(Elbil24): Bankruptcy-threatened Fisker recently decided to pause the production of several cars for six weeks. This as a cost-saving measure to avoid further costs. Now they are taking further steps to sell cars they already have in stock, which was recently stated to be 4,700 cars. There are as many cars as they sold in total in the whole of 2023.
In order to get rid of as many cars as possible, and to bring in as much money as possible, they have now decided to put down the top model Fisker Ocean Extreme with 259,800 kroner (24,000 dollars). This corresponds to close to a 40 percent discount, based on a suggested retail price of $37,499. It is Bloomberg News that has released the news.
Currently, the dumping price cannot be found on the Norwegian websites, nor do we know whether the price dumping will apply in the Norwegian market.
– Like buying a pizza without tomato sauce, because the tomatoes are not fully ripe
Recently it became known that Fisker’s rescue in the form of a production agreement with Nissan came to nothing. Thus, Fisker also did not satisfy the conditions for bringing in fresh capital from an investor of 150 million dollars.
When all this fell to pieces in the last week, the share price plummeted from an already rock-bottom level, and is down close to 85 percent in the last week alone. In the past three months, over 98 percent of the company’s paper values have disappeared, and the stock currently stands at $0.02 – a scant 2 percent of the price it must have to meet the minimum requirements ($1) to be listed on the NYSE.
The result was that earlier this week the NYSE delisted the share from the NYSE, and the shares can now be traded OTC (Over The Counter).
The biggest tire test of the year: two sixes!
It has been completely quiet from Fisker after the turbulence of the last few days. At the quarterly presentation at the beginning of March, the company announced that it had 121 million dollars left in cash, but at this time it had also avoided paying an interest installment on an insanely high debt. In the fourth quarter of 2023 alone – as discussed in the latest quarterly report – the loss was a whopping 460 million dollars. There is therefore much evidence that the costs of simply existing may have eaten up the last remaining equity.
If Fisker is allowed to sell all the cars in stock at a dumping price, this will also come with a cost, because the sale is obviously at a loss. Nevertheless, with this, Henrik Fisker gets much-needed money, money that creditors are certainly scrambling to get their hands on. Fisker recently announced that they have also hired a financial agency to assist in the process.
Now it remains to be seen whether it is possible to keep the ship afloat for much longer, or whether we will soon have to write the case that Fisker Inc is bankrupt.
