{"id":73457,"date":"2024-06-18T09:03:39","date_gmt":"2024-06-18T13:03:39","guid":{"rendered":"http:\/\/autosector.com\/?p=73457"},"modified":"2024-06-18T09:03:39","modified_gmt":"2024-06-18T13:03:39","slug":"1143553_fisker-bankrupt-plans-to-sell-off-assets","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=73457","title":{"rendered":"Fisker goes bankrupt, plans to sell off assets"},"content":{"rendered":"<ul>\n<li><strong>Fisker&#8217;s second electric car company went bankrupt<\/strong><\/li>\n<li><strong>Fisker filed for Chapter 11 bankruptcy protection in Delaware<\/strong><\/li>\n<li><strong>&#8220;Thousands&#8221; of Ocean electric SUVs were delivered before the bankruptcy filing<\/strong><\/li>\n<\/ul>\n<p>Electric vehicle startup <strong>Fisker<\/strong> on Monday <strong>filed for Chapter 11 bankruptcy protection<\/strong> with a court in Delaware, just a year after the start of deliveries of the company&#8217;s <a href=\"https:\/\/www.motorauthority.com\/news\/1139823_fisker-ocean-range\" target=\"_blank\" rel=\"noopener\">Ocean debut model<\/a>.<\/p>\n<p>A company spokesperson said Fisker delivered \u201cthousands\u201d of the crossovers to customers in Europe and North America but was set back by \u201cvarious market and macroeconomic headwinds.\u201d<\/p>\n<p><span id=\"static-marker-video-player-primis\"\/><\/p>\n<p>In addition to facing a market cooling on EVs, Fisker also suffered challenges in ramping up production due to supply chain issues. The <strong>National Highway Traffic Safety Administration<\/strong> also started a preliminary probe into the Ocean in May after receiving complaints of doors sometimes failing to open.<\/p>\n<p>Fisker was founded in 2016 and was one of the more promising EV startups only a short while ago. It became a public company in late 2020 via a reverse merger, and the following year its share price shot up to a high of $28.50 before beginning its decline into penny stock status, with a delisting from the <strong>New York Stock Exchange<\/strong> taking place in March.<\/p>\n<div class=\"image_wrapper first_wrapper\" readability=\"7\"><img fetchpriority=\"high\" decoding=\"async\" name=\"tccimg_100884024_m\" title=\"Henrik Fisker with the first customer Fisker Ocean - May 2023\" src=\"data:image\/png;base64,R0lGODlhAQABAAD\/ACwAAAAAAQABAAACADs=\" alt=\"Henrik Fisker with the first customer Fisker Ocean - May 2023\" width=\"640\" height=\"378\" class=\"first_image lazy\" data-width=\"1024\" data-height=\"604\" data-url=\"https:\/\/images.hgmsites.net\/lrg\/henrik-fisker-with-the-first-customer-fisker-ocean--may-2023_100884024_l.webp\" data-src-h=\"https:\/\/images.hgmsites.net\/hug\/henrik-fisker-with-the-first-customer-fisker-ocean--may-2023_100884024_h.webp\" data-src=\"https:\/\/images.hgmsites.net\/lrg\/henrik-fisker-with-the-first-customer-fisker-ocean--may-2023_100884024_l.webp\" data-src-l=\"https:\/\/images.hgmsites.net\/lrg\/henrik-fisker-with-the-first-customer-fisker-ocean--may-2023_100884024_l.webp\" data-src-m=\"https:\/\/images.hgmsites.net\/med\/henrik-fisker-with-the-first-customer-fisker-ocean--may-2023_100884024_m.webp\" data-src-s=\"https:\/\/images.hgmsites.net\/sml\/henrik-fisker-with-the-first-customer-fisker-ocean--may-2023_100884024_s.webp\"\/><\/p>\n<p>Henrik Fisker with the first customer Fisker Ocean &#8211; May 2023<\/p>\n<\/div>\n<p>Fisker had attempted to raise funds by partnering with a major automaker, with talks between Fisker and Nissan rumored to have taken place. However, without a deal in place Fisker&#8217;s cash continued to deplete and the company in March decided to halt production of the Ocean at the crossover&#8217;s plant in Austria operated by contract manufacturer <strong>Magna Steyr<\/strong>.<\/p>\n<p>This marks the second time that an EV startup founded and led by Henrik Fisker has succumbed to bankruptcy. A previous incarnation of Fisker went bust in 2013, with its remaining assets sold to Chinese battery company Wanxiang. That company was revived and today <a href=\"https:\/\/www.motorauthority.com\/news\/karma-automotive\" target=\"_blank\" rel=\"noopener\">operates as Karma<\/a>.<\/p>\n<p>The modern Fisker also plans to sell its remaining assets, which the company estimates at a value of between $500 million and $1 billion. Among the assets are designs for three additional vehicles including an urban crossover <a href=\"https:\/\/www.motorauthority.com\/news\/1140399_fisker-pear-alaska-ronin-price\" target=\"_blank\" rel=\"noopener\">called the Pear<\/a>, a lifestyle pickup truck <a href=\"https:\/\/www.motorauthority.com\/news\/1140522_fisker-alaska-price\" target=\"_blank\" rel=\"noopener\">called the Alaska<\/a>, and a four-door convertible <a href=\"https:\/\/www.motorauthority.com\/news\/1140471_fisker-ronin-aims-for-supercars-with-1-000-hp-0-60-mph-in-2-seconds-for-385-000\" target=\"_blank\" rel=\"noopener\">called the Ronin<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fisker&#8217;s second electric car company went bankrupt Fisker filed for Chapter 11 bankruptcy protection in Delaware &#8220;Thousands&#8221; of Ocean electric SUVs were delivered before the bankruptcy filing Electric vehicle startup Fisker on Monday filed for Chapter 11 bankruptcy protection with a court in Delaware, just a year after the start of deliveries of the company&#8217;s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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