Fisker, once considered a competitor of Tesla in the EV market, has filed for Chapter 11 bankruptcy protection, seeking to restructure its debt and sell assets in an effort to salvage its operations.
Fisker, once considered a competitor of Tesla in the EV market, has filed for Chapter 11 bankruptcy protection, seeking to restructure its debt and sell assets in an effort to salvage its operations.
Reuters reports that the EV market has proven to be a challenging landscape for many companies, with Fisker becoming the latest to succumb to the pressures of weakening demand, fundraising difficulties, and supply chain issues. The company, founded by automotive designer Henrik Fisker, joins the ranks of Proterra, Lordstown, and Electric Last Mile Solutions, all of which have filed for bankruptcy in the past two years.
Fisker’s troubles began in February when it raised concerns about its ability to remain in business.
