Fisker Ocean... ?

[CyberShy]

Sometimes nobody buys anything. They get it for pennies on the dollar.
Tooling gets scrapped. IP never used or absorbed.

Fisher’s name is already associated with failure. If it happens again, who’s going to give. Henrik a third chance?

Foxconn will not save them. They didn’t save Lordstown. In fact, Foxconn hasn’t done ANything with the Lordstown factory that I have been able to find.

This is sad, but joy surprising.

 

[Yelobird]

sounds like bankruptcy then who buys the assets?
who needs the name? dont think the name has any value and the reviews online of the Ocean were not amazing
sorry to say, I think its another one to die, imagine someone that just bought one....wow, sol

A 2nd 3rd Fisker bankruptcy isn’t a surprise.

 

[pipestem]

Rich people keep learning that starting a car company, or an airline, or a spaceship, is really really risky. It’s a halo legacy thing. 1 in a hundred.

 

[pipestem]

The car does look cool.

 

[KJD]

March 1 (Reuters) - Nissan (7201.T), opens new tab is in advanced talks to invest in electric vehicle maker Fisker (FSR.N), opens new tab in a deal that could provide the Japanese automaker with access to an electric pickup truck while giving the struggling startup a financial lifeline, according to two people familiar with the negotiations.

https://www.reuters.com/business/au...tent&utm_medium=trueAnthem&utm_source=twitter

 

[pipestem]

https://www.reuters.com/business/au...tent&utm_medium=trueAnthem&utm_source=twitter

Thanks for the a fast report. Nissan-Fisker sounds like some kind of high end eyeglass frame company. Shotgun wedding.

 

[KJD]

Thanks for the a fast report. Nissan-Fisker sounds like some kind of high end eyeglass frame company. Shotgun wedding.

Well when the stock price gets down to 48 cents a share, you better do something pretty dang quick.

 

[kpanda17]

Henrick = Drama

"The Ocean has also been the source of more than 100 complaints filed with the National Highway Traffic Safety Administration, which is investigating the reports. Owners have reported instances of their vehicles suddenly losing power and seeing their SUV’s front hood flying up at high speeds.

Fisker’s founders and board of directors have also been sued by shareholders in federal court in California. The lawsuit alleges that Fisker’s executives failed to disclose material weaknesses in its financial reporting, inaccurate accounting, and delivery limitations. Rather than disclose that information, the lawsuit says, Fisker focused on “positive statements about ramping up the production phase.”

its a *sugar* show, why would anyone buy anything from him....

 

[pipestem]

Damn. Can Nissan fix that?

 

[kpanda17]

Damn. Can Nissan fix that?

push Henrick down to designer, which he was at BMW, clearly dont let him run finance or the company as a whole

 

[Earl]

push Henrick down to designer, which he was at BMW, clearly dont let him run finance or the company as a whole

You nailed it. I know folks who have worked with him. He's a brilliant designer (artist) but arrogant, with no respect for engineers, business people, or pretty much anyone else.
His Karmas burned up because he ignored engineers who told him he couldn't put an engine under a hood that was so low. That would violate the beauty of his design so, unlike when he was at BMW, at Fisher he was in charge and the engineers were 'just contractors' so he overruled them.
One reason we took the crazy step of putting money down on the Tesla Roadster back in '06 was that everyone at Tesla seemed to respect each other. Designers respected engineering and the business. Engineers respected design and the business. Business folks respected engineering and design. They had the right attitudes to make the compromises necessary to make a car.
At the time, everyone else who was trying to make an electric car focused on only one of those key aspects so we couldn't see them succeeding.

 

[CyberShy]

Damn. Can Nissan fix that?

Fisker may need some Fisking... I mean, fixing... with regards to internal structural and operational costs out of control, but the biggest thing they need is money. The lawsuit has to be settled regardless and what outside company would want to get involved?

Does Nissan have 3-5 billion to spend on fixing Fisker's production and delivery issues? They seemed to cease all development on EVs after the Leaf with only half-hearted efforts to make the battery bigger and a refresh that only changed things cosmetically.

I'm hopeful, but skeptical that Nissan will rescue Fisker before they go bankrupt. Why pay top dollar when you can buy at the bankruptcy sale at a huge discount without all the baggage?

 

[SalisburySam]

Why pay top dollar when you can buy at the bankruptcy sale at a huge discount without all the baggage?

Or at all for questionable and likely unneeded “assets.” Fisker in bankruptcy again is yet another unwanted nothingburger, like it was the first couple of times. No unique designs, no radical IP, no magic processes, no…er, anything of value?

 

[Samurai51]

Damn. Can Nissan fix that?

Can Nissan even fix themselves? They're corporate debt has a "junk" rating. And they are the only major car manufacturer in the world right now with that dubious distinction. What would they even want from Fisker? The brand recognition is minimal and from the reviews I've seen there's not really any super-innovative technology with the car. Design? Kinda cool I guess, but it clearly never set off a massive firestorm of demand.

 

[CyberShy]

Since you're talking corporate debt ratings, I found these:
GM: BBB (2019 to 2024)
Ford: Ba1 (junk, as of Nov 2023)
Stellantis: BBB+ (as of July 23, was BB on Dec 2017)
Volkwagen AG: A- (May 2023, was BBB+ in May 2021 back to 2017)
Toyota: A+
Nissan: F3 was F2
BMW: AAA(EXP)sf (maybe)
...then I got bored.