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Fisker bankruptcy plan approved after deal on vehicle tech support

Economic TimesEconomic Times · 1m
Fisker bankruptcy plan approved after deal on vehicle tech support

- Electric vehicle startup Fisker has received court approval of its bankruptcy liquidation plan. - Fisker had to sell its remaining inventory of about 3,000 Ocean SUVs to repay creditors. - Fisker filed for bankruptcy in June after failed partnership negotiations with Nissan for production. - Fisker chose to liquidate operations, selling off its vehicle fleet and transferring its intellectual property to creditors. - A dispute regarding the transfer of data and support services for the vehicle fleet was resolved, with American Lease agreeing to pay an additional $2.5 million for future tech support services. - The EV market has seen other companies filing for bankruptcy due to weakening demand, fundraising hurdles, and operational challenges.

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