Bankrupt Fisker receives permission to sell electric cars — the cheapest one was estimated at $2,500

The court approved the sale of cars for Fisker — the electric car manufacturer that recently filed for bankruptcy.

According to BloombergIn total, 3,300 Fisker cars will be sold to the car rental company American Lease LLC for a total of $46.25 million. Electric vehicles in «good working condition» were valued at $16,500, while damaged vehicles were valued at $2,500 (note that the price of the new Fisker Ocean flagship last year reached $70,000 and some customers did buy it).

This deal marks a symbolic end for the electric vehicle manufacturer, which advertised its vehicles as «the future of clean mobility» but then experienced production and delivery delays that prevented the rollout of its flagship SUV and ultimately led to a bankruptcy filing.

According to the proposed agreement with American Lease LLC, Fisker is not obliged to honor the repair or maintenance warranty (there is no information on how and if current Fisker owners will be serviced).

Fisker will also make available to American Lease «all relevant source code or other operational elements of the software, as well as existing developments that may be required to make the» car operational.

• The Ocean electric car, which entered the market last year (sales started on June 23, 2023), has drawn a lot of criticism from owners. Users reported a number of software and mechanical problems. The company itself had problems with customer service and even money tracking. In the end, Fisker was able to sell only a few thousand cars. They were assembled by a contract manufacturer, Magna.
• Fisker tried to stay afloat with several rounds of layoffs and other cost-cutting measures. The company also changed its business model. At the beginning of the year, Fisker abandoned direct-to-customer sales — a system popularized by Tesla — and instead tried to cooperate with well-known dealers. In the end, the efforts were not enough to save the company.