Jump to content
Create New...
  • 💬 Join the Conversation

    CnG Logo SQ 2023 RedBlue FavIcon300w.png
    Since 2001, Cheers & Gears has been the go-to hub for automotive enthusiasts. Join today to access our vibrant forums, upload your vehicle to the Garage, and connect with fellow gearheads around the world.

     

  • William Maley
    William Maley

    Rumorpile: Fisker To File Chapter 11 Bankruptcy This Week?

    By William Maley

    Staff Writer - CheersandGears.com

    April 10, 2013

    It seems the end is close for Fisker. Reuters is reporting that Fisker could be filling for Chapter 11 bankruptcy this week due to pressure of the U.S. Department of Energy who want the company to pay back nearly $200 million in government loans.

    A source tells Reuters that Fisker's lawyers have drawn up the documents needed to file for bankruptcy, and are ready to go within the next few days.

    Fisker and the Department of Energy's relationship has been strained over the past few months due to missing milestones for the loans, not building any vehicles since last summer, and number of other problems. The company has been has been trying to renegotiate terms of a payment due on April 20th with the Department of Energy. However, the Department of Energy said enough was enough and is pushing Fisker in bankruptcy.

    Source: Reuters

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

    User Feedback

    Recommended Comments

    The whole unfolding of Fiskers makes one think they deliberately did not believe they would have to pay back the EPA. The fact the have not built anything for 9 months or so would tend to also imply they were happy to use tax dollars to do nothing.

    Good riddance, I hope the EPA takes everything and then sells it to an American company that can actually build something.

    Link to comment
    Share on other sites

    The Govt's track record WRT 'green' companies investment is DISMAL; more like criminal negligence. You can't force the market and lawmakers are clueless.

    If Fisker goes belly up it's a shame, but a fresh $100K car is never NOT going to have an uphill battle, no matter what's underhood or how slinky it looks.

    Link to comment
    Share on other sites

    Thinking on this EPA should just take the technology and share it with GM and Ford. That way the american auto companies can use it to benefit America and jobs.

    For those that say what about the other investors? Well the EPA can sell the rights to use the technology to them, be it China, Japan, Korea, Euro, etc. That way those funds can go back to the independant investors and if there is anything left over it can go back to the original investors/owners.

    Link to comment
    Share on other sites

    Found a great editorial on why we do not need Fisker.

    http://www.technologyreview.com/view/514171/why-we-dont-need-fisker/?goback=%2Egde_1452137_member_236057702

    Here is another great write up on why Tesla survived and Fisker will not.

    http://www.technologyreview.com/news/513151/why-tesla-survived-and-fisker-wont/

    I have to say that these are spot on in regards to these auto's.

    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Support Real Automotive Journalism

    Cheers and Gears Logo

    Since 2001, Cheers & Gears has delivered real content and honest opinions — not emotionless AI output or manufacturer-filtered fluff.

    If you value independent voices and authentic reviews, consider subscribing. Plans start at just $2.25/month, and paid members enjoy an ad-light experience.*

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Similar Content

  • Posts

    • OUCH, a very solid assessment of Tesla imho. 'He's Alienated The Wrong People' — Scott Galloway Blames Musk's Politics For Tesla's Fall From 8th To 95th In U.S. Brand Rankings
    • This isn't new.  I can't make a decision on buying a car, since I haven't made the even bigger decision to precede when and WHERE to buy a car. I've got a lot of points from my GM Card.  Never would I have thought the market would change so drastically after I last used its accumulation and would start accumulating again. So, if I were to buy a tide over used car to keep for a few years, then what?  All low mileage ... the last Buick Verano 2.4 L the last Chevy Impala 2.5 L the 2015 Malibu with Camaro rear lights 2.5 L the last Mercury Milan 4 cyl. the last Charger base 3.5 V6 Something else Low mileage "older" cars cost a bundle, IF it's a dealer that's selling them.
    • Been 1 year since I installed my home Level 2 charger and have to say, I have had zero problems with it. No issues from ChargePoint and still going strong. Total cost of home charging for the year to cover roughly 19,000 miles has been $ 757.00 based on the tracking that the ChargePoint app on my cell phone does.
    • Much appreciated, thank you. That is crazy and sad that GM, Toyota, Nissan in this day and age have allowed sloppy manufacturing to happen. Demming and Drucker were right about needing to keep a close eye always on quality for long term success. I do not blame your friend and hope GM does right by him and all the others. I think a 10yr / 100,000 mile powertrain warranty is proper here.
    • One of my best friends bought a 2024 Silverado Trail Boss with the 6.2 and he's not too stoked about it. He hasn't' had any issues thus far, but he's very skeptical about long-term ownership. He said there's a rumor that they'll extend the warranty to 10yr/100,000 and he'd be satisfied with that, but if they don't he certainly wouldn't want to own it past his OEM warranty. I don't blame him, either. It sucks because he said he planned to keep the truck for 10 years as it's kind of a do-all for his family and him. He doesn't want to have to trade it in after 5 years because he has a good chance of needing to replace the engine. GM needs to do right by all these owners.  https://www.caranddriver.com/news/a64611938/chevy-silverado-tahoe-cadillac-escalade-defective-v8-recall/ "General Motors is recalling 721K full-size trucks and SUVs with the 6.2-liter V-8, as the engine might be defective; a stop-sale has also been ordered. The recall list includes popular models such as the Cadillac Escalade, Chevy Silverado 1500, and GMC Yukon—all of which are 2021–2024 models. The problem stems from internal manufacturing defects, and vehicles must pass inspection or possibly require an engine replacement. "
  • Who's Online (See full list)

    • There are no registered users currently online
  • My Clubs

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search