Energy Dept.-backed green automaker could go bankrupt

Troubled car maker Fisker Automotive, the plug-in hybrid manufacturer that has drawn $192 million in Energy Department loans, could be on the verge of bankruptcy.

The Los Angeles Times reports:

Unless its celebrity customers such as teen idol Justin Bieber and actor Leonardo DiCaprio want to put a lot of their own cash into the business, it looks like hybrid sports car company Fisker Automotive is nearing the end of the road.

Fisker has hired Kirkland & Ellis, a major bankruptcy law firm, to review the company’s options while it continues to seek investment partners.

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