Fisker stock drops after 'garbage' report about failing SUVs

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Fisker is pushing back on a report that its electric SUV has faulty software that limits the vehicle's speed and will require months of troubleshooting.

was down ahead of its first quarter earnings report on Tuesday following a Bloomberg report that the first of its Ocean SUVs delivered to customers were experiencing significant technical issues.would require "months" of troubleshooting and that some were using a "more basic software that limits the vehicles' speed," and that one of the cars was being returned to the factory because it is "inoperable.

"We categorically deny that the Fisker Ocean can be driven at only low speeds. We are launching with basic ADAS software, a decision we announced last year, and that software will be updated over-the-air during the year," the automaker said in a statement responding to the report. Later during the company's earnings call, Fisker CEO Henrik Fisker said that it was a "garbage article" and confirmed that two cars had been delivered to customers in Europe so far.One is in Copenhagen, and the other in Munich. Fisker said, "as soon as I get back to Munich, I’m planning to drive it.

The Ocean has a California Mode that opens the sunroof and all the windows simultaneously, including the one on the tailgate.

 

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