EV makers Fisker, Lordstown Motors, Proterra, and Electric Last Mile Solutionswent bankrupt.
- Fisker
The California-based startup filed for bankruptcy in June 2024 after losing money on its Ocean SUV line in the US and Canada. The company is seeking to sell its assets and restructure its debt while negotiating with financial stakeholders. Some say the company's setbacks were due to software and design issues, and a video review by YouTuber Marques Brownlee that caused Fisker's stock to drop.https://www.foxbusiness.com/fox-news-auto/ev-maker-files-bankruptcy-after-hemorrhaging-cash#:~:text=Coast to Coast.-,',from the COVID-19 pandemic.
- Lordstown Motors
Filed for bankruptcy along with other EV makers, and a fleet maintenance firm agreed to service its remaining customers.https://www.wired.com/story/fisker-went-bankrupt-what-do-its-ev-owners-do-next/#:~:text=A handful of other electric,will continue to manufacture vehicles.
- Proterra
Filed for bankruptcy along with other EV makers, and has faced fundraising hurdles and operational challenges.https://www.reuters.com/business/autos-transportation/ev-startup-fisker-files-bankruptcy-2024-06-18/#:~:text=The hyper-competitive EV market has seen several,operational challenges from global supply chain issues.&text=The collapse of its talks with the,Reuters had reported to be Nissan (7201.
- Electric Last Mile Solutions
Filed for bankruptcy along with other EV makers, and has faced fundraising hurdles and operational challenges.
- Charge Enterprises
An EV charging station installer that filed for Chapter 11 protection in March 2024.https://news.bloomberglaw.com/bankruptcy-law/troubled-electric-vehicle-maker-fisker-files-for-bankruptcy#:~:text=Fisker's bankruptcy comes as EV,and Electric Last Mile Solutions .
- HiPhi
A luxury EV maker based in China that filed for bankruptcy on August 9, 2024. Its parent company, Human Horizons, is also entering a pre-reorganization phase after filing for bankruptcy.https://www.batterytechonline.com/automotive-mobility/7-battery-ev-companies-that-have-filed-for-bankruptcy#:~:text=Despite significant investment and potential,the battery and EV industries.
Other EV makers, such as Nikola and Faraday Future, remain in business but are trading for less than $1 per share due to operational challenges, missed targets, and broader industry headwinds.
https://www.cnbc.com/2024/06/18/fisker-ev-maker-bankruptcy.html#:~:text=It's the latest in a,targets and broader industry headwinds.
Battery Technology
7 Battery & EV Companies That Have Filed for Bankruptcy
Despite significant investment and potential, these companies had high hopes—but eventually filed for bankruptcy. Jake Hertz. August 20, 2024. 7 Slides. START S...
CNBC
Fisker files for bankruptcy protection in wave of EV startups ... - CNBC
Jun 18, 2024 — It's the latest in a series of EV companies to collapse. Other companies backed by special purpose acquisition companies, or SPAC, have also filed f...
CNN
Electric SUV maker Fisker files for bankruptcy | CNN Business
Jun 18, 2024 — The Ocean was also the subject of a review that month by American YouTuber Marques Brownlee titled, “This is the Worst Car I've Ever Reviewed.” “Do ...
Fortune
China’s EV makers are having more trouble paying their bills and ...
May 19, 2024 — China's EV makers are having more trouble paying their bills and now take 2 to 3 times longer than Tesla does | Fortune.
WIRED
Fisker Went Bankrupt. What Do Its EV Owners Do Next? - WIRED
Jun 30, 2024 — A handful of other electric vehicle makers, including Lordstown Motors, Arrival, and Volta Trucks, have also filed for bankruptcy amid a more-challe...
The New York Times
Fisker Files for Bankruptcy as EV Start-Up's Cash Runs Short
Jun 18, 2024 — That's because the company appears to be entering bankruptcy while still searching for a buyer for its assets and negotiating with financial stakeho...
Reuters
EV startup Fisker files for bankruptcy, aims to sell assets - Reuters
Jun 18, 2024 — The hyper-competitive EV market has seen several companies, including Proterra, Lordstown and Electric Last Mile Solutions, file for bankruptcy in t...
Fox Business
EV maker files for bankruptcy after hemorrhaging cash | Fox Business
Jun 18, 2024 — ' Henrik Fisker is out of gas, again. The automotive designer's California-based electric vehicle startup, Fisker, filed for bankruptcy protection l...
Bloomberg Law News
EV Maker Fisker Files for Bankruptcy After Glitchy SUV Flops (1)
Jun 18, 2024 — Fisker's bankruptcy comes as EV makers struggle to adapt to slowing sales in the US and across much of Europe. Researcher BloombergNEF last week par...
The Guardian
Electric carmaker Fisker files for US bankruptcy protection
Jun 18, 2024 — The US Chapter 11 process applies to the company's operating subsidiary, giving it protection from creditors while it tries to negotiate further.
Electric carmaker Fisker files for US bankruptcy protection
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Nonsense.
"More taxes" is a slogan used by democrats because they can't be responsible with money. Tax and spend is not a solution.