Fisker files bankruptcy equivalent in Austria amid production halt [Video]

It has been a turbulent couple of months since Fisker Inc. posted its Q4 2023 financial report and relayed concerns it could continue business in EVs. Fisker’s Austrian arm has reportedly filed for reorganization and court protection from creditors – the equivalent to Chapter 11 Bankruptcy in the US.

Today’s news is merely the latest chapter in a rough saga for Fisker Inc., the American EV startup hanging by a financial thread in its second attempt to mass-produce passenger EVs. The potential bankruptcy news is not all that shocking, as Fisker has been slowly sinking toward this point for over a year now.

Although Fisker successfully launched its flagship Ocean SUV, it was quickly hit with several software issues and lower-than-anticipated sales. As a result, the automaker lowered its production targets several times throughout 2023 while pulling any demand levers to maintain liquidity.

This past March, Fisker’s 2023 numbers painted a grim image of “substantial doubt” it could continue… at least …