Electric Vehicle Maker Fisker Files for Chapter 11 Bankruptcy Again

Electric vehicle startup Fisker has filed for Chapter 11 bankruptcy after struggling with financial and operational challenges, including poor sales and quality issues with its Ocean SUV. Despite initial promise and customer interest, Fisker faced dwindling demand, high manufacturing costs, and difficulties in securing additional funding, leading to production halts and layoffs. The company, which listed assets between $500 million and $1 billion and liabilities up to $500 million, will now sell its assets. Fisker's issues were compounded by market conditions such as high interest rates and a general slowdown in EV sales. This marks the second bankruptcy for a company founded by Henrik Fisker, following the collapse of Fisker Automotive in 2013.