Fisker Slashes EV Prices To Avoid Potential Bankruptcy

(RTTNews) - Electric vehicle startup, Fisker reduced the prices of some of its vehicles to avoid a potential bankruptcy, prompted by a terminated deal with an anonymous automaker.

According to email alerts sent to several media outlets, the automaker will slash the prices of Ocean Extreme, Ultra, and Sport trims by over 30 percent, in order to position the vehicles as "a more affordable and compelling EV choice competitively available to EV buyers in the broadest possible market, and constantly improving via frequent Over-the-air or OTA software updates."

Fisker lowered the price of 2023 models of Ocean Extreme from $61,499 to $37,499, Ultra trim from $52,999 to $34,999, and Sport from $38,999 to $24,999.

The California-based company further added that some of its Ocean vehicles have additional offers worth $7,000 which are included in the discounted prices.

The price reduction decision comes a few days after the New York Stock Exchange delisted Fisker's shares, stating that the "stock is no longer suitable for listing based on abnormally low price levels."

Fisker has been forced to consider strategic alternatives such as repurchases, redemptions, potential sale of assets and businesses, court restructurings, and potential issuance of equity securities, since the negotiations, regarding joint development of electric vehicles and North America manufacturing, with an unnamed automaker fell through on March 22.

If Fisker files for bankruptcy, then it would be the second startup by CEO Henrik Fisker to fail after Fisker Automotive, which filed for bankruptcy in 2013.