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Sunday, October 20, 2013

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Fisker Biography

Source(google.com.pk)

Fisker Automotive, Inc. is an American automaker based in Anaheim, California. The company's first product is the Fisker Karma, one of the world's first production plug-in hybrid electric vehicles. It debuted at the 2008 North American International Auto Show, creating the premium green car segment in which most major manufacturers have since announced they would compete. Production was suspended in November 2012 due to financial difficulties,with about 2,450 Karmas built since 2011.

Fisker originally intended to sell the Karma in late 2009, but after repeated delays, the Environmental Protection Agency certified the car’s vehicle emissions and drive range in October 2011, and thereafter Fisker commenced delivery of production vehicles in the USA.

Fisker stopped production in the summer of 2012, and was seeking new investment. Matters were further complicated by the bankruptcy of its battery supplier A123 Systems, the costs involved regarding a recall and repairs to customer cars, as well as the resignation of the company's co-founder and CEO, Henrik Fisker. In addition to production stopping for over five months, with no date announced to recommence, the planned production of the second model, the Fisker Atlantic, was postponed, together with the cessation of development of the new model.

In late March 2013, Fisker hired a law firm to prepare for a possible bankruptcy filing. On April 5, 2013, Fisker laid off 75% of its workforce with no notification, retaining only a core group of 40 workers as it continues to negotiate with prospective investors.

Henrik Fisker co-founded the company in 2007 with business partner Bernhard Koehler (Fisker Coachbuild) and Quantum Technologies after securing a relatively small investment from Gianfranco Pizzuto, an Italian businessman, and Palo Alto Investors. Henrik Fisker is responsible for designing many premium cars such as the Aston Martin DB9 and V8 Vantage, Artega GT and BMW Z8. He also served as design director and sat on the board at Aston Martin.

Prior to Fisker Automotive, Henrik Fisker and Koehler left Aston Martin in 2005 to establish Fisker Coachbuild, in an attempt to revive the art of coach building automobiles to customer specifications. The Fisker Tramanto and Latigo utilized chassis and power trains from Mercedes-Benz SL and BMW 6-Series automobiles. Several were purchased but the business soon gave way to Fisker Automotive, a true automobile manufacturer.

In February 2012, Tom LaSorda was named the new CEO and Henrik Fisker became Executive Chairman but only six months later on August 14, La Sorda was replaced by Tony Posawatz, previously General Motors Vehicle Line Director for the Chevrolet Volt.

Henrik Fisker, who co-founded the company named after him, resigned in March 2013, after "disagreements with management," in particular "disagreements over business strategy. The New York Times reported that Fisker's resignation came during takeover negotiations with the Zhejiang Geely Holding Group, which currently owns Volvo Cars. In late March, Fisker hired a law firm to prepare for a possible bankruptcy.