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EV Maker Fisker Files for Bankruptcy
Fisker filed for bankruptcy on Monday, months after the electric-vehicle startup stopped production of its only model, the oft-malfunctioning Ocean SUV. From a report: Fisker is the second plug-in car company started by Henrik Fisker -- a famed designer of BMW and Aston Martin sports cars -- to end ...
An earlier venture, Fisker Automotive, filed for Chapter 11 protection in 2013 after a series of recalls spelled the downfall of its battery supplier, a fellow recipient of US Energy Department loans. 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 subsidiary that manufactures vehicles for the likes of Toyota, BMW and Mercedes-Benz. In February of this year, influential YouTuber Marques Brownlee produced a video -- This is the Worst Car I've Ever Reviewed -- that summarizes a series of issues he experienced while borrowing an Ocean from a New Jersey dealership.
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