from Aston, and the latter had polarizing styling. Setbacks clearly don't discourage Fisker though, and he even has plenty of things outside of VLF to keep him busy. He's currently working on a yacht for boat-builder Benetti, and he told The Detroit News he even has an idea for a TV show about building cars. For more on Fisker and VLF, check out the whole Detroit News story here. Related Video: Featured Gallery VLF Force 1 V10: Detroit 2016 View 17 Photos News Source: The Detroit NewsImage Credit: Drew Phillips Green Fisker Automakers Electric Future Vehicles Henrik Fisker karma karma automotive vlf automotive vlf

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.

Over 40,000 customers reportedly cancel their Fisker Ocean reservation

Fisker's ongoing financial troubles have reportedly scared off a substantial number of the buyers who reserved the electric Ocean crossover with a refundable deposit. The company has lost more than 40,000 reservations that it will need to reimburse, according to a recent report. Citing leaked data and internal metrics, Business Insider wrote that Fisker received between 70 and 80 cancellations per day "in a recent seven-day average." The total number of canceled reservations stands at over 40,000, the report said, which represents a huge chunk of the reported 70,000-plus reservations the firm has collected since it opened the order book in November 2019. Fisker hasn't commented on the report. If this is accurate, the cancellations compound Fisker's problems in several ways. First, the brand's sales forecast has seemingly fallen by over 50%, meaning its revenue forecast has inevitably dropped by the same number. This comes at a time Fisker needs to generate more sales in order to stay afloat; it recently paused production of the Ocean to save money, and it's sitting on a massive inventory of unsold cars. Second, Fisker will need to refund the deposit it collected from every reservation holder who cancels, according to Business Insider and the brand's terms and conditions. It costs $250 to reserve one example of the Ocean and $100 for each additional reservation; both sums are refundable. Fisker keeps the $25 processing fee that's added to every reservation, however. The publication estimates Fisker owes its customer base about $9 million. It adds that "a few thousand" customers have separately canceled an order, though the $5,000 deposit on those isn't fully refundable. It's not far-fetched to assume some of the customers who reportedly canceled a reservation realized they can get a new Ocean right away for much cheaper than initially advertised — Fisker slashed the price of its leftover 2023 models by up to $24,000 in March 2024 to trim its inventory of unsold cars and generate cash. Other customers might have simply lost faith in a company teetering on the brink of bankruptcy. While the Ocean, which is built by Magna in Austria, is the only Fisker model that has reached production, the company has shown three other electric cars that it began taking reservations for and ostensibly planned to sooner or later build. There's a pickup called Alaska, a city car named PEAR, and a four-door convertible known as the Ronin.