TECH - Troubled EV Startup Fisker Files For Bankruptcy Joining Lordstown And Arrival: Elon Musk Says 'Default State Of A Car Company Is Dead' | Benzinga
California-based Fisker Inc. on Monday filed for bankruptcy protection, joining the long list of EV makers to bite the dust including Arrival SA and Lordstown Motors.
What Happened: Fisker filed for Chapter 11 bankruptcy and listed estimated assets in the range of $500 million to $1 billion and liabilities in the $100 million to $500 million range.
California-based Fisker warned in February that it may not have enough funds to operate over the year. The company’s shares were delisted from the New York Stock Exchange the following month owing to low share prices and potential investment talks with a major automaker collapsed, leaving Fisker's financial future uncertain.
In April, the company said in a filing that it expects to seek protection under bankruptcy laws within 30 days if ...