What?
Fisker is aiming to sell off its remaining Ocean SUVs in a bulk deal that could bring in $46.25 million in funds to settle its debts. The deal involves selling up to 3,231 Ocean SUVs to American Lease, a firm in New York that leases EVs to ride-hailing drivers. This move comes as part of Fisker’s Chapter 11 bankruptcy protection filing, revealing insights into the future support for existing Fisker car owners.
Why does it matter?
The sale of Ocean SUVs at significantly discounted prices ranging from $2,500 to $16,500 each sheds light on Fisker’s financial struggles and the challenges it faces in ensuring long-term support for its vehicles. American Lease’s interest in acquiring the Oceans is fueled by a new regulation mandating all New York ride-hailing vehicles to be electric by 2030. This bulk deal presents a lifeline for Fisker to address its financial woes while providing an opportunity for the Ocean EVs to remain on the road under new ownership.
How is it going to shape the future?
The proposed deal raises concerns about the future of Fisker’s warranty support, maintenance, and software updates for existing Ocean owners. With Fisker unable to honor warranties or provide post-sale support, American Lease may need to rely on salvaging parts from damaged vehicles and creating its own software updates. The agreement highlights the challenges faced by EV manufacturers in ensuring ongoing support for their vehicles post-bankruptcy, leaving current Ocean owners uncertain about the future of their cars.
