From CNBC: 2024-06-18 14:29:37

Henrik Fisker’s electric vehicle startup, Fisker, files for Chapter 11 bankruptcy protection due to lackluster consumer demand, cash burn, and operational issues. Other EV companies like Proterra, Lordstown Motors, and Electric Last Mile Solutions have also faced bankruptcy after SPAC deals. Fisker’s issues include management problems, slow consumer adoption, and software recalls. The company owes millions to creditors, including major software and engineering companies. Henrik Fisker’s first car company, Fisker Automotive, also went bankrupt in 2013. Despite the hype and promise, both companies faced major quality issues and recalls. Fisker’s bankruptcy leaves investors sidelined, unlike the first company, which was funded by federal loans.



Read more at CNBC: How the once-promising EV maker went bottom-up