Fisker cuts prices by 40% to avoid bankruptcy

Car manufacturer Fisker is trying with all its might to avoid bankruptcy. The company is cutting prices of its all-electric Ocean SUV by almost 40 percent. This is evident from an internal email that the Bloomberg news agency saw.

The price reductions will reportedly apply to all three Ocean models on offer. The most expensive model, the Extreme, will cost $24,000 less, which means a 39 percent reduction to a price of $37,499.

The Sport, the cheapest model, will be $14,000 (minus 36 percent) cheaper and now costs just under $25,000, which is just over 23,000 euros. Fisker also cuts $18,000 from the price of the Ultra, which now costs $34,999 (minus 34 percent)

It is not yet clear whether the price reductions will also apply to the Netherlands. The price reductions have not yet been implemented on Fisker’s website.

Fisker has been hinting at bankruptcy for some time

Fisker has been struggling with problems for some time. The production, which is housed at the Austrian Magna, is suffering from teething problems. These manifest themselves, among other things, in software problems with the delivered cars. In addition, the automaker is unable to get the cars to the customer.

Fisker therefore recently switched to a dealer model that involves collaboration with existing dealer networks in various countries.

In addition, Fisker was in discussions with a larger car manufacturer for a multi-million investment and perhaps even an acquisition. Unfortunately, these talks came to nothing for Fisker, after which it began to give hints that bankruptcy was coming.

Fisker’s stock price then plummeted so much that trading in the company’s shares was halted.

Meanwhile, production of the Ocean is at a standstill and Fisker has missed a first interest payment on loans. According to analysts, it is not a question of whether Fisker will collapse, but when this will happen.

If Fisker also implements the price reductions in the Netherlands, the Ocean may become a nice bargain. Think of prices for the Sport of around 28,000 euros (currently 43,990 euros), for the Ultra around 39,000 euros (currently 58,990 euros) and for the Extreme around 39,000 euros (currently 63,590 euros). But it is an electric car that may not be of any use to you if it has problems. And those problems seem to be a given.