In a desperate move to clear the inventory, Fisker cut the Ocean prices by up to 40%. However, the startup is experiencing the equivalent of a bank run, as everyone wants to distance itself from the ailing startup. The latest to do so was Tesla, which announced suspending all Fisker Ocean trade-ins effective immediately.
Fisker is probably living its last moments, with bankruptcy all but guaranteed unless some earth-shattering miracle happens. The EV startup has failed to sell half of the vehicles it produced in 2023 and is now desperately grasping for a lifeline. However, in adverse market conditions and with no real assets to sell, Fisker is going down. The worst part is that the real losers will not be Henry Fisker or the investors in the company but people who trusted them and bought an Ocean SUV.
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