It just keeps getting worse for bankrupt Fisker (OTCMKTS: FSRNQ ). Last month, the National Highway Traffic Safety Administration (NHTSA) announced three recalls for the Fisker Ocean SUV.
Fisker is recalling 7,545 Ocean electric SUVs due to a water pump issue that could cause a loss of power, the National Highway Traffic Safety Administration said.
Failed electric vehicle maker Fisker is seeking court approval to sell its inventory for cheap. Techcrunch reported its cars would be sold to American Lease for 20% of what others paid for them.
Fisker (OTCMKTS: FSRNQ ) proposed a new deal to help raise the now-bankrupt company as much as $46.25 million to put toward its debts. Under this plan, Fisker would sell off its remaining inventory of Ocean SUVS to American Lease as a last-resort fundraising measure.
Fisker has a willing buyer for its remaining inventory of all-electric Ocean SUVs, and has asked the Delaware Bankruptcy Court judge overseeing its Chapter 11 case to approve the sale.
Fisker (OTCMKTS: FSRNQ ) is a company investors may notice has a “Q” at the end of its ticker symbol. This means it is a company that has already declared bankruptcy.
Fisker Inc. said Friday it has issued a voluntary recall of 12,523 vehicles in North America and Europe to address an issue involving the outer door handles.
Electric-vehicle maker Fisker is recalling 8,204 Ocean vehicles in the U.S. due to an issue where exterior door handles can stick and fail to open, the U.S. National Highway Traffic Safety Administration said on Friday.
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Last week, Fisker's (OTCMKTS: FSRN ) operating subsidiary, Fisker Group, announced that it had filed for Chapter 11 bankruptcy protection, sending FSRN stock plummeting lower. The announcement wasn't all too surprising, as it followed a going concern warning, a delisting from the New York Stock Exchange and the botched debut of the Ocean electric vehicle (EV) laden with software issues and user complaints.
Losses have been mounting for years, but Fisker's bankruptcy shows the market won't fund EV dreams forever. Who will be next to fail in the EV market?
Fisker is just a few days into its Chapter 11 bankruptcy, and the fight over its assets is already charged, with one lawyer claiming the startup has been liquidating assets “outside the court's supervision.”