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Fisker Files For Bankruptcy, Assets Sold To Hybrid Technology

High Gear Media Network Feed

Electric car startup Fisker Automotive has finally filed for Chapter 11 bankruptcy, more than one year since it last built one its $103,000 Karma extended-range electric sedans. It means Fisker will fail to pay its remaining portion of a $192 million loan awarded to it back in 2010 under the government’s advanced-technology vehicle manufacturing program, as well as money owed to suppliers and other creditors.