The Rise and Fall of Fisker: A Timeline of an Electric Vehicle Startup's Demise

"The rise and fall of Fisker: A timeline of the EV startup's demise, from production struggles to bankruptcy."
Matilda
The Rise and Fall of Fisker: A Timeline of an Electric Vehicle Startup's Demise
Henrik Fisker, a renowned automotive designer, envisioned an electric vehicle (EV) revolution with his eponymous company. However, the ambitious dream of Fisker Inc. ultimately crumbled under the weight of production hurdles, financial woes, and a series of safety investigations. This timeline chronicles the tumultuous journey of Fisker, from its initial promise to its eventual bankruptcy. Early Promise and Production Challenges 2023: Fisker began production of its flagship vehicle, the Ocean SUV. However, the company quickly encountered production challenges, falling short of its initial Q2 production target. Despite securing $340 million through convertible debt to fund operations and expand production capacity, Fisker was forced to cut its annual production guidance significantly. Mounting Concerns and Internal Turmoil 2024: The year began with a series of setbacks. Fisker struggled to meet internal sales targets, falling far short of its ambitious goals. Safety Investigations: The NHTS…