2012 has not been a good year for Fisker, and the bad news just keeps coming. With the bankruptcy of its main battery supplier, A123 Systems, production of the Fisker Karma plug-in hybrid has been halted. Not good.
Then again, this was fully expected. A123 Systems is the sole supplier of Fisker Karma batteries. Because Fisker emulates the last-minute supply chain of major automakers, they don’t have much of a stockpile of batteries. With no batteries, Fisker can’t rightly sell a $100,000 plug-in car missing half its drivetrain, now can they?
Fisker won’t know when production will start again until after the scheduled auction of A123 Systems, which has lined up buyers from both America and China. Fisker hopes to keep their favorable contract with A123 Systems in place, but at the moment that seems unlikely.
It’s been a bad year for Fisker, from Karmas catching fire to a highly publicized battery recalls to angry investor lawsuits. This is just the latest setback…and hopefully one of the last.
Source: Reuters
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