Fisker was facing “potential financial distress” as early as last August, according to a new filing in its Chapter 11 bankruptcy proceeding, which the EV startup initiated earlier this week. The admission provides a clearer picture of Fisker’s troubles in 2023 as it struggled to ramp up deliveries of its flagship Ocean SUV, despite CEO […]
Fisker faced financial distress as early as last August Read More »
Two years ago, an employee at Fisker Inc. told me that the most pressing concern inside the EV startup was not whether its Ocean SUV would get built. Fisker was outsourcing the manufacturing of its first EV to highly respected automotive supplier Magna, after all. The startup’s November 2022 start-of-production target was aggressive, but not
Fisker failed because it wasn’t ready to be a car company Read More »
An autonomous pod. A solid-state battery-powered sports car. An electric pickup truck. A convertible grand tourer EV with up to 600 miles of range. A “fully connected mobility device” for young urban innovators to be built by Foxconn and priced under $30,000. The next Popemobile. Over the past eight years, famed vehicle designer Henrik Fisker
Inside EV startup Fisker’s collapse: how the company crumbled under its founders’ whims Read More »
Electric vehicle demand might be softening, but investors appear to be excited about the U.S. debut of a Chinese luxury EV brand. Geely-owned Zeekr hit the New York Stock Exchange with a splash on Friday, making it the first major U.S. listing by a Chinese company since 2021, following China’s effective ban on foreign IPOs.
The buzziest EV IPO of the year is a Chinese automaker Read More »
Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability. The EV-maker brought in $1.2 billion in revenue in the period, coming in just under its record haul from the prior quarter, according to its first-quarter earnings report that was
Rivian loses $1.45 billion as cost-cutting measures continue Read More »
Lucid Motors’ senior vice president of digital Mike Bell has resigned from his position. The company said in a filing Monday that the longtime Apple and Intel executive’s resignation is “effective immediately, in order to pursue other opportunities.” Lucid says Bell will serve in an advisory role through mid-August to help “transition” his duties at
Lucid loses longtime Apple and Intel exec who steered software division Read More »
Henrik Fisker stood on a stage last August and proudly debuted two prototypes designed to catapult his eponymous EV startup Fisker into the mainstream. There was the Pear, a low-cost EV meant for the masses, and the Alaska, Fisker’s entry into the red-hot pickup truck market. In the weeks that followed, Fisker stopped paying the
EV startup Fisker Inc. is laying off more employees to “preserve cash,” one week after warning investors it would have to make cuts to stave off impending bankruptcy, according to an internal email viewed by TechCrunch. Founder and CEO Henrik Fisker told employees Monday morning in the email that the company is “continuing to evaluate
Fisker starts new round of layoffs to ‘preserve cash’ Read More »
