Fisker filed for bankruptcy protection due to weakened demand, fundraising challenges, and operational issues in the competitive EV market, struggling to secure investments from automakers like Nissan.
The bankruptcy filing in Delaware revealed Fisker Group Inc.'s assets of $500 million to $1 billion against liabilities of $100 million to $500 million, with major creditors including Adobe, Google, and SAP.
Fisker, whose previous venture went bankrupt in 2013, went public in late 2020, valuing the company at $2.9 billion through a merger, after facing setbacks from the financial crisis and a Karma sedan battery failure.
The collapse of talks with Nissan caused Fisker to miss out on $350 million in funding needed for operations, indicating challenges faced by EV companies in a turbulent market.
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