EV Fail: Fisker, Once Promoted by Joe Biden, Joins the List of Electric Vehicle Bankruptcies

Fisker, once considered a competitor of Tesla in the EV market, has filed for Chapter 11 bankruptcy protection, seeking to restructure its debt and sell assets in an effort to salvage its operations.

Reuters reports that the EV market has proven to be a challenging landscape for many companies, with Fisker becoming the latest to succumb to the pressures of weakening demand, fundraising difficulties, and supply chain issues. The company, founded by automotive designer Henrik Fisker, joins the ranks of Proterra, Lordstown, and Electric Last Mile Solutions, all of which have filed for bankruptcy in the past two years. ---More...

US electric vehicle maker Fisker filed for bankruptcy protection after being hit by a rapid cash burn while it tries to deliver its ‘Ocean’ EVs in the US and Europe https://t.co/GuDDV237AR pic.twitter.com/9A36yJtm4a

— Reuters (@Reuters)June 18, 2024

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