Fisker files for bankruptcy after collapse of rescue deal

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Electric car start-up will sell off its assets to repay creditors, having failed to raise crucial funding

Fisker has filed for bankruptcy, bringing an end to months of attempts to rescue the electric car start-up. The firm raised concerns over its ability to continue operations in February 2024, having made a loss of $463.6m during the fourth quarter of last year. In March, it paused production of the Ocean SUV and halted development of the smaller Pear hatchback while it sought a rescue deal with a “large auto maker”. Talks with that manufacturer, widely reported to have been Nissan, collapsed.

It has declared assets with a total value of between $500 million and $1 billion, and debts between $100 million and $500 million, as part of its bankruptcy filing. The company said in a statement that it is in “advanced discussions” regarding financing and the sale of its assets. It added: “We are proud of our achievements, and we have put thousands of Fisker Ocean SUVs in customers’ hands in both North American and Europe.

 

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