Fisker’s ride from Tesla competitor to bankruptcy
11:35 am Tuesday, June 18th, 2024
(Reuters) – Fisker filed for bankruptcy protection late on Monday, becoming the latest electric-vehicle startup to collapse after Arrival and Lordstown Motors in a tough market dominated by Tesla and Chinese automakers.
The startup had aimed to compete with Tesla’s best-selling Model Y crossover with its Ocean SUV, but it failed to overcome supply chain issues, a tough funding environment and distribution hurdles that caused rapid cash burn.
Here is the list of events leading up to Fisker’s bankruptcy:
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Devika Syamnath)
