Fisker sells its assets to Hong Kong tycoon, files for bankruptcy

http://www.latimes.com/business/autos/la-fi-hy-fisker-sale-bankruptcy-20131122,0,4870491.story#axzz2lRZJIQLu

Jerry Hirsch

Fisker? That is no Mercedes-Benz, BMW, or Porsche... but Fisker not being a car industry mogul is presumably why they are filing bankruptcy. Fiskers are rarely spotted, but when they are, one would surely stop and stare. The Fisker Karma is arguably one of the most sleekest, stylish, and eye-popping automobiles out there and it is truly a shame the world rarely sees them. An investor group headed by Hong Kong tycoon Richard Li purchased the federal loan made to Fisker, therefore acquiring the assets to the already struggling company. With Li only paying around $8,000,000, the federal government will lose up to $139 million in the deal. Despite the loss taken from the federal government, Li's Hybrid Technology is willing to continue production of the hybrid automobile and continue to pursue the hybrid advances and attempt to rejuvenate the company as a whole. The designer of the Fisker Karma was Henrik Fisker, who has already worked on a sum of beautiful automobiles - the Aston Martin DB9 and V-8 Vantage, along with the BMW Z8. Fisker Automotive started off as a prodigious and promising company, ready to revitalize the world of automobiles with their unique combination of hybrid technologies, speed, flare, and pure beauty. It is truly disheartening to witness the economical death of such an auspicious and felicitous company.