EV Start-Up Files For Bankruptcy One Year After Rolling Out Its First Model
An electric vehicle (EV) producer that was once a splashy start-up company has filed for bankruptcy. Fisker filed for Chapter 11 bankruptcy on Tuesday after trying and failing to secure more investment to stay afloat…
An electric vehicle (EV) producer that was once a splashy start-up company has filed for bankruptcy.
Fisker filed for Chapter 11 bankruptcy on Tuesday after trying and failing to secure more investment to stay afloat, the company announced. The company once attracted robust interest and hype, marketing itself as the Apple of vehicles, but it struggled to run as a public company and was stuck with thousands of EVs that it did not sell, according to The Wall Street Journal.
“We are proud of our achievements, and we have put thousands of Fisker Ocean SUVs in customers’ hands in both North America and Europe. But like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently,” a Fisker spokesperson said in a statement. “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.”
Representatives for Fisker declined to comment further.