EV startup Fisker files for bankruptcy, second Henrik Fisker car company to do so

Fisker Group Inc, a US electric vehicle (EV) maker, has filed for Chapter 11 bankruptcy in Delaware following failed deal talks with a major automaker amid financial strain from rapid cash burnout in delivering its Ocean SUV in the US and Europe.\r

The company listed estimated assets of $500 million to $1 billion and liabilities between $100 million and $500 million, with 200-999 creditors. Fisker cited market and macroeconomic challenges impacting operational efficiency in the EV industry, leading to the decision to pursue asset sale under Chapter 11. \r

The company is now seeking debtor-in-possession financing while in advanced discussions with financial stakeholders.