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.
Headlight News for The Week of 6-3-2024 – Jeep Electrifies – Lucid and Fisker Cut Jobs – New BMW 3-Series – Chevy Equinox EV Review – This Week in Automotive History
Fisker’s troubles continue to grow as the company lays off even more workers to try and reduce costs as it struggles to survive and avoid filing for bankruptcy.
In desperate need of a more affordable product that can deliver a big boost in sales, Lucid is working up a new compact SUV taking aim at the Tesla Model Y. Expect it to enter production by 2026, with a base price of less than $50,000, said CEO Peter Rawlinson, earlier than previously expected.
If you’ve got some spare cash lying around and are looking for a new home up in the Hollywood Hills you might reach out to Henrik Fisker. He’s got a place for sale overlooking the legendary Sunset Strip for $35 million. Of course, you could also buy his car company, Fisker Inc. for less than $25 million – though you could wait if you might get it for even less as it struggles to avoid bankruptcy.
Nascent EV maker Fisker’s battle to stay solvent now has the company adopting a new strategy: low-cost EV maker. The company slashed prices across its lineup by as much as 39%, including a low sticker of just under $25K. Get the details at Headlight.News.
Talks between Fisker and Nissan have collapsed, the troubled EV start-up reported. And with its shares plunging on the news, trading was halted on the Nasdaq exchange as the likelihood of a bankruptcy filing grow larger.
“Incomplete” and “Inexcusable.” Things haven’t been going well for Fisker Inc., the EV start-up that has begun taking steps that could lead to a bankruptcy filing in the coming weeks. Fisker has also announced it is halting production for six weeks. It’s unclear if the company will use that pause to address some of the issues with its first product line, the Fisker Ocean. Based on a new review by Consumer Reports, the list is a long one.
Danish automotive designer and entrepreneur Henrik Fisker may be heading for a second bankruptcy. Shares of Fisker went into freefall Thursday after the Wall Street Journal reported the executive’s latest car company is seeking the help of restructuring experts in preparation for a possible bankruptcy. Earlier this month, Fisker advised analysts and investors the startup is facing going-concern risks due to slow sales and weak revenues. It is unclear whether a potential tie-up with Nissan will be enough to overcome a fast-worsening cash crunch.
Struggling Fisker Inc. could get tossed a lifeline by Japan’s second-largest automaker. In turn, Nissan could gain some much-needed momentum as it struggles to catch up to key competitors in the EV market, according to a new report. A deep source, meanwhile, tells Headlight.News “there is a high likelihood” the alliance could come together in the coming month.
Tesla rival Fisker misses Q4 production and sales targets as the company also struggles to maintain cash reserves to survive through the remainder of 2024. The company still optimistic that it can achieve future growth through future investments. Check out the story at Headlight.News.
At least 40 new battery-electric vehicles are due to reach U.S. showrooms in 2024 — and that’s a conservative estimate as we’ve had a number of surprises dropped on us by both domestic and foreign-owned brands. If anything, the flood of EV offerings will likely accelerate going forward. Here’s a look at some of the models we’re expecting in 2025 and 2026. Headlight.News checks out 45 of them.