Weekly Recap: The divergent paths of Tesla and Fisker

08/02/2014   [Original: Autoblog]
Category: Tech, Audi, BMW, Chevrolet, Jaguar, Mercedes Benz, Fisker, Tesla, Electric

Fisker Automotive

There's no doubt that Tesla is downshifting while Fisker has been grinding its gears. But it wasn't always that way.

In the wake of Tesla's recent success, it's easy to forget that there were once two California electric carmakers with bright futures.

Remember Fisker Automotive?

Both companies were back in the news this week. Tesla confirmed it will team with Panasonic to build a battery factory, and Fisker won approval of its bankruptcy plan to pay creditors and allow it to have a fresh start with Chinese investors, Wanxiang Group.

There's no doubt that Tesla is downshifting while Fisker has been grinding its gears. But it wasn't always that way.

Five years ago, many observers thought Fisker had just as much potential to make a go of it as Tesla. Elon Musk was still known as the SpaceX and PayPal guy who supposedly knew nothing about cars. Fisker, meanwhile, was founded and led by Henrik Fisker, an industry celebrity who designed sexy sports cars like the Aston Martin DB9 and the BMW Z8.

Separated by about six hours of California highway, Tesla and Fisker were billed as the new wave of American manufacturing, two electric carmakers that could do what the Rust Belt-anchored Detroit Three could not. Their rivalry became so heated, Tesla even sued Fisker in 2008 alleging theft of technology, with Fisker emerging as the nominal victor, netting $1.1 million in court fees from Tesla.

As recently as 2012, Tesla only had one car, the Roadster, which was built on a Lotus chassis with an electric-powered motor in place of a traditional engine. It was the definition of a niche product. That year, however, Tesla followed up with another car, the Model S. With an all-electric range of 265 miles and the capability to sprint to 60 mph in 4.2 seconds, the Model S was a runaway hit. It had the size and power of a BMW 5-Series, and it didn't burn a drop of fuel.

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