Fisker Seeks Approval to Dump Remaining EVs for $14,000 Each

Fisker has requested a bankruptcy judge to approve the sale of more than 3,000 Ocean electric crossovers from its inventory to a vehicle-leasing company at approximately $14,000 US per car.

Following the judge’s approval, Fisker plans to sell 3,321 electric vehicles to American Lease, a New York-based firm, for $46.25 million, according to a court filing on Tuesday, reports Automotive News.

The electric vehicle startup, which filed for Chapter 11 bankruptcy last month, encountered logistical challenges in selling its Ocean electric crossovers.

Earlier this year, Fisker shifted to a dealer-partner model after exhausting substantial cash reserves. Initially, some variants of the Ocean were priced around $70,000, but amid its financial struggles, the company reduced the price of its cheapest variant to about $25,000 to generate capital for debt obligations.

On May 30, just weeks before Fisker filed for bankruptcy protection, American Lease had agreed to purchase 2,100 Ocean EVs. A month later, the offer was extended to include all 3,321 Oceans available for sale. American Lease, which provides vehicles to rideshare drivers in New York City, is responding to the city’s mandate that rideshare fleets transition to zero-emission or wheelchair-accessible vehicles by 2030.

I can’t imagine owning a Fisker EV right about now. What’s going to happen to the after sales service and support once the company goes the way of the dodo bird? Numerous Fisker EV owners on Reddit are perplexed about next steps now that the company has filed for bankruptcy.