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Fisker seeks judge's approval to sell Ocean EVs at $14,000 per SUV
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Fisker seeks judge's approval to sell Ocean EVs at $14,000 per SUV
Jul 3, 2024 8:10 AM

July 3 (Reuters) - Fisker ( FSRNQ ) has asked a bankruptcy judge

overseeing its Chapter 11 proceedings to approve the sale of

more than 3,000 Ocean electric SUVs in its inventory for about

$14,000 per car to a vehicle-leasing company.

Following the judge's nod, Fisker ( FSRNQ ) will be able to offload

3,321 electric vehicles to New York-based American Lease for

$46.25 million, according to a court filing on Tuesday.

The EV startup, which filed for bankruptcy protection last

month, faced logistics issues while selling its Ocean electric

SUVs and pivoted to a dealer-partner model earlier this year

after burning through a large amount of cash.

Some variants of its Ocean SUV were priced at around $70,000

and through its descent into bankruptcy, it cut prices of the

cheapest variant to about $25,000 to raise capital to meet debt

obligations.

On May 30, two weeks before Fisker ( FSRNQ ) filed for Chapter 11

bankruptcy protection, American Lease agreed to buy 2,100 Ocean

EVs and a month later increased that offer to buy all 3,321

Oceans that were ready for sale.

American Lease serves ride share drivers in and around New

York City, providing a fleet of cars on lease or rent. New York

City last year mandated the transition of the city's rideshare

fleet to either zero-emission vehicles or wheelchair accessible

vehicles by 2030.

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