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Fisker tried to out-Tesla Tesla, and now it’s bankrupt
Henrik Fisker tried to out-bombast Elon Musk. It didn’t work.
In some respects, Fisker’s bankruptcy is a product of this particular moment, in which EV sales growth has slowed, and companies that have bet everything on pure battery-electric vehicles are finding themselves in a cash crunch. Henrik had “presented” the idea of an electric Popemobile to Pope Francis as part of a meet and greet that lasted a little over a minute, and the Holy Father gave no indication of his approval. It tried to sell its vehicles directly to consumers like Tesla does, eschewing the franchised dealership model used by most legacy automakers, but then had to backtrack after finding that its costs exceeded its projections.
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