Reported 8 months ago
On June 17, 2024, American electric vehicle startup Fisker filed for bankruptcy after failed negotiations with a major car manufacturer for investment, leaving the company in a cash-strapped situation. Fisker's assets are reported to be between $500 million and $1 billion, with debts ranging from $100 million to $500 million. The bankruptcy filing allows Fisker to be protected from creditors until a repayment plan is proposed. The company had previously announced weak earnings results, leading to a 15% staff cut. Fisker's electric SUV, the Ocean, has struggled to boost sales, especially in light of declining consumer demand. The company's bankruptcy adds to the list of other electric vehicle startups that have faced financial difficulties, such as Charge Enterprises, Lordstown Motors, and Proterra.
Source: YAHOO