Electric vehicle maker Fisker has filed for Chapter 11 bankruptcy protection, becoming the second electric startup to do so in the last year. The company cited various market and macroeconomic challenges that have impacted its ability to operate efficiently. Fisker Group Inc. estimated its assets to be between $500 million and $1 billion, with liabilities ranging from $100 million to $500 million and between 200 and 999 creditors.
Fisker, founded by designer Henrik Fisker, is known for its 2022 Ocean all-electric SUV and the luxury plug-in hybrid Karma launched in 2011. The company, based in Manhattan Beach, California, aimed to compete with industry leaders like Tesla and traditional automakers in Detroit.
