Fisker, the electric vehicle startup, has filed for Chapter 11 bankruptcy protection after a tumultuous year marked by production delays, software and mechanical issues, and financial struggles. The company’s troubles began shortly after the launch of its Ocean SUV in 2023, with customers reporting problems with the vehicle’s brakes, sudden power loss, and doors that wouldn’t open. The issues led to multiple safety investigations and ultimately a pause in production. Fisker’s financial struggles continued, with the company cutting production targets, laying off staff, and struggling to meet sales goals. Despite efforts to raise capital and find a buyer, Fisker was ultimately forced to file for bankruptcy protection. The company’s collapse serves as a cautionary tale for startups entering the highly competitive automotive industry.
Fisker Files for Bankruptcy
Fisker’s Ocean SUV was beset with software and mechanical issues, rendering it inoperable for some.
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