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3 lessons Fisker can learn from Tesla |

When environmentally-friendly car company Fisker debuted, it looked destined to flourish.

The Fisker Karma, the company’s first car model, accelerated from 0 to 60 miles-per-hour in under six seconds, provided the electric equivalent of around 90 miles per gallon, and — unlike other electric-powered cars at the time — the Karma didn’t need to be constantly recharged.

But the Karma flopped. Automotive review company Consumer Reports couldn’t provide a proper review of the car, since its Karma broke down before completing the reviewer’s check-in process. Customers even sued Fisker because of low-production quality.

Fisker, which hasn’t built a car in more than a year, doesn’t have enough money to pay back their loans to its investors and the U.S. Department of Energy. The company was often used as a poster child for poor government investment, due to its reliance on government stimulus funding, and is now on the auction block for its remaining assets. Valued at $2.2 billion in 2008, Fisker is accepting minimum bids for a paltry $30 million.

But, investors have already stated interest in the company. What should Fisker do differently this time around? Perhaps it can take a lesson from fellow electric-car company Tesla, which announced its first quarterly profit last May.

1. Start small

Whether it was due to increased government funding, or too-high expectations, Fisker’s first car was plauged with problems and wasn’t ready for mass-manufacturing.



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