From Inc · · 1m 20s
Obrist Bankrupt After Tesla Gas Generator Failure
Austrian engineering firm Obrist filed for bankruptcy after its gas-powered Tesla range-extender failed to reach production.
In brief
Austrian engineering firm Obrist filed for bankruptcy after its gas-powered Tesla range-extender failed to reach production. Obrist's three subsidiaries owe $37 million in debt following the failure of their HyperHybrid gas-powered Tesla range-extender technology. Originally reported by Inc.
Obrist Bankrupt
Obrist, an Austrian engineering firm best known for modifying Tesla vehicles with gas-powered range extenders, has filed for bankruptcy after spending more than a decade trying to bring its HyperHybrid technology to market.
Debts Total $37 Million
Obrist's two Austrian subsidiaries and German sales arm are insolvent with combined debts of roughly €31.8 million, or about $37 million, according to Electrek.
Obrist Powertrain Bankrupt
Obrist Powertrain GmbH, responsible for the HyperHybrid system, owes roughly €18.85 million ($21.9 million) to 34 creditors and had been reduced to nine employees by bankruptcy.
Obrist Technologies Bankrupt
Obrist Technologies GmbH, which held patents for methanol production and carbon-capture technology, owes about €6.08 million ($7.1 million) to 10 creditors and has no remaining employees.
German Sales Arm Bankrupt
Obrist DE, the German sales arm based in Lindau, is insolvent with liabilities of approximately €6.8 million ($7.9 million).
Bankruptcy Reason
The companies told the court neither restructuring nor continued operations was feasible and agreed to shut down immediately.
Here's the gist
Obrist's three subsidiaries owe $37 million in debt following the failure of their HyperHybrid gas-powered Tesla range-extender technology.
