Founder, Executive Chairman of Fisker Automotive Quits
Via CNBC
Henrik Fisker, the founder and Executive Chairman of Fisker Automotive, told CNBC he is leaving the company due to differences with the company's current leadership.
"There are a lot of issues and differences I have with this company and the management team right now," Fisker said. "This is the best move for me right now."
Fisker leaves at a tumultuous time for the electric car company that has struggled with slow sales and a lack of liquidity. The company's first model, the extended range electric Karma, has been criticized as being too heavy and too inefficient. Since the Karma went on sale in 2011, Fisker Automotive has sold fewer than 2,000 models. The Fisker Karma sells for more than $100,000.
Under Henrik Fisker's leadership, Fisker Automotive was granted a $529 Million loan from the Department of Energy in September of 2009. It was hailed by environmentalists as an example of the government working with the auto industry to help develop electric cars and revive America's auto industry. After all, Fisker planned to eventually build cars at a former General Motors assembly plant in Delaware. That never happened. Instead, Fisker built the Karma in Finland saying there were no assembly plants in the U.S. that could build the luxury electric car on a contract basis.
The decision ignited a firestorm of controversy as critics blasted Fisker and the Obama Administration for using federal money to fund auto manufacturing in Europe. For a while, the Fisker DOE loan became a central point of the U.S. race for President as Republican nominee Mitt Romney blasted President Obama for lending federal money to a company that was struggling and building cars in Finland.
In 2011, the DOE suspended the Fisker Automotive line of credit after loaning the company $190 million of the $529 million the company was authorized to receive.
Meanwhile, as Fisker tried to get its finances in order, its launch model seemed to constantly be in the news for having problems. In 2011, the EPA rated the high priced EV as delivering the equivalent of 52 MPG, and an all-electric range of just 32 miles.
The results were well below what Fisker had promised and what auto enthusiasts expected. Early last year, the $107,000 Karma model Consumer Reports bought and was test driving stalled during its initial drive and had to be towed to a service center. Pictures of the Karma being loaded onto a flatbed tow truck became an embarrassing symbol of Karma problems.
Finally, during Hurricane Sandy last year, Fisker lost 300 new Karma models that were damaged in the storm. An estimated $30 Million dollars in vehicles lost at a time when Fisker was struggling to get models into showrooms and into the hands of potential buyers.
More Industry

CPO Sales Could Take Off in the Right Conditions
A recent Cox Automotive consumer survey reveals the size of an undertapped market for the vehicle segment given affordability pressures.
Read More →
Global Consumer Trends Diverge
Price remains a top consideration for U.S. car buyers, and they are the most brand-loyal consumers to established automakers, according to a new survey.
Read More →
Badger State Dealership Gets New Owner
The longtime southern Wisconsin store moved from one area auto group to another, keeping the business in Dairyland.
Read More →
The Cycle of Negative Equity
Third-quarter data shows consumers still rolling over debt and stretching loan terms, raising their risk of remaining underwater.
Read More →
Charger Network Growth Slows
Despite a projected increase in public EV chargers in 2026, charging infrastructure remains a top concern for consumers as the gap between the most and least EV-friendly places remains substantial.
Read More →
Lenders, Consumers Take on More Auto Loan Risk
September records loosened credit access the most in over a decade as buyers took advantage of the conditions to afford trading, though loan applications fell.
Read More →
Next-Gen Hybrids in Sight
Dealerships can expect to see revamped hybrids from Honda next year as the company rolls out a new system and model lineup.
Read More →
Gem State Stores Change Hands
A larger auto group founded in the industry’s early years sold two franchises to a neighbor group that's on a growth spurt.
Read More →
Charging In Motion
Honda has been researching wireless in-motion charging for electric vehicles since 2025, and new technology developments have put it a step closer to a final product.
Read More →
Twin Cities Stores Sell
Minnesota-based Walser Automotive Group made what it called the most significant acquisition in its history with a three-rooftop deal in Minneapolis.
Read More →