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Fisker recalls Ocean SUV before files for bankruptcy

fisker ocean 01

Fisker may not be widely recognized by the younger generation today, but the company is among the earliest electric vehicle (EV) manufacturers alongside Tesla.

However, recently, Fisker has filed for bankruptcy through Chapter 11 protection. This makes them the second EV company to do so after Lordstown Motors.

This news comes less than two weeks after Fisker issued a recall for nearly all 6,864 units of its Ocean SUV, related to an issue with the Motor Control Unit (MCU).

“Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently,” Fisker wrote in a statement.

“After evaluating all options for our business, we determined that proceeding with a sale of our assets under Chapter 11 is the most viable path forward for the company.”

According to Fisker’s statement, the previously announced cessation of production operations will continue until further notice.

The company hopes to resume operations on a smaller scale, including paying employee salaries and benefits, maintaining some customer programs while selling assets, and restructuring debts.

Fisker was launched in Manhattan Beach, California in 2016 by automotive designer Henrik Fisker, who has since become the company’s chairman and CEO.

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