Fisker now expects to go bankrupt within 30 days

Vlad, 24 April 2024

EV startup Fisker's recent woes have been thoroughly documented - back in March it was seeking bankruptcy advisors following talks with Nissan not converting into a partnership. Also in March, the company stopped production of its Ocean EV, and then abruptly cut its price so it could quickly get rid of existing inventory.

Today the company has announced in a regulatory filing with the SEC that it expects to file for bankruptcy within the next 30 days, unless a miracle happens and it gets relief from its creditors or somehow manages to raise some extra cash.

Fisker now expects to go bankrupt in 30 days

Neither of those options seems particularly likely considering the way things have been going for the EV maker, so it could end up being one of the casualties of the great EV race of the 2020s. Unfortunately for owners of the Fisker Ocean, it's unclear if they will even be able to service their $70,000 vehicles if the company goes under.

In any case, Fisker intends to further reduce its workforce and streamline its operations, including reducing its physical footprint.

In the same SEC filing, Fisker also says it missed an $8.4 million interest payment last month, which led it to default on a loan. In a separate filing earlier in the week, Fisker said it hired a Chief Restructuring Officer in the hopes of staving off bankruptcy. The next few weeks will be decisive.

Source | Via


Reader comments

  • Smartopinion

Only big egos are responsible for a capital intensive startup. Ordinary spreadsheet based Tom and Dick cannot start an EV company

  • Smartopinion

EVs evolving as software+hardware so car companies are stretched on both aesthetics side and ab engineering side. The current blowup of Fisker is on the software side. The big mouth engineer who unprofessionally blabbered his engineering problems is ...

  • Anonymous

It's a shame to see another EV 'startup' facing financial troubles. This just goes to show the risks of investing in a fledgling industry like electric vehicles.



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