Autoweek

Electric Vehicle Startup Fisker Files for Bankruptcy

Collapse Follows Production Halt and Financial Struggles

By Kevin Purdy | June 18, 2024 | 8:53 PM UTC

WEB EV firm Fisker has filed for bankruptcy months after halting production of its Ocean SUV. The company, which has delivered only a few thousand vehicles, faces substantial financial challenges and doubts about its ability to continue operating.

In March 2024, Fisker released its fiscal year 2023 report, which raised concerns about the company's viability. The report revealed significant operating losses and debt, prompting speculation about bankruptcy.

On Monday, Fisker filed for bankruptcy protection, becoming the latest electric vehicle startup to succumb to financial pressures. The company's assets will be auctioned off, and creditors will seek to recover their investments.

Fisker Investor Relations Fisker Inc