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Fisker has recently filed for bankruptcy, this news came directly after the company recalled most of its Ocean SUVs for the 2023 models due to a motor control unit fault (MCU), this is particularly bad news for the company as this is the only model the company currently produces and it's since been through a wave of bad reviews which has seen orders canceled, demand drops and the stock continues to crash.
The company is working with shareholders to establish financing and to lay out the scales of Fisker's assets.
In a statement from Fisker Inc., the company outlines its manufacturing pause will continue for the foreseeable future from that the company seems keen on continuing operations which would benefit its employers and customers' plans.
Fisker went public in 2020 with Henrik the CEO at the helm, since then the company's struggles have gone from bad to worse, with the New York Stock Exchange warning the company of an impending delisting as the price drops below $1.
Fisker's recent recalls of its 2023 Ocean models were software-related and this is perhaps a positive in many ways, as software malfunctions are very common amongst electric vehicles and the solution is often dependant on a software update patch.
On the negative side, the recalled Fisker Ocean models entered a fail-safe mode unexpectedly, which caused the vehicles to lose power and halt driving, this experience can be troubling for customers who were in direct experience of these events taking place.
These reports coincide with many online reviewers' statements including that of MKBHD stating multiple times just how many things were faulty in his test review vehicle, one how which he didn't rely directly on the company due to refusals, instead he relied on a dealership model.
Fisker is currently attempting to fix the recall models with over-the-air updates and to somehow survive this difficult time for the company.
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