Fisker Ocean owners stuck paying for recall repairs

Core Viewpoint - Fisker, an electric vehicle startup, is currently in Chapter 11 bankruptcy and has announced that existing owners of its Ocean SUVs will incur labor costs for resolving two of five outstanding recalls [1][3]. Group 1: Recalls and Repairs - Three of the five recalls can be addressed through over-the-air software updates at no cost to owners [2]. - The remaining two recalls involve faulty door handles and the need to replace an electric water pump, which has caused power loss in some vehicles. While Fisker will cover the cost of parts, owners must pay for inspection and repair at authorized service providers [3]. Group 2: Bankruptcy Proceedings - Fisker has reached a settlement plan with its major secured lender, unsecured creditors, and contract manufacturer Magna regarding the liquidation of its assets [3]. - A court hearing is scheduled for early October to potentially approve the settlement plan [3]. Group 3: Asset Liquidation - The company has sold nearly all of its remaining vehicle inventory to American Lease for up to $46.25 million [4]. - Fisker needs to liquidate remaining assets, reportedly worth over $1 billion, primarily consisting of manufacturing equipment from Magna's factory in Austria, to repay creditors [4].