Electric Car Company Fisker Files For Bankruptcy As EV Market Continues To Collapse
The emblem of a Fisker Karma electric car is seen at the US car maker's booth during the 83rd Geneva Motor Show on March 6, 2013. The European crisis hovered like a dark cloud over the Geneva International Motor Show, but there was no lack of new luxury cars shining on the showroom floor. McLaren, Ferrari and Lamborghini all unveiled so-called supercars to be sold for between one to three million euros ($1.3 - $3.9 million). AFP PHOTO / FABRICE COFFRINI

Fisker announced this week that it has filed for bankruptcy as the electric vehicle market continues to collapse amid low demand for the costly vehicles and various other concerns about electric cars.

The company has struggled for a long time and had to stop production of its vehicles earlier this year to raise hundreds of millions of dollars that it needed to stay alive. The company later announced that it had “substantial doubt about Fisker’s ability to” stay in business.

Fisker said in a statement on Tuesday that it has filed for Chapter 11 bankruptcy and is already in “advanced discussions with financial stakeholders regarding debtor-in-possession financing and the sale of its assets.”

A spokesperson for the company claimed: “Fisker has made incredible progress since our founding, bringing the Ocean SUV to market twice as fast as expected in the auto industry and making good on our promises to deliver the most sustainable vehicle in the world.”

“We are proud of our achievements, and we have put thousands of Fisker Ocean SUVs in customers’ hands in both North American and Europe,” the spokesperson added. “But like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently. After evaluating all options for our business, we determined that proceeding with a sale of our assets under Chapter 11 is the most viable path forward for the company.”

The company’s struggles comes despite the Biden administration’s efforts to destroy the gas-powered car industry by implementing the most extreme pollution restrictions in history on automakers.


Numerous companies have been forced to scrap their plans to build electric cars, cancel their plans to go all electric, or have had to file for bankruptcy. An executive of another EVs company was recently sentenced to federal prison for lying to investors about the abilities of his company.

Consumers regularly have complained about the high prices of electric vehicles, their quality and reliability, the lack of charging stations, the time it takes to charge them, how inconvenient they can be, and their significantly decreased performance during cold weather conditions.

Create a free account to join the conversation!

Already have an account?

Log in

Got a tip worth investigating?

Your information could be the missing piece to an important story. Submit your tip today and make a difference.

Submit Tip
Download Daily Wire Plus

Don't miss anything

Download our App

Stay up-to-date on the latest
news, podcasts, and more.

Download on the app storeGet it on Google Play
The Daily Wire   >  Read   >  Electric Car Company Fisker Files For Bankruptcy As EV Market Continues To Collapse