By Rob Janicki
We've written about Fisker Automotive Inc. electric vehicles in the past. Here we are again with even more bad news. So bad that this could be (and most likely is) the obituary for the electric car maker. Today's news reveals that Fisker has missed its first payment on Monday on about $193 million dollars on its federal government loan of $529 million dollars. It should be reiterated that Henrik Fisker, the company's founder and CEO has since left the company bearing his family name. Fisker also recently cut 75% of its management workforce and hasn't produced a car since the summer of 2012.
Fisker has hired a consulting firm, which specializes in bankruptcy liquidations. One analyst described Fisker Automotive as a company with a bad business model and poor execution compounded with bad luck. The same analyst praised Tesla's business model and their execution of their business model, while admitting that Tesla was also somewhat lucky.
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