Reported 11 months ago
Electric vehicle startup Fisker is on the path to liquidation as revealed in U.S. bankruptcy court due to cash depletion and internal conflict between creditor factions. Fisker, known for its Ocean SUVs, filed for bankruptcy in Delaware and is now looking to liquidate its assets, with a potential deal for the sale of its 4,300 vehicles. The company's financial troubles escalated, with $273 million in revenue and a $940 million net loss in 2023, leading to a dispute over repayment priority between two bondholder groups.
Source: YAHOO