EV startup Fisker files for bankruptcy, aims to sell assets ...Middle East

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EV startup Fisker files for bankruptcy, aims to sell assets
source : NY Times News ( Middle East ) () 49
U.S. electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday, looking to sell its assets and restructure its debt, after succumbing to rapid cash burn to deliver its “Ocean” SUVs in the United States and Europe. EV makers such as Proterra, Lordstown and Electric Last Mile Solutions have also gone bankrupt in the past two years due to depleting cash reserves, fundraising hurdles and challenges in ramping up production due to global supply chain issues. Fisker’s cars were also under investigation by U.S. regulators. The company, founded by automotive designer Henrik Fisker, had flagged doubts about its ability to remain in business in February and a month later, i

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