Fisker Employees Put on Unpaid Leave
And China’s interest in owning Fisker has slowed, too. GigaOM:
Electric car startup Fisker Automotive has put its U.S. workers on furlough, or temporary unpaid leave, this week according to Reuters. The news follows reports last week in the Wall Street Journal that the Chinese auto tech companies that were bidding on an investment or acquisition of Fisker have now stalled.
There’s conflicting reports about why talks with the Chinese auto companies have grown cold. The WSJ says it’s because Fisker wants to try to get the remaining amount of the loan from the Department of Energy that was frozen, and restarting such a loan would mean Fisker’s next car would have to be built in the U.S. The Chinese companies would probably want to build the car in China where it would be lower cost. PluginCars says that the Chinese giants are less interested after looking under the hood of Fisker and realizing the company doesn’t own a lot of the technology in its vehicles.
Why would China invest in Fisker now anyway when Fisker’s value drops every day? They can just wait and buy the pieces they want at a later date.