Fisker Automotive’s fall from grace has been well documented over the last couple of years, but now a report has surfaced showing just how much money the American electric automaker lost.
Despite raising $1.4 billion in private and public funds since it was founded in 2007, Fisker Automotive is on its last breath. It hasn’t built a vehicle in the last year, and the American automaker has never turned a profit. Over the span of four years from 2008-2012, it’s estimated that Fisker lost $1 billion. In fact, Reuters is reporting that Fisker lost at least $35,000 for each Karma sold.
SEE ALSO: Fisker Karma Resale Values Plummet
What’s being unveiled now however is how extravagant Fisker’s spending policies were. Despite laying off hundreds of employees in late 2011 and early 2012, Henrik Fisker and co-founder Barny Koehler were still taking home generous salaries of $600,000 to $700,000 a year.
As of recently, things are looking bleak for Fisker to recover. The Karma’s resale value has already plummeted in the midst of all the unknown variables with the automaker. Meanwhile, its main competitor, Tesla, has enjoyed a successful run at the EV market and continues to grow each passing day. As for what the future holds for Fisker, that’s the biggest question right now for investors.
[Source: Reuters]
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