Beleaguered EV maker Fisker is facing a significant setback as more than 40,000 customers have reportedly canceled their vehicle reservations. This development comes at a time when the company is grappling with financial challenges and a potential bankruptcy filing.
What Happened: The cancellation of reservations for the Fisker Ocean, the company’s flagship electric vehicle, has surpassed 40,000, as per internal company metrics obtained by Business Insider. This figure represents a significant portion of the over 70,000 reservations made since the company began accepting pre-orders in November 2019.
The cancellation rate has been averaging around 70 to 80 per day, the report said. The cancellations also add to the company’s costs, with each reservation costing $250, refundable except for a $25 processing fee. This would take ...