Reported 8 months ago
Fisker Inc., an electric vehicle startup, has filed for bankruptcy after ceasing production of its malfunctioning Ocean SUV. The company listed $500 million to $1 billion in assets and $100 million to $500 million in liabilities in its petition filed in Delaware. Fisker, founded by famed car designer Henrik Fisker, went public in 2020 and faced challenges with software bugs in its SUV production. Despite receiving substantial funding, including $150 million, the company's struggles led to its bankruptcy amidst a challenging EV market. Fisker's bankruptcy is part of a trend among EV startups facing financial difficulties.
Source: YAHOO