Valmet Dismantles Fisker Karma Production Lines – Is This the End?

Maybe Henrik Fisker was tempting fate when he decided to name his

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by Andreas Tsaousis

December 30, 2014 at 00:06

Maybe Henrik Fisker was tempting fate when he decided to name his extended-range hybrid the Karma. On the other hand, maybe he should have made sure there was sufficient cash flow instead of relying, among other things, on a DoE loan that was rescinded.

Anyhow, Fisker is now out of the company, which has been acquired by Wanxiang. The Chinese auto parts maker wants to revive the brand, after ironing out all the issues that plagued the project from the beginning.

According to a YLE report, though, Valmet Automotive, the Finnish company that has produced all cars so far, has started to dismantle the Karma production lines at its Uusikaupunki plant. Said production lines have been idle since July 2012, when Fisker tried (and failed) to secure investments, but were ready to resume assembly if needed.

We don’t know if Wanxiang, whose Chairman Lu Guanqiu visited the US last summer, met with Vice President Joe Biden, is still committed to “burn as much cash as it takes to succeed” or changed his mind and this is the end of the Karma. Either way we’ll be tracking the situation, so watch this space.