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Department of Energy seizes $21 million reserve account from Fisker
Fisker just can't catch a break. As if enduring the layoffs of three out of every four employees and the resignation of its founder wasn't unsettling enough, it's now come to light that the Department of Energy recently confiscated the company's $21 million reserve account in an attempt to recoup some of the government's loan. Fisker's first payment on the $192 million federal loan was due Monday, but the Energy Department revealed that it actually took the money 12 days beforehand, simply due to the company's high risk of default -- a move it characterized as an "appropriate action on behalf of taxpayers." If you're thinking the writing's now on the wall, you're correct... the WSJ reports that Fisker has hired a bankruptcy attorney, and the company admits that it's actively in search of a new owner. Will luck swing in Fisker's favor next time around? Place your bets.
Fisker announces steep layoffs, cuts company down to 25 percent of its workforce
Fisker Automotive has been seeing its troubles go from bad to worse, and its now announced its most drastic steps yet to keep the company afloat. In a statement released this afternoon, the company confirmed that it is making a "significant reduction" in its workforce, which it says will ultimately leave it with approximately 25 percent of its employees -- Bloomberg pegs the number of layoffs at about 160 based on its sources, down from the 200 it employed as of last week. Fisker's statement also notes that the company is continuing its efforts to secure a strategic alliance or partnership, but says it had reached the point where layoffs became unavoidable. As Bloomberg mentions in its report, Fisker has to date only sold 2,500 of its electric vehicles, which have been beset by delays and recalls in recent years.
Tiny EGO pseudo-submarine for the super rich is aptly named
Imagine you are so rich you want your own underwater pleasure vehicle, and you don't mind dropping what is likely to be a boatload of cash get it, today may be your lucky, lucky day. A company called Raonhaje has developed the EGO mini-submarine which floats atop the water, but which boasts a submersible capsule for passengers to check out what's going on beneath the surface. Sounds intriguing, right? Sure does! The relatively eco-friendly EV vehicle cruises at just less than five knots for four hours on a full charge. There are no details on price yet, but we expect it will be quite a lot. Video of the rendered model is after the break.
Nissan shows off latest electric car prototype with battery monitoring system, iPhone app
Nissan's started showing off its latest prototype electric car, based on the Versa. This one will house a 108 horsepower / 206 pound-feet electric motor to drive the front wheels, and a 24 kWh, lithium ion battery pack will be fitted under the floor for storing electricity, with an expected range of 100 miles. To top things of nerd-style, the newest prototype will have a navigation system which will show the current life of the battery, and the mile range its current amount of juice will support, and will boast the ability to download info about nearby charging station locations. And need we say, "there's an app for that?" That's right, Nissan also has a working prototype of an iPhone app making the rounds in Japan which would allow users to communicate with their car remotely and find out the state of the battery's charge. Can this get any cooler?Read - Nissan shows off new Versa-based electric vehicle protoypeRead - Nissan dials iPhone for car remote control
GE invests in electric vehicle-maker Think, battery-maker A123Systems
It looks like electric vehicle-maker Think and battery manufacturer A123Systems have each gotten a pretty big shot in the arm courtesy of GE, which has announced that it's investing in both companies with the goal of making "electric transportation practical and affordable." For Think's part, it'll be receiving some $4 million from GE, which'll apparently be used at least in part to get its TH!NK Ox electric five-seater (pictured above) out the door (t's already in production in Norway). A123Systems, on the other hand, has signed a commercial supply agreement with Think to supply it with Nanophosphate lithium-ion batteries, and it's already received a hefty $20 million from GE (which it's now doing some joint research with). That's all apparently only part of GE's grander plans, which it describes as nothing short of "efforts to enable global electrification of transportation." Be sure to hit up the appropriate link below for a video of some of what Think has in store.Read- GE Press ReleaseRead - DN.no, Think video[Via Autoblog Green, thanks Gunnar]
New Tesla CEO takes it upon himself to explain Roadster delays
We've already had a pretty good idea of the reasons for delays with Tesla Motors' all-electric Roadster vehicle, but it looks like the company's new CEO, Ze'ev Drori, is now trying to set the record straight himself, with him recently posting a fairly lengthy letter addressing the matter on the company's blog. That letter is apparently the very same one that was sent to buyers of the car earlier this month and, as you might have guessed if you've been following this thing as closely as we have, it pegs most of the blame on the car's transmission troubles. As we previously reported, that has forced Tesla to ship the roadster with a temporary transmission, which is apparently slower than the final version, but assuredly safe. Drori also confirms that the company will begin full production of the vehicle in the spring of 2008, and that while they plan to ramp up production throughout the year, he admits that some of the initial run of cars won't be in the hands of customers until early 2009. Among other things, he also attempted to clarify some of the confusion over those initial EPA range targets,saying that the lab that conducted the tests "made a small error in the testing procedure," resulting in an overstated range figure. According to Drori, the revised figures now stand at 221 miles per charge, although he says the real world figures are actually as high as 267 miles per charge in "slow city driving," or 165 miles in aggressive highway driving. Those looking for more details can get the full explanation from the man himself by hitting up the read link below.[Via CNET News.com]
Tesla scales range targets back up
It looks like the folks at Tesla are getting a little more confident in their all-electric and all-sold-out Roadster, as The New York Times is now reporting that the company has bumped its range targets back up to around 245 miles per charge. As you might recall, this follows a scaling back of range targets to just 200 miles per charge back in April, when the company's original estimates fell by the wayside when the car hit the dynamometer. One thing that's apparently not being pushed up, however, is the car's release date, with The New York Times also reporting that the initial run of 600 cars will now only "begin production late this year," making that promised roll out by the end of the year a bit of a tight proposition.[Via AutoblogGreen]
