All articles tagged with #fisker
Originally Published 3 months ago — by The Verge
After Fisker, an EV maker, went bankrupt leaving owners with unresolved issues, a grassroots owner organization called the Fisker Owners Association has emerged to support and maintain the vehicles, effectively becoming a self-managed car company for their orphaned EVs.
Originally Published 1 year ago — by Reuters
Electric vehicle startup Fisker is heading towards liquidation as it struggles to secure financing, with creditors battling over asset repayment. The company, which filed for bankruptcy in Delaware, owes over $850 million to bondholders and has reached a tentative deal to sell its 4,300 vehicles. Fisker, founded by Henrik Fisker, was never profitable and faced significant financial challenges, including a failed partnership with Nissan. The hyper-competitive EV market has seen several companies face similar fates recently.
Originally Published 1 year ago — by TechCrunch
Fisker, the electric vehicle startup, has been facing financial distress since August 2023, leading to its recent Chapter 11 bankruptcy filing. Despite efforts to secure partnerships and promote new models, the company struggled with production and financial obligations. Talks with Nissan for a potential partnership fell through, and Fisker ceased production of its Ocean SUV, laid off employees, and now plans to liquidate assets. The bankruptcy proceedings aim to stabilize operations while addressing debts, with significant amounts owed to creditors, including Heights Capital Management.
Originally Published 1 year ago — by EV
Electric vehicle startup Fisker has initiated another round of layoffs affecting multiple teams, including User Experience, Technical Training, Human Resources, and Social Media, amid ongoing financial struggles and challenges in securing new investments. The company has also halted direct vehicle sales in states without dealership locations and discontinued roadside assistance services in the U.S. and Europe. Despite expanding its dealership network in Europe and the U.S., Fisker remains in a precarious financial position, with its future uncertain.
Originally Published 1 year ago — by TechCrunch
Tech reviewers, including popular YouTuber MKBHD, have criticized Humane AI's Ai Pin for its subpar performance, sparking a debate about the influence of tech influencers on company success. While some argue that MKBHD's critique could harm nascent projects, others point out that Humane AI had significant funding and should be held to a higher standard. Similar controversy arose when MKBHD negatively reviewed the Fisker Ocean car, leading to layoffs and production halts, though the company was already facing financial and safety issues. Some Black techies see the critique of MKBHD as a form of tone policing and bias against Black voices in tech criticism.
Originally Published 1 year ago — by Benzinga
Fisker, an electric vehicle startup, is facing a setback as over 40,000 customers reportedly cancel reservations for its flagship electric vehicle, the Fisker Ocean. The cancellations come amid financial challenges, potential bankruptcy filing, and significant price cuts for its 2023 model year Ocean SUV. The company's cash balance has dwindled, and it reported a net loss of $463.6 million for the fourth quarter. Fisker initiated a production pause to address inventory and financing issues.
Originally Published 1 year ago — by Motor1
Fisker's announcement of a $24,999 starting price for the 2023 Ocean has raised doubts about the vehicle's existence, with reports suggesting that the ultra-cheap luxury SUV may not be available. Despite communication roadblocks and potential bankruptcy concerns, potential buyers are advised to approach the discounted 2023 Ocean with caution, as the base MSRP may not reflect the actual price due to additional options. Classic Fisker, the only listed dealership, has indicated that the $25,000 Sports and $35,000 Ultras are not currently available in the US, with inventory constraints and potential pricing discrepancies.
Originally Published 1 year ago — by Fox Business
Electric vehicle startup Fisker has slashed prices for its 2023 Ocean electric SUV lineup in a bid to avoid bankruptcy after a potential deal with another automaker fell through. The company reduced the MSRPs by tens of thousands of dollars and emphasized the vehicles' additional options. Industry analysts express concerns about Fisker's future, with one suggesting that only a few EV companies, including Tesla and major traditional automakers producing EVs, will survive in the long run. Fisker's shares have been delisted from the New York Stock Exchange, and the company is considering strategic alternatives, including potential restructurings and capital market transactions. If Fisker were to file for bankruptcy, it would be the second auto startup from CEO Henrik Fisker to do so.
Originally Published 1 year ago — by CNN
Fisker, a California-based electric SUV company, is offering its luxury Ocean SUV at a discounted price of $25,000 due to a potential bankruptcy situation and stock value decline. Despite critical reviews and production halts, the company is strategically positioning the SUV as a more affordable option. However, concerns about servicing, negative reviews, and the company's financial stability raise questions about the purchase.
Originally Published 1 year ago — by Yahoo Finance
Electric vehicle startup Fisker has slashed the prices of its 2023 electric Ocean SUV models by up to 39% in an effort to boost demand and address its financial challenges. The company's decision to reduce prices comes after failed talks with a major automaker and a looming debt default. Fisker aims to raise funds to meet its debt obligations and is exploring strategic options, including restructuring and capital market transactions. The price cuts are part of the company's efforts to navigate its uncertain future in the competitive electric vehicle market, where it competes with Tesla's Model Y SUV and other mid-size electric SUVs.
Originally Published 1 year ago — by TESLARATI
Fisker has slashed prices on its Ocean EV by as much as $24,000 in an effort to stay afloat amidst rumors of bankruptcy. The company has faced challenges including delayed SEC filings, staff reductions, and failed bailout plans. Despite negative reviews, Fisker hopes the price cuts will boost sales and provide much-needed financial relief.
Originally Published 1 year ago — by Business Insider
Fisker has slashed the prices of its Ocean SUV by up to $24,000 in a bid to avoid bankruptcy, with the most expensive model now priced at $37,499. The move comes as the electric-vehicle startup faces financial challenges, including a pending delisting of its stock. While the discounts aim to make the Ocean more affordable and competitive in the EV market, such drastic price cuts could potentially harm the resale value of the vehicles.
Originally Published 1 year ago — by Motor1
Fisker, the struggling electric vehicle startup, failed to secure a deal with potential suitors, including Nissan, and is now facing the possibility of bankruptcy. The company's stock plummeted, and it is exploring strategic alternatives to stay afloat, including business restructurings and stock buybacks. Fisker has already reduced its workforce and is transitioning to a traditional dealer model, but its future remains uncertain.
Originally Published 1 year ago — by Yahoo Finance
Fisker's stock has entered the delisting process on the New York Stock Exchange, potentially leading to a default on its 2026 notes and subsequent default on the 2025 notes. The company's decline and uncertain future are discussed by Yahoo Finance reporter Pras Subramanian, who suggests that Fisker may be sold to another company, similar to its previous acquisition by a Chinese company.
Originally Published 1 year ago — by TechCrunch
The New York Stock Exchange has suspended trading of EV startup Fisker's shares and is moving to delist the company due to "abnormally low" price levels, triggering repayment clauses in outstanding loans. Fisker's stock is expected to be moved to an over-the-counter market, and the company has lost a potential deal with a large automaker, endangering its attempt at securing emergency funding. With escalating problems including customer complaints, lawsuits, federal investigations, and financial struggles, Fisker has struggled to sell its Ocean SUV and warned investors it would not survive a year without a fresh infusion of cash.