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USA: Fisker On Death’s Door? Big Recall, Exec Shuffling, Money Woes For Electric Carmaker

Fisker Automotive Inc. is in a bad place right now, running out of money, recalling its hybrid-electric Karma luxury cars because they burst into flames and shuffling around executives faster than a losing team substitutes pitchers; it’s hard to find a bright patch for the privately held company that isn’t on fire.

The latest blow to the company came when it announced Saturday that it was voluntarily recalling all of its roughly 1,000 Karma hybrid-electric vehicles following an investigation into a car fire in Woodside, Calif. The Woodside incident, coming on the heels of another Fisker Karma fire in Texas in May, hasn’t done much for the public image of once-lauded electric carmaker.

Fisker has been trying to put a good face on its recent troubles.

“This incident resulted from a single, faulty component, not our unique Ever powertrain or the engineering of the Karma. As this situation demonstrates, Fisker Automotive is dedicated to doing whatever is necessary to address safety and quality concerns,” Anaheim, Calif.-based Fisker executive chairman and co-founder Henrik Fisker said.

However, while the company has tried to play up the fact that the problem is not related to any powertrain, exhaust or battery components of the Karma, but rather an internal fault in the low temperature cooling fan, it does not dispel the fact that Fisker’s only production car catches on fire on a semi-regular basis, and at over $100,000, it is an expensive fire risk for most consumers.



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