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10 mentions found


☆ Electric SUV maker Fisker files for bankruptcy
  + stars: | 2024-06-18 | by ( Olesya Dmitracova | ) edition.cnn.com   time to read: +3 min
London CNN —Fisker, a US electric vehicle startup, said Tuesday it had filed for bankruptcy. Fisker added then that it was in discussions with an existing investor about possibly putting more money into the company. Its sole product is the Fisker Ocean electric SUV. The Ocean was also the subject of a review that month by American YouTuber Marques Brownlee titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. Fisker filed for bankruptcy Monday, choosing the common Chapter 11 route, which allows companies to try to resolve their financial problems through reorganization.
Persons: London CNN —, Fisker, American YouTuber Marques Brownlee, ”, Henrik Fisker, BYD, Tesla Organizations: London CNN, Automotive News, Hyundai, Kia, Ford, General Motors, International Energy Agency Locations: American, EVs, United States, Europe, “
☆ E.V. Maker Fisker Files for Bankruptcy as Cash Runs Short
  + stars: | 2024-06-18 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com   time to read: +1 min
Fisker filed for bankruptcy protection late on Monday, the latest start-up in the electric vehicle industry to fall short after raising large amounts of money from investors with lofty expectations. Fisker’s bankruptcy filing, roughly one year after it delivered its first vehicle and almost four years after it went public, came after months of doubts about its financial viability. The start-up repeatedly cut production targets for its flagship Ocean S.U.V. Talks with another automaker about a potential investment broke down earlier this year, and the company’s beaten-down stock, once worth several billion dollars, was delisted from the New York Stock Exchange for “abnormally low” price levels. It outsourced production and emphasized its design and software, such as a rotating dashboard screen.
Persons: Fisker Organizations: New York Stock Exchange
☆ You can buy this electric luxury SUV for $25,000 right now. But there might be a catch
  + stars: | 2024-03-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +3 min
CNN —For sale: A brand new luxury electric SUV for the holy-grail price of $25,000. The California-based electric SUV company Fisker faces a real possibility of bankruptcy, and its stock is hovering just over 2 cents a share, far below its 2021 peak of $28.50. Prices for Fisker’s Ocean SUV have been cut by as much 39%. His video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. Fisker has said that problems with early versions of the vehicles’ software caused some of the negative responses.
Persons: hasn’t, Marques Brownlee, ”, Fisker, Henrik Fisker Organizations: CNN, American YouTube, Consumer, Magna Steyr, Magna Locations: California, American, Danish, United States, Europe, Austria
☆ Fisker shares halted as EV company navigates uncertain future
  + stars: | 2024-03-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +3 min
CNN —Shares of Fisker, a California-based electric vehicle startup, were halted Monday. Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr. Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers. The video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established.
Persons: Fisker’s, Fisker, Henrik Fisker, Marques Brownlee, ” Organizations: CNN, Reuters, Nissan, Magna Steyr, Mercedes, BMW, EV, American YouTube, Consumer, Automotive News, Hyundai, Kia, Ford, General Motors Locations: California, Alaska, Austria, Ohio, American
☆ EV maker Fisker’s stock dives after company reportedly explores bankruptcy
  + stars: | 2024-03-13 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +2 min
CNN —Electric vehicle company Fisker’s stock plunged more than 40% in after-hours trading on Wednesday as investor concern about the company’s ability to stay in business intensified. The Ocean is built in Austria by Magna, a company that has also built vehicles for Mercedes-Benz, BMW and Jaguar. Brownlee’s video has racked up more than 4.5 million views so far and sent the stock plunging after its release. Fisker’s stock was trading at 32 cents a share at the close of trading Wednesday, a more than 80% decline since the start of 2024. Fisker is founder Henrik Fisker’s second car company.
