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Fisker on Monday became the latest all-electric vehicle startup to file for Chapter 11 bankruptcy protection amid lackluster consumer demand, significant cash burn and operational and product issues.
But it will not pay anything to shareholders wiped out investing in the defunct Southern California electric-vehicle maker. Judge approves Fisker bankruptcy plan favored by car owners Skip to main ...
The 7-year-old electric car company was founded by designer Henrik Fisker, who has been its chairman and CEO. He designed the company's 2022 Ocean all electric SUV as well as the luxury plug-in ...
The next month, a bankruptcy judge cleared the sale of its remaining Oceans to New York leasing company American Leasing for $46.25 million or approximately $14,000 each. [ 57 ] [ 58 ] By August, the U.S. Bankruptcy Court in Delaware reached an agreement to postpone Chapter 7 Conversion while Fisker continues to liquidate their assets.
VLF Automotive is a small American-based automotive company formed in January 2016. It was founded as VL Automotive in 2012 by Bob Lutz and Gilbert Villarreal, then renamed after Henrik Fisker joined the company. GreenTech Automotive merged with VL Automotive in 2014. GreenTech produced few cars, if any. It declared bankruptcy in February 2018.
The electric car was released in March 2012, [10] and initially was available only in California. [11] [12] After low initial sales of the Coda Car, Coda Automotive terminated 15% of its workforce, [13] and entered a period of financial difficulty. [14] [15] By May 2013, Coda was seeking bankruptcy protection. [16]
Fisker filed for bankruptcy Monday, choosing the common Chapter 11 route, which allows companies to try to resolve their financial problems through reorganization.
Proterra, a California-based electric bus maker that counts CapMetro among its customers, announced it will seek Chapter 11 bankruptcy protections.
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