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Fisker is nearing bankruptcy, but there might be a light at the end of the long, dark tunnel it's been traveling in for the past few months. Four companies have shown an interest in buying the troubled brand, according to comments made during a meeting by founder Henrik Fisker.
Fisker has had a bumpy few months, to say the least. After the company said it would need to partner with another automaker before it went bankrupt, talks with Nissan fell apart. Then Fisker quickly slashed prices on inventory for a version of the Ocean SUV that may or may not even exist. But there’s still a small glimmer of hope.
Time is a flat circle, much like the drain Henrik Fisker's automotive dreams are swirling for a second time. Embattled EV maker Fisker has paused production and been booted off the New York Stock Exchange as it faces bankruptcy, which it hopes steep price cuts will prevent. How it got here, of course, is reportedly through missteps just as extreme—by allegedly failing to keep track of its money, leading to the misplacement of millions of dollars.
Fisker started deliveries of the electric Ocean SUV late last fall, but that doesn't mean the company is close to profitability. The EV maker is not in the black at the moment: Fisker's loss in the fourth quarter of 2023 totaled $463.6 million, while the company reported revenue of $200.1 million in the same quarter. In all of 2023 Fisker produced 10,193 units of the Ocean while delivering just 4929 of them, falling well short of its initial ambitions of over 20,000 vehicles, while also warning investors that it might not have enough cash to stay afloat through the end of 2024. Last week the Wall Street Journal reported that Fisker had hired restructuring advisors—a report which itself caused its stock value to plummet 50% late in the week. The EV maker, understandably
When Karma Automotive revealed the battery-electric Kaveya coupe in Las Vegas last November, the company mentioned a Gyesera «BEV touring sedan» that would arrive ahead of the Kaveya. Between proclamations and the spec sheet, Karma pitched the Gyesera as a pure electric evolution of the plug-in hybrid Revero, both nameplates essentially highly evolved forms of the original Karma Fisker sedan from 2011. Like the Revero, the Gyesera is a rear-driver, an e-motor on the back axle making 590 horsepower and 690 pound-feet, its 120-kWh batter enabling a range greater than 250 miles, a 0-60 time under 4.2 seconds, and a top speed of about 135 mph. The company used the Amelia Island Concours to debut its first electric car for market consumption, Karma aiming to begin sales at the end of this year or in early 2025.
Last fall, California-based and Chinese-owned Karma Automotive revealed the sleek Kaveya, an electric coupe that will offer up to 1000 horsepower and is due at the end of 2025. The boutique automaker also hinted at future four-door electric car, and now we have the first official look at the Karma Gyesera, which was unveiled over the weekend at the Amelia Island Concours d'Elegance. Although Karma President Marques McCammon told Automotive News that nearly all of the the Gyesera's bodywork is new, the sedan certainly retains much of the shape of the original Fisker Karma, built in 2011 and 2012, which later spawned Karma's first vehicle, the plug-in-hybrid Revero. While the origins of the Gyesera's design may stretch back over a decade, the original Henrik Fisker–penned Karma was a great-looking vehicle and the Gyesera is an
Luxury EV brand Fisker is in financial trouble and Nissan is reportedly in talks to invest USD 400 million (about Rs 3,315 crore) in the company. Fisker recently announced that it has paused the development of its affordable compact EV, the Pear, having made a loss of USD 463.6 million (about Rs 3,840 crore) during the fourth quarter of 2023.
Japanese car giant Nissan is considering a $US400 million ($AU610 million) investment to save US electric-vehicle start-up Fisker from bankruptcy and score itself its first electric ute, overseas reports claim.