Phoenix-based Nikola Motors has filed for Chapter 11, becoming the latest start-up to go bust while targeting the EV and hydrogen fuel-cell markets. Nikola officials said the company now plans to sell off its assets, though it isn’t clear a buyer has yet emerged.
Ashes to ashes, dust to rust. The life of an automobile is fairly limited. And the same can be said for automotive nameplates. With only the rarest exceptions, even the most popular badges have finite lives, as the Ford Model Y and Volkswagen Beetle proved. With the arrival of the 2025 model year there are still more nameplates set to drive off into the sunset, the Chevrolet Malibu being just one of the best-known examples. Here’s a look at some other product lines we won’t see going forward.
When the new Scout plant in South Carolina opens in 2027 it will produce the brand’s two new products on a single shift. Whether there will be enough demand for the Scout Terra and Traveler models to justify adding more shifts is uncertain. That has the new Volkswagen subsidiary looking at other options, possibly including production of vehicles for other VW brands and even some competitors.
Developing and building electric vehicles costs a lot of money, and Lucid Motors has been tapping its Saudi-based investors for billions in additional funding during the past few years. Now, the EV maker plans to go to new source: the public. At the same time, it’s getting a new top shareholder. Find out more about its IPO at Headlight.News.
Those sacred few Fisker Ocean owners continue to discover new ways they’re getting worked over. The latest? The now-bankrupt EV maker is only providing the parts for recalls free of charge. Owners will need to pay the labor costs. Find out more at Headlight.News.
EV maker Fisker secured a deal with creditors to liquidate its assets while providing ongoing assistance to the owners of the vehicles it has already produced. Find out more at Headlight.News.
While Fisker Inc. may be heading to the junkyard in the sky, there’s new life to founder Henrik Fisker’s earlier automotive start-up. Now owned by the Chinese and renamed Karma Automotive, it will show there can be life after death by unveiling two new models at the Pebble Beach Concours d’Elegance next month. And they are meant to channel the ghosts of several other one-time automotive greats, including luxury brands Pierce-Arrow and Duesenberg.
The high cost of today’s EVs has slowed demand. But there’s one model now priced at just $14,000, making it one of the lowest-priced vehicles on the market. But there is one catch: those 3,000 Fisker Ocean SUVs are being liquidated as part of the automaker’s bankruptcy. Whether you’ll be able to get parts and service going forward is far from certain.
It’s been a tough year for EV start-ups, Fisker filing for bankruptcy, and several others expected to follow. But there have been a few glimmers of hope. Price cuts helped Lucid outperform sales expectations during the second quarter, buying it time to bring a second product line to market later this year. But with Wall Street still skeptical, the California manufacturer remains critically dependent on cash from the Saudis, Lucid’s largest investor.
This week's edition of the Headlight.News podcast focuses on Fisker's ongoing woes while rival EV maker Rivian got a bailout from Volkswagen. We also talk about the recent surge in hybrid models, the J.D Power IQS study, and even go for a spin in the 2024 Mercedes CLE...
This week's edition of the Headlight.News podcast focuses on Elon Musk getting his revised $56 billion dollar pay package and EV automaker Fisker going bust. We also talk about Bugatti going hybrid with the all-new Tourbillion and we review the 2024 Ford Bronco...
For the second time in less than a dozen years, entrepreneur Henrik Fisker’s effort at launching an automotive start-up has plunged into bankruptcy. Start-up Fisker Inc. filed for Chapter 11 protection late Monday. While the one-time auto designer said the filing leaves a “viable path forward,” the options for saving the company appear increasingly sparse.