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How $3B EV startup Fisker went bankrupt
In this issue, we’ll dive deep into the $3B American Electric vehicle startup Fisker and the timeline that led it to file for Chapter 11 bankruptcy in the US court.
Loryn Chen & Dark Mode
June 21, 2024
Hi there,
In this issue, we’ll dive deep into the $3B American Electric vehicle startup Fisker and the timeline that led it to file for Chapter 11 bankruptcy in the US court.
Let’s get into it 👇
Context
Fisker Inc. is an American electric vehicle company founded in 2016 by renowned automotive designer Henrik Fisker and his wife Geeta Gupta-Fisker. The founders aimed to compete and take market share away from Tesla.
The startup IPO’d on the NYSE in 2020 through a SPAC and reached a valuation as high as $3B.
Fisker only has one released product called the Fisker Ocean. It’s an electric SUV intended to be the first of three in a lineup of mass-market all-electric vehicles designed by co-founder Henrik Fisker.
The Fisker Ocean launched in 2023 and things started to fall apart…