Reported 8 months ago
Electric vehicle manufacturer Fisker has filed for Chapter 11 bankruptcy protection, becoming the second electric startup to do so in the past year, citing market challenges and macroeconomic headwinds. Fisker Group Inc. estimated its assets between $500 million and $1 billion, with liabilities ranging from $100 million to $500 million. The company plans to proceed with a sale of its assets under Chapter 11. The electric car company, founded by Henrik Fisker, aimed to compete with Tesla and Detroit automakers but faced slowing EV sales due to various factors like infrastructure limitations and rising inflation impacting consumer car loan affordability.
Source: YAHOO