The moment Fisker Ocean owners have been dreading is here. Fisker Group Inc., the operating subsidiary of troubled California-based EV startup Fisker Inc., officially filed for Chapter 11 bankruptcy protection in the District of Delaware yesterday, citing “various market and macroeconomic headwinds.” The company said in a statement that it is in “advanced discussions with financial stakeholders regarding debtor-in-possession financing and the sale of its assets.
The first time was when Fisker Automotive, the company that built the Karma extended-range EV, went under in 2014, and the second time came only a decade later. Fisker Inc.’s financial woes were clear from the beginning of the year when it became known that the company burned through roughly $70 million per month on average in 2023 for a total of nearly $1 billion.
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