The bankruptcy filing by U.S. electric vehicle maker Fisker comes after failed deal talks with a major automaker, resulting in the company facing the consequences of a rapid cash burn to deliver its ‘Ocean’ SUVs in the U.S. and Europe. Fisker Group Inc, a subsidiary of the company, sought Chapter 11 bankruptcy protection, citing estimated assets between $500 million to $1 billion and liabilities ranging from $100 million to $500 million. The bankruptcy filing by U.S. electric vehicle maker Fisker comes after failed deal talks with a major automaker, resulting in the company facing the consequences of a rapid cash burn to deliver its ‘Ocean’ SUVs in the U.S. and Europe. Fisker Group Inc, a subsidiary of the company, sought Chapter 11 bankruptcy protection, citing estimated assets between $500 million to $1 billion and liabilities ranging from $100 million to $500 million. Economic Times
Headlines
