Bankruptcy Avoided as EV Maker Fisker Slashes Prices

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A number of vehicles in the portfolio were recently discounted by Fisker, a California-based business that manufactures electric vehicles. The decision is made in light of the company’s current financial situation and its efforts to stay out of bankruptcy following the breakdown of a possible cooperation with another automaker.

With the release of Fisker’s 2024 Ocean OS software version 2.0, the manufacturer has reduced the suggested retail price for the 2023 Ocean electric SUV series in the US by tens of thousands of dollars.

Fisker reports a price drop from $61,499 to $37,499 for the 2023 Ocean Extreme trim. In 2023, the Ultra trim will cost $34,999 (down from $52,999) while the Sport will cost $24,999 (down from $38,999). The carmaker made the announcement on Wednesday.


At the Mobile World Congress (MWC) in Barcelona, Spain on March 3, 2022, the Fisker Ocean, an all-electric SUV, was introduced by the American carmaker Fisker. An report from March 2022 on Fox News published a snapshot of the vehicle that was on display at the expo, which was the newest addition to their lineup.

According to CARFAX, there are over 3.7 million cars currently on the road that have been recalled due to the “park outside” issue.

According to the company, certain Ocean vehicles will now have discounted prices starting on Friday, with up to $7,000 worth of extra options included.

According to Fisker’s statement, the company is concentrating on making the all-electric Ocean SUV more accessible and affordable for EV buyers in as many markets as possible. Regular Over-the-air (OTA) software updates are also part of their plan to make the SUV better over time.

Regardless, industry insiders foresee the company’s demise in the bankruptcy process.

Thomas Hayes, who heads the hedge fund Great Hill Capital, thinks it is sad to see businesses fail, particularly in the EV sector. He foresees a future when more businesses will meet this fate. Whether consumers want EVs for real or if they are enticed to Tesla because of its branding, lifestyle, and ideology is an open question, as Hayes pointed out. He stressed that a commodity product is different from a brand like Tesla, which has become synonymous with quality and innovation.

A small number of large incumbent ICE and OEM manufacturers, such as Tesla, will survive the electric vehicle (EV) market’s inevitable evolution, the speaker claims. For original equipment manufacturers (OEMs) that are required or encouraged by law to manufacture electric vehicles, this will be the reality. A good illustration of this is General Motors.

This declaration came soon after the New York Stock Exchange said it would delist Fisker’s shares because of their “unusually low” prices.

According to a filing with the SEC, the unnamed carmaker that had been in talks with Fisker on March 22nd abruptly halted those talks.

Fisker has since had to weigh its alternatives, which may include reorganization via legal channels or monetary exchanges.

If CEO Henrik Fisker’s car firm Fisker were to file for bankruptcy, it would be the second time it has encountered difficulties. The bankruptcy filing of Fisker Automotive took place in 2013.