Comment on Embattled EV startup Fisker files for bankruptcy

Embattled EV startup Fisker files for bankruptcy

Fisker filed for bankruptcy.FREDERIC J. BROWNFisker has filed for bankruptcy, following its warnings of potential business failure.The company initiated a series of layoffs over the past few months.Fisker is one of several companies to face headwinds from an EV sales slowdown.Fisker filed for Chapter 11 bankruptcy protections on Monday, marking a brutal blow to the startup that was once worth as much as $8 billion.Fisker, the second failed automotive startup founded by car designer Henrik Fisker, is the latest EV upstart to fail."Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently," Fisker said.The company said that its manufacturing pause would remain in place but that it plans to file "customary motions" with the bankruptcy court to ensure it can continue to pay employee wages and its vendors.As the EV industry at large faced headwinds this year, Fisker was no exception.

 

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