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EV maker Fisker says it may go out of business

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#62
voyager said:
I thought that bankruptcy frees an OEM of its obligation to ensure spare parts for another decade.
Click to expand...
What obligation? In what country does such an obligation exist? If it's the US, can you cite the source?

Automakers selling/leasing in the US are only obligated to provide warranty and recall repairs. After that, tough. Worst case is they can buyback vehicles they can't fix.

If they go bankrupt and/or out of business, that can throw a wrench into warranty and recall obligations...
 
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#64
voyager said:
That was mentioned in the youtube video.
Click to expand...
Didn't watch.

There isn't any for the US. I've had to go over this many times (at least once here and numerous times in other places): Gen2 Wall Connector Failed - Cannot Repair or Replace. Gen2 Wall Connector Failed - Cannot Repair or Replace has a dead link but you can see a copy at Motor Vehicle Defects and Safety Recalls: What Every Vehicle Owner Should Know | Safercar.gov | NHTSA (search it for limitations).

I went over it at First time EV buyer/parts availability question again.

As for buyback, this is going on now with 30 kWh Leafs: The battery replacement/buyback thread..

Basically, 30 kWh packs that fail or hit 4 capacity bar loss within the 8 year/100K mile (whichever comes first) warranty were being replaced by 40 kWh packs (https://static.nhtsa.gov/odi/tsbs/2020/MC-10171230-0001.pdf) as 30 kWh packs were discontinued by Jan 2020. Nissan was doing that for years until they decided to usually (always?) balk on that and are often (always?) offering buybacks: The battery replacement/buyback thread..

The below is another example of buybacks. I'm guessing some people got fired over this:
www.latimes.com

Nissan to Buy Back 33,000 Defective Minivans : Autos: All owners will receive up to $7,000. The action on the fire-prone vehicle could cost more than $200 million.

After four recalls of its 1987-90 minivans failed to fix defects that could cause engine fires, Nissan Motor Corp.
www.latimes.com www.latimes.com
 
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#65
As Fisker became inundated with customer service requests, the employees found themselves struggling to provide the right replacement parts thanks to the lack of a service stockpile. In an attempt to alleviate this, Fisker started “pinching” parts from Magna’s production line in Austria, multiple employees told TechCrunch.

But even that wasn’t enough, since those parts would still have to make it all the way to the U.S. before Fisker could fix some of the affected cars. So the company started cannibalizing cars that had been returned, or ones that the company had on hand for marketing purposes, according to multiple employees. In a few desperate moments, according to two employees, Fisker had Magna employees bring parts to the U.S. in their luggage so that the company could service customer cars.

techcrunch.com

Inside EV startup Fisker’s collapse: how the company crumbled under its founders' whims | TechCrunch

Insiders tell TechCrunch the story of how the flashy EV startup went from making big promises to struggling to survive.
techcrunch.com techcrunch.com
 
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#68
These vehicles aren’t worth a cent. They are unrepairable, uninsurable, unfinished, and not worth the metal they’re built with.

The note holder is trying to extract cash from anyone. This was a complete disaster of epic proportions and it’s all Henrick’s fault. He grifted the shareholders the moment they SPAC’d. Tales of mass-incompetency and waste are all over YouTube.

The note holder contract was theft from shareholders to ensure no one but the note holder got any money out of what was left. No bailout was possible due to its terms.

It had great potential, but,this company didn’t just run out of money. It was pissed away and any chance of survival was signed away.
 
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#70
oldsport said:
fisker was supposed to be cool like tesla but just the exact opposite happened... profitability unattainable... zero fans... zero fun...
Click to expand...
I was watching a few YTer’s content from the Q4 results to ultimate bankruptcy. It was sad to see some cling to hope, invest even more money by doubling down, etc. It was a lesson in the seven steps of grieving (or whatever it’s called).
 
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#72
"... While Fisker has not named the company, Reuters had reported that Japanese automaker Nissan was in advanced talks to invest in the startup."

www.bangkokpost.com

EV startup files for bankruptcy

BENGALURU - American electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday as deal talks with a big automaker collapsed, exposing the startup to the fallout of a rapid cash burn to deliver its
www.bangkokpost.com www.bangkokpost.com
 
#77
www.autoblog.com

As Fisker heads toward liquidation, creditors fight over assets - Autoblog

A Fisker attorney told a bankruptcy judge that the company planned to liquidate its assets, and it has reached a tentative deal with a single buyer for all of its 4,300 vehicles.
www.autoblog.com www.autoblog.com
"Fisker's attorney Brian Resnick said at the hearing in Wilmington the company does "not currently anticipate being able to obtain financing."

Resnick told U.S. Bankruptcy Judge Thomas Horan that the company planned to liquidate its assets, and it has reached a tentative deal with a single buyer for all of its 4,300 vehicles..."
 
#78
#79
voyager said:
Some Ocean owners are taking matters into their own hands by forming the Fisker Owners Association, which launched on Thursday.
The nonprofit's mission: "To connect and empower Fisker Ocean owners worldwide, building a community that helps owners navigate
present-day challenges and advocates for the long-term viability of our vehicles."

Click to expand...
I foresee a LOT of issues with that but we will see. For example the MKV Supra STILL hasn’t had an unlock for the DME that is offered state side, you have to send the DME to Finland. That was with a multitude of professional tuners and companies attempting to hack the DME over the span of 2021 forward. There will NOT be the same kind of support for the ocean as that when it comes to looking at unlocks so unless it’s lucky and the ecu isn’t heavily encrypted I def see issues
 
#80
Oddly enough, their website is still very much up and running (at least for Canada) and still extolling the merits of the Ocean and offering options to sell via inventory or new vehicle configurations, without any mention that I was able to see that the company intends to liquidate everything.

www.fiskerinc.com

Fisker Ocean | Fisker Inc.

Learn more about the Fisker Ocean. Starting at $45,999 CAD.
www.fiskerinc.com

Maybe the website just has not caught up with reality yet.
 
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