Automaker Henrik Fisker Is Running Out of Road, Again
Without a wealthy benefactor, the California-based company may struggle to keep the lights on.
Fisker CEO Henrik Fisker with the all-electric off-road Ocean called the Force E.
Photographer: Frederic J. Brown/AFP/Getty Images
Henrik Fisker should pray lightning doesn’t strike twice. The Danish-American entrepreneur’s first car company, Fisker Automotive Inc., filed for bankruptcy a decade ago. Now his second attempt, Fisker Inc., is warning of a cash crunch that threatens its ability to remain a going concern.
Salvation lies in convincing a better-capitalized automaker to provide financial and operational support to his loss-making startup. This won’t be easy at a time when many carmakers are tapping the brakes on their EV plans due to high interest rates and weak demand, and when Fisker’s sales model and accounting are in disarray. But without a wealthy benefactor, the California-based company risks running out of road.