Electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection, the second electric startup to do so in the last year as even industry leaders struggle to lure more buyers beyond the early adapters of the technology.
Fisker Group Inc. said in a filing with the U.S. Bankruptcy Court in Delaware that its estimated assets are between $500 million and $1 billion. It estimated liabilities are between $100 million and $500 million, with between 200 and 999 creditors.
“Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently,” the company said in a prepared statement late Monday. “After evaluating all options for our business, we determined that proceeding with a sale of our assets under Chapter 11 is the most viable path forward for the company.”
This is Fisker’s second bankruptcy
With 3 bankruptcies they get become eligible for a free 8oz frozen yogurt with choice of topping.
That’s good!
But the toppings contain potassium benzoate…
… that’s bad
But only trace amounts!
Thats good!
But the teenager working the frozen yogurt stand hasn’t washed their hands.
What if they’ve lost their bankruptcy card?
If they bring their prior bankruptcy court rulings to Customer Service between the hours of 10am and 5pm Eastern Time, their card can be reissue. Note: this is a one time courtesy, and will not be repeated.
But can they get it punched like the one they had lost already? It had 2 punches…I saw it with my own 👀.
Lordstown Motors was the other one to file for bankruptcy according to the article. Admittedly hadn’t heard of them
They were a startup that tried to keep the GM plant in Lordstown running after GM downsized. Their original business model was EV conversion packages for standard IC cars, but wanted to keep jobs in the area so they tried to grow a business into fleet vehicles.
I’ll add on to this, they got a massive partnership with Foxconn, and then Foxconn basically screwed them on it.
Foxconn doing Foxconn things.
Will no one stand up to the business-killing menace that is Marques Brownlee?
That is what real journalism is supposed to look like. Give an honest review to serve the viewers.
Car goes for about 30k and has great range. Good price for a startup. Solely doing SUVs, which I don’t love, but it seems to be a decent offering for the price.
The quality was awful though, tons of issues with those cars. They might have been able to get through it if they had more money but they don’t.
They probably should’ve gone with simpler software and focused more on the fundamentals. Like they could be forgiven for not having all the self driving features at launch but an unreliable key is pretty bad.
I’m also not especially interested in EV startups at the moment. They could take decades to overtake big automakers, if ever. It’s the big automakers that need to be convinced to invest in EV production.
Regulate monopolies.
Fisker is the “special child” of the EV world.
Somebody is really pushing an anti-EV narrative.
More an Anti-computer-system-that-happens-to-have-wheels narrative.
I want a car. I want it to turn on, take me from point A to B, and maybe play some music or an audio book while I’m driving. It should tell me how fast I’m going, and how much further I can go before it needs to recharge or refuel. Give me a few buttons for basics like turning on the heat, AC, lights, and the windshield wipers.
That’s it. I just want an affordable car that can take me somewhere. None of these EV manufacturers are doing that. They all focus on software packages to set them apart from the rest, when if they just focused on making a usable, affordable car, they’d corner the market.
Let them fail until someone makes something that actually does what it’s supposed to.
I hear you, too many are SUVs or “crossovers” (still “light trucks” for the purposes of scamming gov’t regulations) as well.
But I’m pretty happy with my Leaf. 🤷
