Fisker tried to out Tesla Tesla, and now it’s bankrupt
by Andrew J. Hawkins from The Verge - All Posts on (#6NM4K)
Fisker CEO Henrik Fisker. | Photo by Frederic J. Brown / AFP via Getty Images Earlier today, Fisker finally did what has seemed inevitable these past few turbulent months: declared bankruptcy.
Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently," the company said in a statement. After evaluating all options for our business, we determined that proceeding with a sale of our assets under Chapter 11 is the most viable path forward for the company."
For anyone paying close attention, this isn't that surprising. Fisker has been sounding the warning about its dwindling cash stockpile for months. It did all the things you're supposed to do to rein in costs. It laid off over 15 percent of its workforce, s...