The startup that added a petrol generator to Tesla cars is bankrupt
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Austrian engineering firm Obrist filed for bankruptcy in late September after failing to commercialise its petrol-powered generator for Tesla cars.
- ✓The company spent over a decade developing its HyperHybrid technology.
- ✓Three subsidiaries became insolvent with combined liabilities of €31.8 million, as the business could not reach large-scale commercial production goals.
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- BUSINESS
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- CNBC TV18
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- 2 Minute(s)
- Market Focus
- India Economy
An Austrian engineering company that drew global attention for fitting Tesla electric cars with a small petrol-powered generator to extend driving range has filed for bankruptcy, marking a setback for one of the more unconventional approaches to vehicle electrification.
According to a report by Inc.com, Austria-based Obrist has seen three of its operating subsidiaries become insolvent after spending more than a decade trying to commercialise its proprietary HyperHybrid technology.
The insolvency affects Obrist Powertrain GmbH, Obrist Technologies GmbH, and the group's German sales subsidiary, with combined liabilities of around €31.8 million (about $37 million). The debt figure, however, does not represent the entire Obrist group, as the parent company continues to exist and remains active, Inc.com reported, citing electric vehicle publication Electrek.
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