Fisker, the embattled California electric-vehicle startup, is asking a bankruptcy judge for permission to sell its remaining electric cars for about $14,000, about 80% off the original price of its flagship model.
The Ocean SUV first went on sale in summer 2023 for between $39,000 and $70,000 depending on model and specification. The company cut prices in March to raise much-needed cash. One of the top-of-the-line models, the Ocean Extreme, was reduced in price from $61,500 to $37,500. Fisker warned investors at the time that it might run out of cash.The company began laying off hundreds of employees and stopped making new cars.
Fisker filed for bankruptcy in June. The company is asking the Delaware Bankruptcy Court to sell its remaining 3,321 EVs. To American Lease, a car leasing company The price was just over $46 million (average of about $14,000 per unit).
Many EV companies Prosperity in trouble In an increasingly competitive market Especially as EV sales growth slows — Many of Fisker’s problems came from within. The company’s Ocean SUV Over 100 complaints have been filed U.S. regulators are now allowing owners to avoid sudden power loss or The front hood of the car flies up when driving at high speed.
By the numbers
$2.9 billion: Fisker Value At the time of listing in 2021.
98.7%: How much did Fisker’s stock price fall from its IPO to March? When it was delisted from the New York Stock Exchange.
$1 billion: How much does Fisker owe to unsecured creditors?According to TechCrunch.
1,300: Number of vehicles delivered by Fisker According to Reuters, that will be in 2024.
