Fisker Addresses Bankruptcy Rumors
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
