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…
