Challenges Intensify for Fisker Amid Ocean Manufacturing and Financial Woes

Fisker has encountered a series of challenges recently, marked by production and financial difficulties that may significantly impact the automaker's operations Despite setting a positive performance benchmark in lower temperatures against competitors like the Kia EV6 and Tesla Model Y RWD, the production of their Fisker Ocean model is in jeopardy Contract manufacturer Magna International has revealed its reservations about continuing the manufacturing of the Ocean model, stating during an earnings call that they foresee no further production of the Ocean model due to poor sales projections and potential parts shortages following their decision to cease its manufacturing. Amid these manufacturing concerns, Fisker is also grappling with potential layoffs and the specter of bankruptcy Adding to their woes, a lawsuit from German engineering firm Bertrandt AG, seeking $13 million over disputes related to the Fisker Pear project, underscores the depth of financial and operational challenges facing the company.