Image: CarExpert
Image: CarExpert
AutoExec Summary
US-based electric vehicle manufacturer Fisker has filed for bankruptcy, less than two years after launching its Ocean SUV as a competitor to Tesla. The company cited market challenges as the reason for the decision. Fisker had struggled to sell the Ocean at volume and faced various setbacks, including safety concerns and recalls. Job cuts, halted production, and failed partnership attempts all contributed to the company’s downfall. Fisker’s Austrian division also filed for restructuring. The company had previously contracted Magna International to produce its vehicles. Ultimately, Fisker’s bankruptcy marks another setback for the electric vehicle industry.
Brands mentioned: Fisker, Tesla, Lordstown Motors, BMW, Magna International, Nissan.