Persons: Fisker, Marques Brownlee, madeh, ”, Henrik Fisker’s, Hurricane Sandy Organizations: CNN —, Wall Street, Magna, Mercedes, Benz, BMW, YouTube, Fisker Automotive, Hurricane Locations: Austria, American
☆ EV maker Fisker says it may go out of business
  + stars: | 2024-03-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +2 min
New York CNN —Fisker, the electric vehicle company founded by auto designer Henrik Fisker, announced in its fourth quarter earnings Thursday that it might not have enough money to survive another year. The company is in discussions with an existing investor about possibly putting more money into the company, the EV maker said in its announcement. Last year, Magna produced more than 10,193 Fisker SUVs, but fewer than half of those were delivered to customers within the calendar year, the company announced. Fisker is founder Henrik Fisker’s second car company. His first, Fisker Automotive, produced a plug-in hybrid luxury car called the Fisker Karma.
Persons: New York CNN — Fisker, Henrik Fisker, Fisker, Henrik, Henrik Fisker’s Organizations: New, New York CNN, Magna, Mercedes, Benz, BMW, Fisker Automotive Locations: New York, Austria, Europe, Hurricane
☆ EV Startup Fisker Has Lost Another Chief Accounting Officer
  + stars: | 2023-11-20 | by ( Sean Mclain | ) www.wsj.com   time to read: 1 min
Fisker’s first vehicle, the Ocean SUV, went on sale earlier this year. Photo: Angel Garcia/Bloomberg NewsElectric-vehicle startup Fisker has lost its second chief accounting officer in less than a month, marking the latest setback for a company that only recently started selling its first model. Florus Beuting , who was named chief accounting officer in early November, has left the automaker, according to people familiar with the situation. His exit follows the departure of his predecessor, who left in late October to take a job with another company, leading Fisker to unexpectedly delay its earnings release.
Persons: Angel Garcia, Beuting Organizations: Bloomberg News Electric
☆ Fisker Shares Jump 27% as Ocean EV Deliveries Set for Spring Launch
  + stars: | 2023-02-27 | by ( Dia Gill | ) www.wsj.com   time to read: 1 min
Fisker’s Ocean SUV on display at the Paris Car Show last year. Shares for Fisker Inc. climbed 27% to $7.23 in Monday trading after the electric-vehicle startup confirmed that deliveries for its first vehicle, the Ocean SUV, would commence in the spring. Chief Executive Henrik Fisker said on a Monday call with investors that the EV’s homologation approval process would be completed in March, with deliveries set to begin shortly after, pending additional regulatory approvals.
☆ Fisker Shares Jump 30% as Ocean EV Deliveries Are Set for Spring Launch
  + stars: | 2023-02-27 | by ( Dia Gill | ) www.wsj.com   time to read: 1 min
Fisker’s Ocean SUV on display at the Paris Car Show last year. Shares of Fisker Inc. surged 30% to $7.40 on Monday after the electric-vehicle startup confirmed that deliveries for its first vehicle, the Ocean SUV, would commence in the spring. Chief Executive Henrik Fisker said on a Monday call with investors that an approval process for the EV would be completed in March, with deliveries set to begin shortly after, pending additional regulatory approvals.
☆ IPhone maker Foxconn reveals its electric car future
  + stars: | 2022-10-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +4 min
Lordstown Motors sold the factory to Foxconn earlier this year while Foxconn, in turn, agreed to build Lordstown’s electric pickup, the Endurance, there. Another California-based startup, Indi EV, has also agreed to have Foxconn build its car, the Indi One, there. Aside from road-going automobiles, Foxconn has also agreed to build an electric farm tractor, the Monarch MK-V, at the factory. Luxgen’s parent company, Yulon Group, and Foxconn created a joint venture called Foxtron in 2021 to develop and manufacture electric vehicles. Various Foxconn companies are part of an large industry group called the MIH, or Mobility in Harmony, consortium, which is jointly developing the basic electric vehicle engineering platform that underlies Foxconn’s electric vehicles.
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