Prosecutors eyed Hunter Biden getting a 2009 snazzy Fisker's sports car as his then-VP father announced $350 million tax dollars would go to the Delaware company. Fisker's went bankrupt not long after getting the money.
Posted on 06/18/2024 5:11:09 AM PDT by T.B. Yoits
Fisker Group Inc., the EV startup founded by famed designer Henrik Fisker, filed for Chapter 11 bankruptcy protection — a capstone to months of problems with its Ocean SUV that included recalls and dozens of lemon law lawsuits.
The California-based company, which filed for bankruptcy in Delaware District Court, had been seeking a deal with another automaker in a last-ditch effort to rescue the enterprise. The company estimated assets of $500 to $1 billion and liabilities of between $100 million and $500 million, according to the filing.
Fisker reported between 200 and 999 creditors, including SAP, Adobe, Salesforce and Ansys, according to the court document that was filed late Monday. The filing comes just a year after Fisker delivered its all-electric vehicle, the Ocean SUV, to customers.
The much-hyped EV was troubled from the start, with customers reporting an array of software and mechanical problems shortly after taking delivery. Internally, the company struggled to stand up sufficient customer service and maintenance efforts, and even had trouble keeping track of its money, according TechCrunch’s previous reporting.
Fisker attempted to preserve cash in the last few months through several rounds of layoffs and other cost-cutting measures. It also changed its business model. Earlier this year, Fisker shifted away from selling directly to customers — a system Tesla has popularized — and instead tried to partner with established dealers. Ultimately, the efforts weren’t enough to save the company from bankruptcy.
This is the second vehicle company Henrik Fisker named after himself that has wound up in bankruptcy. His first effort, Fisker Automotive, was started in 2007 and filed for bankruptcy protection in 2013. That company similarly got its vehicle — a hybrid electric sports car — into production on the road before running into quality problems and other external factors that proved fatal.
(Excerpt) Read more at techcrunch.com ...
Hunter’s “free” Fisker:
“Hunter Biden’s Foreign Benefactors Lavished Him With Ultra-Luxury Watch for His Birthday, $140,000 Sports Car, and Three-Carat Diamond in Addition to Millions of Dollars”
Did Hunter ever pay any taxes on all this “free” money?
S-i-l-l-y.......Hunter’s a Biden. US laws do not apply to him.
A few of my coworkers have these. Sucks to be them.
the only thing I can say is that they were good looking cars and trucks.
unfortunately worthless now.
“Wave of the future”
They weren't even paying the bills for their software licenses.
Darn it, I was about to buy a Fisker electric car.
Now I guess I will buy a Rivian....
I read Miranda Devine’s “Laptop from Hell.”
While I’m certain of passages I read that detail the Biden’s dirty fingers in Fisker, the damn book doesn’t have an index to detail their corruption.
These people will not allow Trump X47.
Prosecutors eyed Hunter Biden getting a 2009 snazzy Fisker's sports car as his then-VP father announced $350 million tax dollars would go to the Delaware company. Fisker's went bankrupt not long after getting the money.
The EV bubble is bursting....there is a glut of EVs on the market, and sales continue to decline. And China is just coming on the market. Not difficult to foresee many more bankruptcies on the horizon. So what are they going to do with all the vehicles from non-existent manufacturers from whom owners can’t get parts? What will they do with the unsold stock that no one wants because you can’t get parts for them and because there is no resale market? Should the taxpayers bail out this industry?
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