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Fisker Group Inc. , the EV startup founded by illustrious designerHenrik Fisker , file away for Chapter 11 failure protection — a finishing touch tomonths of problemswith its Ocean SUV that included recall and dozens oflemon law lawsuit .
The California - based troupe , which filed for failure in Delaware District Court , had been seeking a deal with another carmaker in a last - ditch effort to rescue the enterprise . The companionship estimate assets of $ 500 million to $ 1 billion and liabilities of between $ 100 million and $ 500 million , allot to the filing .
Fisker report between 200 and 999 creditor , including SAP , Adobe , Salesforce and Ansys , according to the court written document that was register late Monday . The filing comes just a year after Fisker cede its all - electrical fomite , the Ocean SUV , to customers .
The much - hyped EV was disquiet from the commencement , with customers cover an array of software and mechanical problemsshortly after take on obstetrical delivery . Internally , the company struggled to stand up sufficient customer serving and maintenance efforts , and even had troublekeeping track of its money , according TechCrunch ’s previous reporting .
Fisker , which used contract manufacturer Magna , would end up delivering just a few thousand vehicles worldwide . The plan when it move public in 2020 in a special purpose skill company merger was to leverage Magna ’s fomite - construction skills to create a human relationship akin to Apple and Foxconn , according to Henrik Fisker . The EV startup even enlist with Foxconn on design to build a cheaper summary electron volt , but that stack at last fell apart .
Fisker attempted to preserve John Cash in the last few months throughseveral rounds of layoffsand other monetary value - cutting beat . It also commute its business model . in the first place this year , the company shifted away from selling right away to customers — a system Tesla has popularized — and instead tried to partner with establish dealer . Ultimately , the efforts were n’t enough to save the company from failure .
This is the 2nd vehicle ship’s company Henrik Fisker named after himself that has wound up in failure . His first movement , Fisker Automotive , was start up in 2007 andfiledfor failure protection in 2013 . That caller similarly got its fomite — a hybrid electric sports car — into yield on the road before running into tone problem and other external factors that proved fatal . ( Fisker Automotive ’s assets were buy out of bankruptcy and by what would become current electron volt startup Karma . )
