-- Fisker Inc. filed for bankruptcy on Monday, months after the electric-vehicle startup stopped production of its only model, the oft-malfunctioning Ocean SUV.Hedge Funds’ Secret Weapon to Fight the SEC Lives in Texas
The undoing of Fisker Inc. was more self-inflicted. The startup went public in 2020 as part of the wave of EV companies to benefit from the pandemic era boom in special purpose acquisition companies. Combining with a SPAC sponsored by Apollo Global Management Inc. left Fisker with roughly $1 billion in cash and helped the company land a deal with a Magna International Inc. subsidiary that manufactures vehicles for the likes of Toyota, BMW and Mercedes-Benz.
Magna executives said during an earnings call last month that the company’s updated outlook for this year assumed no further production of Ocean SUVs. While the company laid off 400 to 500 people from its facility in Graz, Austria, the plant employs around 7,000 workers and continues to manufacture vehicles for BMW, Mercedes, Toyota and Jaguar Land Rover.
Fisker follows a handful of other EV startups into bankruptcy, including Charge Enterprises, the installer of EV charging stations that filed for Chapter 11 protection in March. Other EV makers that have filed for bankruptcy include Lordstown Motors, Proterra and Electric Last Mile Solutions.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Fonte: BNNBloomberg - 🏆 83. / 50 Leggi di più »
Fonte: YahooFinanceCA - 🏆 47. / 63 Leggi di più »
Fonte: YahooFinanceCA - 🏆 47. / 63 Leggi di più »