Henrik Fisker once envisioned a burgeoning EV empire at the startup he named after himself, which was to be led by the Ocean SUV. But cracks started showing in that vision almost as soon as the Ocean hit the road in 2023. Fisker cut production targets multiple times, failed to meet sales goals and laid […]
The fall of EV startup Fisker: A comprehensive timeline Read More »
Fisker Inc. co-founders Henrik Fisker and his wife, Geeta Gupta-Fisker, are lowering their salaries to $1 in order to keep their failed EV startup’s bankruptcy proceedings funded, as lawyers work to complete a sale of its remaining inventory. Fisker Inc.’s restructuring officer, John DiDonato, said in a Tuesday morning filing that the couple, who co-founded
Henrik Fisker drops salary to $1 to keep Fisker Inc. bankruptcy case alive Read More »
Fisker has a willing buyer for its remaining inventory of all-electric Ocean SUVs, and has asked the Delaware Bankruptcy Court judge overseeing its Chapter 11 case to approve the sale. If approved by the judge, Fisker would be able to offload 3,321 finished EVs to a New York-based vehicle leasing company for $46.25 million. That
Fisker asks bankruptcy court to sell its EVs at average of $14,000 each Read More »
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! Am I the only one whose head is spinning from all of the transpo news this week? Reminder, it’s only Thursday morning. Let’s jump in! Oh wait,
VW taps Rivian in $5B EV deal and the fight over Fisker’s assets Read More »
Fisker is just a few days into its Chapter 11 bankruptcy, and the fight over its assets is already charged, with one lawyer claiming the startup has been liquidating assets “outside the court’s supervision.” At issue is the relationship between Fisker and its largest secured lender, Heights Capital Management, an affiliate of financial services company
The fight over Fisker’s assets is already heating up Read More »
Welcome to Startups Weekly — Haje‘s weekly recap of everything you can’t miss from the world of startups. Sign up here to get it in your inbox every Friday. Elon Musk just convinced Tesla shareholders to approve his $56 billion pay package, making him the highest-paid CEO in history — assuming he can dodge a
Tesla makes Musk best-paid CEO of all time and Fisker bites the dust Read More »
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 »
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! I’m back from holiday in Denmark and Germany, where I managed to try just about every kind of transportation, from bikes to scooters, to driving on the
Why Fisker failed | TechCrunch Read More »
Henrik Fisker once envisioned a burgeoning EV empire at the startup he named after himself, which was to be led by the Ocean SUV. But cracks started showing in that vision almost as soon as the Ocean hit the road in 2023. Fisker cut production targets multiple times, failed to meet sales goals and laid
The fall of EV startup Fisker: A comprehensive timeline 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 »
