Monday, August 20, 2012

Fisker Automotive: Cooling Fan To Blame In Fire, Recall Announced

Anaheim-based Fisker Automotive said over the weekend that it has completed a detailed investigation into the self-ignition of a Fisker Karma sedan in Woodside, California last week, saying that the fire was due to a low temperature cooling fan, which overheated and started a slow burning fire. As part of the announcement, Fisker said it has voluntarily elected to conduct a recall with respect to the cooling fan unit. Fisker said the move is not expected to have a material financial impact on the firm. The widely publicized fire was the latest black eye for the startup electric auto firm, which has struggled through a number of recalls as it has been looking to ramp shipments of its first automobile. Fisker--which has raised more than $400M in funding so far--had an earlier, major recall of its battery systems, which nearly put supplier A123 out of business.

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