Fisker reverses course on making Ocean owners pay for recall repairs

Core Viewpoint - Fisker, an electric vehicle startup, is reversing its previous decision regarding recall repairs, now stating that it will cover all associated costs for owners of the Ocean SUV [1][2]. Group 1: Recall Issues - Fisker initially informed Ocean SUV owners that they would need to pay for inspection and repair costs related to recalls, which include issues such as sudden loss of power and faulty door handles [2]. - The company has since updated its FAQ to clarify that it will provide necessary parts and labor at no cost to the owners [1]. Group 2: Bankruptcy Proceedings - Fisker is currently in the fourth month of its Chapter 11 bankruptcy process and has reached a settlement plan with its major secured lender and other stakeholders [2]. - A hearing is scheduled for early October to potentially approve the settlement plan regarding the liquidation of Fisker's assets [2]. Group 3: Asset Liquidation - The company has sold nearly all of its remaining vehicle inventory to American Lease for up to $46.25 million and is now focused on liquidating over $1 billion worth of remaining assets, primarily manufacturing equipment [3].