The American company Fisker, an electric car manufacturer founded by famous designer Henrik Fisker, has declared bankruptcy after months of issues with its SUV Ocean, including recalls and dozens of lawsuits.
The company filed for bankruptcy in the Delaware Court after failing to reach an agreement with another car manufacturer to avoid the end of Fisker.
The brand estimated assets between $500 million and $1 billion and liabilities between $100 million and $500 million.
The estimated number of Fisker’s creditors is between 200 and 999, including SAP, Adobe, Salesforce, and Ansys. The bankruptcy filing protects the electric vehicle brand from creditors while it develops a plan to pay off its debts.
“Like other companies in the electric vehicle industry, we have faced various market headwinds that have impacted our ability to operate efficiently,” Fisker stated in a press release.
“After evaluating all options for our business, we have determined that proceeding with the sale of our assets under the bankruptcy filing is the most viable path for the company,” the Fisker note added.
It should be noted that the American company produced over 10,000 vehicles in 2023 through Magna Steyr in Austria, less than a quarter of the initial forecasts, and only delivered about 4,700. In addition, production of the Ocean SUV was interrupted in March.
The now revealed bankruptcy of Fisker comes at a time when electric vehicle manufacturers are facing a cooling demand and sales of electric models in the US and Europe.
