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Former Fisker CEO has some advice for Tesla Motors

Former Fisker Automotive CEO and ex-Chevrolet Volt vehicle-line director Tony Posawatz has some words of caution for Tesla Motors. The long-time automaker executive questions the California automaker's long-term viability – and gives some praise – in a talk with Benzinga, which you can listen to below. While the all-wheel-drive D that Tesla unveiled earlier this month in Southern California wowed a packed crowd, Posawatz (starting at around minute 4:45 in the interview) says Tesla would've been better off taking the resources it expended toward that Model S upgrade and directed them towards speeding up the development of a more affordable plug-in. Perhaps a number of investors agreed, since the company's stock fell the day after the D was announced. Posawatz says Tesla has been over-reliant on the sale of ZEV credits. Posawatz also says that Tesla has been over-reliant on the sale of zero-emissions vehicle credits in California for its earnings and questions whether the automaker will ever work at a large enough scale to sufficiently drive down costs and make consistent profits. Tesla CEO Elon Musk would take issue with this characterization. Posawatz first made his mark in the plug-in vehicle world when he was the vehicle-line director at General Motors for the Volt extended-range plug-in from 2006 to 2012. Later that year, he joined extended-range plug-in maker Fisker Automotive as its CEO, though quit that job during the summer of 2013 as the company was descending into insolvency. He joined the Electrification Coalition this past March. News Source: Benzinga Green Chevrolet Fisker Tesla Electric PHEV Tony Posawatz

Henrik Fisker designs a chopper for Lauge Jensen [UPDATE]

UPDATE: An earlier version of this post incorrectly credited Henrik Fisker with designing the Tesla Model S. While Fisker was contracted for design work early in the development of the Model S, Tesla ultimately rejected his design in favor of Franz von Holzhausen's. Mention of the Tesla Model S has been removed from the list of Fisker's designs below. Henrik Fisker has designed some seriously beautiful vehicles over the course of his career thus far. You'd naturally associate his name with the Karma hybrid that shares it, or maybe the reskinned Mercedes SL and BMW 6 Series he crafted as a coachbuilder, but he was also responsible for such beautiful shapes as the BMW Z8, Aston Martin DB9 and V8 Vantage, and Artega GT. And now he's turned his attention to a motorcycle. Called the Viking concept, the Fisker-designed chopper is the product of a collaboration with Lauge Jensen, a Danish custom bike shop owned by Lego scion Anders Kirk Johansen. The 660-pound Viking packs an air-cooled 45-degree V-twin engine (built, incidentally in Wisconsin, we wonder by whom) churning out 100 horsepower with a six-speed transmission to propel it to a 130-mile-per-hour top speed and meeting Euro IV emissions regulations. It's packaged into a rather sleek take on the classic hog, the curve of the fuel tank melding into the seat and the rear fender. The Viking is set to be unveiled this week at the Top Marques show in Monaco where Lauge Jensen will watching to see how it's received. Given a positive reception, it could soon join the Great Dane in the company's lineup. Considering that bike already sells for ˆ42,800 (about $60k), and that the Viking would likely command an even bigger premium, that would make for one very expensive chopper. Still, it might be one of the least expensive ways to get your hands on a Henrik Fisker original. Featured Gallery Lauge Jensen Viking Concept by Henrik Fisker View 10 Photos News Source: Lauge Jensen Misc. Auto Shows Fisker Motorcycle Concept Cars Henrik Fisker

Auto startups chasing Tesla race past red flags to go public

Missed out on the Tesla rally but still want to surf the electric vehicle wave? A stream of EV-related startups backed by blank-check firms is lining up to go public so there are plenty of choices. But like Tesla in the early days, few have products ready to sell or any likelihood of generating significant revenue anytime soon. Instead, investors will be relying on rosy production, sales and revenue forecasts for new cars, trucks and batteries, all set to be jostling for a slice of markets that will be far more crowded than when Tesla's cars first hit the road. Take Fisker Inc, for example. It was launched in 2016, just three years after the bankruptcy of its predecessor and early Tesla rival Fisker Automobile. In July, Fisker Inc announced a $2.9 billion reverse merger deal with Spartan Energy Acquisition Corp, a Special Purpose Acquisition Company (SPAC), and is planning to go public later this year. It has no revenue and its Fisker Ocean electric sports-utility vehicle (SUV) is at least two years away from production in a project heavily dependent on nailing down deals with partners who will build the car and provide key components. That's not particularly unique for young companies in the sector looking to use SPACs to go public and bypass the scrutiny of a traditional IPO process, according to company presentations and interviews with executives and investors. That also didn't seem to be an issue earlier this year when U.S. electric truck maker Nikola Motors used a SPAC to go public. Shares in the company that hopes to generate revenue next year almost trebled after listing on the Nasdaq exchange. But they slumped when a short-seller questioned whether founder Trevor Milton had made false claims about Nikola's technology, forcing the 38-year-old entrepreneur to step down as executive chairman — and making some investors more cautious. Nikola and Milton have publicly rejected the accusations and have threatened to take legal action against the short-seller, Hindenberg Research. "Good storytelling is an important component of being a good founder and entrepreneur — but it better not be the only component," says Evangelos Simoudis, managing partner and founder of startup investor Synapse Partners. 'IT'S A FORECAST' Fisker Inc's founder Henrik Fisker is well known in the industry for designing sports cars such as Aston Martin's Vantage, and for his failed EV firm Fisker Automobile that went bust in 2013 after burning through more than $1 billion.