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Old 06-18-2024, 12:02 PM
 
Location: On the Chesapeake
46,026 posts, read 61,545,909 times
Reputation: 61923

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EV manufacturer files for bankruptcy:
https://www.yahoo.com/autos/fisker-f...152300547.html
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Old 06-18-2024, 12:18 PM
Status: "But did it kill you?" (set 25 days ago)
 
Location: Maryland
3,995 posts, read 2,440,406 times
Reputation: 7073
yeah there were so many issues with mismanagement in the company. Henrik as a great designer and has good ideas, just can't build a company around him to make anything work. Thought by having Magna Steyr build the cars that things would be better. But too much infighting and just bad issues with his wife, to survive. This one has nothing to do with being an EV (and it could have been a good one. Everyone I know with an Ocean loves it, and the proposed cheaper cars like the Pear were just what the industry needs).

https://www.autoblog.com/2024/06/12/...otive-startup/

"While Henrik often served as a figurehead, Gupta-Fisker was heavily involved in everyday decisions, including on the engineering side, 11 workers said. Prior to taking on the role of CFO and COO at Fisker, Gupta-Fisker had served as an investment manager for the Fisker family office and as an adviser at a nonprofit. She had no prior experience in the automotive industry. But at Fisker, the workers said she managed deals with Magna and outside parts suppliers, frequently popped into engineering meetings, and weighed in on everything from parts purchases to software decisions.

49-year-old Gupta-Fisker quickly became known in the company for her shrewd cost-cutting abilities. But, her strategy meant that at times Fisker ended up using components that didn't match the correct specifications for the Ocean, five former and current workers said. Gupta-Fisker made several decisions to use cheaper parts against Fisker executive and Magana executives' advice, two workers said. The mismatches led to issues with over-the-air updates, the five workers said."
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Old 06-18-2024, 12:22 PM
 
Location: Knoxville, TN
13,009 posts, read 6,833,813 times
Reputation: 24566
Not every genius has business acumen. Many don't.
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Old 06-18-2024, 12:23 PM
 
Location: Newburyport, MA
12,917 posts, read 10,140,277 times
Reputation: 16532
So that's finally official now... the writing has been on the wall for some time. I have seen some Fisker owners projecting that software updates will continue on the Ocean platform as an open source project, but I think that's highly optimistic. Open source efforts require a lot of labor hours from highly skilled programmers and you'll want at least one architect, and of course you'd need to test new releases on the vehicle as your deployment system too. Marshalling these resources and paying for them in some way won't be easy. They never sold many of these cars in the first place (~5000 I think), which won't help either.

There were people on this forum encouraging members to buy a Fisker Ocean as the company was going down the tubes; I hope no one took that advice.

Last edited by OutdoorLover; 06-18-2024 at 12:33 PM..
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Old 06-18-2024, 12:37 PM
 
Location: Newburyport, MA
12,917 posts, read 10,140,277 times
Reputation: 16532
Quote:
Originally Posted by Igor Blevin View Post
Not every genius has business acumen. Many don't.
Now that he's got two auto company bankruptcies to his credit, hopefully people will be a little more skeptical about Henrik Fisker. The man is great at the overall design of personal vehicles, but he's not great at founding and managing tech companies, and the stories that have emerged from employees at Fisker - of the chaos and the dysfunction, were hair-raising.
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Old 06-18-2024, 12:38 PM
Status: "But did it kill you?" (set 25 days ago)
 
Location: Maryland
3,995 posts, read 2,440,406 times
Reputation: 7073
Quote:
Originally Posted by Igor Blevin View Post
Not every genius has business acumen. Many don't.
They don't need business acumen, so long as they surround themselves with intelligent folks who do. Fisker didn't do that, and let his wife mange things with no experience.
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Old 06-18-2024, 01:15 PM
 
Location: Knoxville, TN
13,009 posts, read 6,833,813 times
Reputation: 24566
Quote:
Originally Posted by cvetters63 View Post
They don't need business acumen, so long as they surround themselves with intelligent folks who do. Fisker didn't do that, and let his wife mange things with no experience.
That is true. Some guys with big egos want to do it all themselves. I don't know if that is the case here but smart people do know their limitations and find good people to do what they cannot do.

Some people are arrogant and can't admit they can't do it all.
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Old 06-18-2024, 05:48 PM
 
Location: Capital Region, NY
2,531 posts, read 1,628,763 times
Reputation: 3691
Very tough environment for an EV startup. Sorry they didn’t make it.
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Old 06-18-2024, 06:09 PM
 
Location: Paradise CA, that place on fire
2,066 posts, read 1,793,408 times
Reputation: 6049
I can't find it but I think Jalopnik claimed half of their new cars are sitting unsold. Discounts of $ 15 K are common, especially a used one. What will happen to warranty claims?

I like their looks and if I were younger I'd try to find one around $ 15 K and turn it into a restomod with a 3 liter turbo engine. Smog test ? I don't need no damn smog test.
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Old 06-21-2024, 09:15 AM
 
10,950 posts, read 7,422,250 times
Reputation: 12075
They pretty much had a 50% off sale on the cars the last couple months. All for sale vehicles were taken off their website, last time I checked.

Unfortunately we live in 2024, they look like good cars but need software updates and who knows if that will ever be supported. CUV's and electric cars are looked more as appliances, and don't have the enthusiast base as cars usually do. So unsure if there will be a lot of aftermarket support.
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