Henrik Fisker, founder and executive chairman of hybrid vehicle maker Fisker Automotive, has resigned after ‘several major disagreements’ with the company’s management team.
It’s been a difficult year for the plug-in hybrid car maker, in which 258 Karmas were recalled (to realign hose clamps on the battery pack), plus the loss of 300 cars at Port Newark thanks to Superstorm Sandy.
Fisker Automotive: Press Statement
Fisker Automotive announced today the resignation of its Executive Chairman, Henrik Fisker. The Company recognizes and thanks Mr. Fisker for his service and many contributions as Fisker Automotive has progressed from start-up to a fully-fledged global automotive company.
Fisker Automotive is proud to have launched the world’s first extended-range luxury electric car, the award-winning Karma sedan. The Company has a strong and experienced management team and its strategy has not changed. Mr. Fisker’s departure is not expected to impact the Company’s pursuit of strategic partnerships and financing to support Fisker Automotive’s continued progress as a pioneer of low-emission hybrid electric powertrain technology.
Then lithium-ion battery manufacturer A123 systems declared bankruptcy last October, a move which left Fisker Automotive without a battery supplier.
The reason for Fisker’s resignation is stated as due to “..several major disagreements that Henrik Fisker has with the Fisker Automotive executive management on the business strategy,” which comes in the midst of discussions with several parties, including China’s Geely group, to acquire the struggling car maker.
Since its inception in 2007, Fisker Automotive has raised over $1.2 billion in private equity funding and borrowed $193 million under the Department of Energy Advanced Technology Vehicle Manufacturing (ATVM) loan program.
Fisker was seeking further capital to launch its second vehicle, the Atlantic, after a $529 million ATVM Loan was put on hold.