About Emily Jarvie About the publisher We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. Proactive has always been a forward looking and enthusiastic technology adopter. About this content Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she re ...

Two years ago, an employee at Fisker Inc. told me that the most pressing concern inside the EV startup was not whether its Ocean SUV would get built. Fisker was outsourcing the manufacturing of its first EV to highly respected automotive supplier Magna, after all. The startup's November 2022 start-of-production target was aggressive, but not impossible for a company like Magna, which builds vehicles for the likes of BMW. Most all of them told me about how the lack of preparedness ran deep and permeated almo ...

Electric vehicle manufacturer Fisker Inc FSRN, once a market darling, filed for bankruptcy on Monday. What does Fisker's bankruptcy mean for an EV market facing mixed signals? In April, the National Highway Traffic Safety Administration (NHTSA) initiated a preliminary regulatory probe into the Ocean vehicles after receiving complaints that the vehicles' doors did not open properly. Remaining Players: The most obvious EV pure plays include Tesla Inc TSLA, Rivian Automotive Inc RIVN and Lucid Group Inc LCID. ...

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Patrick T. Fallon | AFP | Getty Images Fisker on Monday became the latest all-electric vehicle startup to file for Chapter 11 bankruptcy protection amid lackluster consumer demand, significant cash burn and operational and product issues. For investors, the writing's been on the wall for some t ...

Fisker (OTCMKTS:FSRN) stock is falling hard on Tuesday after the electric vehicle (EV) company filed for Chapter 11 bankruptcy protection. On top of this, Fisker says its manufacturing halt will remain in place throughout the bankruptcy. The company is also seeking permission to continue its reduced operations. That includes ongoing pay and benefits for employees, as well as maintaining customer programs and paying vendors. "Like other companies in the electric vehicle industry, we have faced various market ...

The electric vehicle (EV) company made a luxury EV for a market that was quickly moving on to lower-priced merchandise. Fisker is the second failed car start-up for founder Henrik Fisker, a Danish engineer known for designing luxury cars. His first effort, Fisker Motors, went under in 2013. It got a $509 million federal loan in 2009 to make the Karma, a hybrid sports sedan. Ocean production began in 2022 through Magna International (NYSE:MGA), a contract manufacturer. At the time, Fisker claimed it had a lo ...

By clicking "Sign Up", you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Fisker has initiated a series of layoffs over the past few months. In April it told workers it would further reduce its workforce to "preserve cash." That was after the company said in February that it planned to slash its workforce by 15%. The company brought in a chief restructuring officer who was gi ...

Fisker Inc., the EV startup founded by famed designer Henrik Fisker, filed for Chapter 11 bankruptcy protection — a capstone to months of problems with its Ocean SUV that included recalls and lawsuits. The California-based company, which filed for bankruptcy in the Delaware Court, had been seeking a deal with another automaker in a last-ditch effort to rescue the enterprise. The company estimated assets of $500 to $1 billion and liabilities of between $100 million and $500 million, according to the filing. ...

This journey toward zero has only seemingly accelerated, with a number of key issues plaguing the company. From Fisker defaulting on a $3.5 million loan to widespread layoffs carried out virtually, this is clearly an earlystage EV maker running out of runway. Fisker CEO Henrik Fisker will reportedly take the stage on June 20 for the Economic Times Autotech Summit. The company's CEO has been out of the spotlight of late, so this will be his first public appearance in some time. Accordingly, many will be payi ...

What's Happening With Fisker Stock? For a more stable company, this recall likely wouldn't matter much. For example, Tesla (NASDAQ:TSLA) has issued multiple recalls over the past few years, none of which have really impacted shares. But Fisker is a long way from being Tesla — or even from being one of its much smaller EV peers. Shares have fallen more than 96% over the past six months and currently trade at about 4 cents per share. That follows multiple surges spurred by dealership partner news. Fisker stoc ...