Fisker Group Inc. Files for Chapter 11 Bankruptcy

Assets and Liabilities Listed in Delaware Filing

Impact of Bankruptcy on the Automotive Industry

[City, State] - June 18, 2024 - Fisker Group Inc., the electric vehicle manufacturer founded by famed designer Henrik Fisker, has filed for Chapter 11 bankruptcy protection in Delaware. The filing outlines the company's estimated assets and liabilities, shedding light on its financial situation.

The move comes as a setback for Fisker, which had been struggling to ramp up production of its electric vehicles. The company's closely watched Ocean SUV was supposed to start shipping this year, but persistent supply chain issues have delayed its launch.

The bankruptcy filing is expected to have significant implications for the automotive industry. Fisker was seen as a potential player in the growing electric vehicle market, and its failure could raise concerns about the viability of other EV startups. It is also a blow to Fisker himself, who had been hoping to make a comeback after the failure of his previous electric car company, Fisker Automotive.

The Delaware bankruptcy court will now oversee the company's reorganization process. It is unclear at this time how long the bankruptcy process will take or what the ultimate outcome will be for Fisker.