Fisker Inc.

This article is about the electric car company founded in 2016. For the defunct hybrid car company of a similar name, see Fisker Automotive. For other uses, see Fisker (disambiguation).

Fisker Inc.
Company typePublic (bankrupt)
ISINUS33813J1060
IndustryAutomotive
PredecessorFisker Automotive, Fisker Coachbuild
FoundedOctober 3, 2016; 8 years ago (2016-10-03) in Los Angeles, California, U.S.
Founder
HeadquartersManhattan Beach, California, U.S.[1]
Area served
 U.S.
Western Europe
Scandinavia
ProductsFisker Ocean
Number of employees
150 (May 2023)[2][needs update]
Websitefiskerinc.com

Fisker Inc. is an American automotive company founded by Danish automotive designer Henrik Fisker and his wife Geeta Gupta-Fisker.

Launched in 2016 and based in Manhattan Beach, California, Fisker Inc. is the successor to Fisker Automotive.[3] In the summer of 2020, Fisker Inc. announced an initial public offering on the New York Stock Exchange through a merger with Spartan Energy Acquisition Corp, a SPAC backed by private equity firm Apollo Global Management.[4] The company completed the reverse merger that autumn.[5] Fisker Inc. developed the Fisker Ocean, an electric sport utility vehicle (SUV), which was released in 2023.[6][7]

In early 2024, the company experienced intense financial difficulties, and its shares were delisted from the NYSE.[8] Fisker defaulted on a short-term loan according to filings with the United States Securities and Exchange Commission[9] and stated there was “substantial doubt” about being able to sustain ongoing operations.[10] It subsequently laid off most of its employees, closed its headquarters, and began substantially reducing the price on the Ocean.[11][12][13] By June, it filed for Chapter 11 bankruptcy in US court.[14] A judge's ruling in August 2024 allowed Fisker to postpone Chapter 7 Conversion while allowing the company to continue liquidating their assets.[15]

  1. ^ "Impressum". Fisker Inc. Retrieved May 30, 2022.
  2. ^ Pickavet, Henry (June 19, 2024). "The fall of EV startup Fisker: A comprehensive timeline". TechCrunch. Retrieved July 9, 2024.
  3. ^ "Fisker Inc. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2022.
  4. ^ Assis, Claudia. "Fisker is going public: Five things to know about the electric-car maker ahead of its IPO". MarketWatch. Retrieved August 24, 2020.
  5. ^ Assis, Claudia. "Electric-car maker Fisker shares to start trading on NYSE Friday". MarketWatch. Dow Jones & Company. Retrieved October 30, 2020.
  6. ^ Szymkowski, Sean. "Fisker Ocean: Reborn electric-car startup's SUV has a name". CNET. Retrieved February 6, 2023.
  7. ^ "Fisker Makes First 22 Deliveries of Fisker Ocean SUV to Customers in the United States". Business Wire. June 23, 2023. Retrieved July 26, 2023.
  8. ^ "Fisker Delisted by NYSE as EV Maker Races to Save Itself". Bloomberg. March 25, 2024. Retrieved April 18, 2024.
  9. ^ "EV maker Fisker defaults on $3.5 million short-term loan". Morningstar, Inc. June 4, 2024. Retrieved June 11, 2024.
  10. ^ Doll, Scooter (March 1, 2024). "Fisker Q4 report: 'Substantial doubt' it can continue, seeks investment from 'large automaker'". Electrek. Retrieved June 11, 2024.
  11. ^ O'Kane, Sean (May 29, 2024). "Fisker cuts hundreds of workers in bid to keep EV startup alive". TechCrunch. Retrieved June 11, 2024.
  12. ^ Kay, Grace. "Fisker is closing its Manhattan Beach headquarters, employees say". Business Insider. Retrieved June 11, 2024.
  13. ^ Luchian, Elena (June 9, 2024). "Desperation Mode On: Fisker Is Selling the Ocean to Employees for Cheap". autoevolution. Retrieved June 11, 2024.
  14. ^ "EV startup Fisker files for bankruptcy". Reuters. June 18, 2024.
  15. ^ Darmiento, Laurence (August 24, 2024). "EV maker Fisker to be liquidated under plan to keep owners on the road". Los Angeles Times. Retrieved September 30, 2024.