Home & Leisure

Fisker had big dreams to compete with Tesla. What went wrong?

Laurence Darmiento, Los Angeles Times on

Published in Automotive News

The company has released prototypes for two other vehicles: a sporty crossover SUV called the PEAR and the Alaska pickup.

Fisker announced in May 2022 it planned to have the PEAR manufactured in a former General Motors plant in Lordstown, Ohio, acquired by iPhone maker Foxconn — but that has yet to come to fruition.

Nissan also was reportedly considering investing $400 million in Fisker and building the Alaska pickup at one of its U.S. plants.

In its regulatory filing Monday, Fisker said it was evaluating various options, including a possible restructuring, refinancing its debt, issuing new stock and selling assets.


On Wednesday, Fisker announced steep price cuts of more than 30% on its entire lineup of 2023 cars.

Industry observers have doubted another major automaker would want to rescue the company given its problems, but Pierce, the Needham & Co. analyst, isn't convinced.

"l live in Northern California," he said. "Pretty much everyone drives an EV. If you believe in the environment, you have kids and you want all these changes, it would be great if there was much more EV adoption. So if there is a $30,000 EV out there that drives adoption, I do hope there is a partner out there and they make it work."

©2024 Los Angeles Times. Visit at Distributed by Tribune Content Agency, LLC.


blog comments powered by Disqus