2012 Karma Ecosport on 2040-cars

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Almost $1 billion in claims filed against bankrupt Fisker

You may have scoffed when the US Department of Energy sold the rights to its $168 million outstanding Fisker Automotive loan to Hybrid Tech Holdings last December for just $25 million, or about 15 cents on the dollar. It turns out that might be the going rate for anyone with claims against the bankrupt extended-range plug-in maker, though. That's because Fisker, which declared bankruptcy in November, has generated $985.4 million in claims from 618 not-so-happy parties, Delaware Online says, citing a bankruptcy filing from last week. Fisker stopped making its sporty but troubled Karma in mid-2012. Wanxiang America won an auction for Fisker's assets, including its Delaware factory, for $149.2 million. That leaves $836 million, or about 85 percent of the collective value of the claims against the company. Naturally, Hybrid Tech Holdings, which was beaten out by Wanxiang in the bidding for the assets, has jumped in line to see if it can make good on what was formerly that DOE loan. The state of Delaware, where Fisker had acquired an old General Motors factory, is seeking $20 million stemming from some incentives it provided up front. And Finland's Valmet Automotive wants $8.5 million for its work with the company. Former Fisker employees say the company is on the hook for another $6 million, and none other than General Motors itself is claiming it is owed the same amount. Then there is the lawsuit we first heard about in December that was filed against Fisker and some of its executives who were collecting hefty paychecks while no cars were being produced. Add it all up and you get almost a billion dollars. Good times.

Fisker commits to Extreme E electric off-road series

EV manufacturer Fisker has committed to Extreme E, the company confirmed Monday, and is in "advanced talks" to become a series partner and potentially field a factory team. The Extreme E series is the brain child of Formula E mastermind Alejandro Agag. It will feature purpose-built 4x4s EVs racing in remote, spectator-free venues with coverage provided by drones. The series will visit remote regions of Nepal and Saudi Arabia, among other locales, and teams will be transported from one leg to the next via ship. Extreme E is refitting a 7,716-ton former Royal Mail Ship, the RMS St. Helena, to serve as transportation and floating paddock. There will be five races in the 2021 season — if all goes to plan. The series' remote nature will make it less accessible to fans, but the choice of such locales was intended to highlight "[...] the impact of climate change and human interference in some of the worldÂ’s most remote locations and promotes the adoption of electric vehicles to help preserve the environment and protect the planet," the series announcement said.  "Alejandro brought electric vehicle racing into the mainstream with Formula E and I fully support his vision to reinvent off-road racing at the same time as creating an education platform for the threats posed by climate change. Extreme E and Fisker Inc. are completely aligned in our mission and values," said CEO Henrik Fisker. Extreme E will use a spec chassis. Dubbed the Odyssey 21, it will be built by French company Spark and powered by batteries designed by the Williams Formula One team. Spark says the Odyssey 21 can do 0-62 mph in 4.5 seconds and with a range of 200km in non-racing conditions. The top speed is around 200 kph (or approximately 120 mph). While the chassis and battery pack will be provided, manufacturer teams will be tasked with developing their own electric motor and inverter. They will also have leeway in designing certain body panels, allowing them to make the Odyssey 21 look more like their own production models.   

Taiwan's Foxconn discussing electric vehicle plant in Wisconsin

TAIPEI — Taiwan's Foxconn said on Friday it was in talks with the U.S. state of Wisconsin about building electric vehicles there, part of the major Apple Inc supplier's push to diversify income streams. Foxconn and electric car manufacturer Fisker Inc said in May that they had finalized a vehicle-assembly deal. They did not identify a location, but Fisker's CEO said Foxconn's Wisconsin site was a possibility. In a statement, Foxconn said it had begun discussions with Wisconsin. "Foxconn has engaged the Wisconsin Economic Development Corporation to discuss the company's plans for electric vehicle manufacturing. Foxconn is optimistic about our partnership with WEDC and looks forward to ongoing discussions," it added. The company, formally called Hon Hai Precision Industry, gave no further details. In April, Foxconn drastically scaled back a planned $10 billion factory in Wisconsin, confirming its retreat from a project that former U.S. President Donald Trump once called "the eighth wonder of the world" and was supposed to build cutting-edge flat-panel display screens. A month earlier, Foxconn's chairman said it may make EVs at the Wisconsin site, though could decide on Mexico, and would make a decision this year. Over the past year or so Foxconn has announced several deals on the production of EVs with automakers including Fisker, China's Byton and Zhejiang Geely Holding Group, and Stellantis NV's Fiat Chrysler unit. Foxconn aims to provide components or services to 10% of the world's EVs by 2025 to 2027, posing a threat to established automakers by allowing technology companies a shortcut to competing in the vehicle market. (Reporting by Ben Blanchard; Editing by David Goodman and David Evans) Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Plants/Manufacturing Fisker Electric Wisconsin Foxconn