Fisker Automotive filed for bankruptcy after struggling with funding and manufacturing issues

From Nasdaq: 2024-06-25 22:24:00

Fisker filed for bankruptcy after failing to secure enough capital to support its operations. The company rolled out its Ocean SUV, priced under $40,000, to emulate Tesla’s success, but faced financial challenges and manufacturing issues. CEO Henrik Fisker’s second attempt at building an automotive company faced similar fate as his first bankruptcy. Lessons learned include the need for sufficient funding, partnerships with reputable suppliers, and understanding break-even points in the competitive EV industry.



Read more at Nasdaq: What Went Wrong at Fisker Automotive?