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A look under the hood: why electric car startup Fisker crashed and burned | GigaOM Clean Tech News

A look under the hood: why electric car startup Fisker crashed and burned | GigaOM Clean Tech News | Car Accident Attorneys | Scoop.it

 

It was a shining moment for Fisker Automotive. In the summer of 2011, four years after the upstart electric car company opened its doors, its first cars were finally rolling off the factory line in Finland, and the sleek vehicles were landing in the garages of some of the biggest names in Hollywood, politics and Silicon Valley. Actor and Fisker investor Leonardo DiCaprio received one. Al Gore and Colin Powell were next in line.

 

A couple months after that, boy megastar Justin Bieber got one for his 18th birthday as a present from his manager. The car even had its television debut driven by Ashton Kutcher, playing an internet mogul, on Two and a Half Men.

 

That summer gas prices were predicted to rise about 40 percent, leading to a boost in sales of fuel-efficient cars. A year earlier, electric-car company Tesla held a blockbuster IPO, and Nissan’s low-cost electric car the LEAF had gone on sale. The country seemed like it might finally be ready for electric cars, and perhaps ready for the first car enthusiast’s plug-in hybrid, as the Fisker Karma was being called.

 

But the limelight was short-lived for Fisker. In the months and years that followed, the company spiraled downward, burning its dreams and reputation to the ground — just like faulty parts did to a couple of its cars. Fisker has been reported to be on the brink of bankruptcy, lawsuits are piling up, and a government hearing is reportedly in the works.

 

There are a lot of crash-and-burn stories in Silicon Valley. It’s in the nature of entrepreneurs, startups and investors to take risks and sometimes fail. But it’s not often that you see such a dramatic downfall.

 

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New Mexico Accident Attorneys

Were you involved in a side swipe or rollover accident, or a multiple vehicle accident because of a negligent driver? Regardless of the reason, you may now find yourself needing a trusted law firm to take your case. We can help you navigate through the legal process for filing your claim. No matter the details of you accident, we want to ensure that you do not incur more bills then necessary to receive proper medical treatment.


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