This month, Fisker recalled 6864 Ocean SUVs just a few days before late Monday night’s Chapter 11 bankruptcy filing. Fisker immediately recalled the powerless Motor Control Unit. To ensure quality and safety, the organization is carefully creating an over-the-air update system. The statement states that the company is working with people interested in debtor-in-possession loans and selling Fisker assets. After Lordstown Motors, Fisker filed for Chapter 11 bankruptcy on Monday, making it the second company that makes electric cars to do so in the last year. It had only been less than two weeks since Fisker called back most, if not all, of the Ocean SUVs from the 2023 model year because of a problem with the Motor Control Unit (MCU). The Ocean is the only Fisker type that can be bought. In a written statement released on Monday, the company said that, like many others in the electric car business, it has been hit hard by market and financial issues that have made it harder to run its business effectively. We thought about all of our choices and decided that selling our assets under Chapter 11 was the most likely way for the company to move forward. Despite the financial challenges, Fisker is determined to keep running with fewer resources. The company’s plan to sell assets and restructure its debt is a testament to its resilience and commitment to the future of electric cars. In 2016, car designer Henrik Fisker started (or brought back) Fisker in Manhattan Beach, California. Since then, Fisker has become the chairman and CEO of the business. When the company went public in 2020, its stock fell by a low of $1 early this year. This caused the New York Stock Exchange to issue a warning. Fisker cut 15% of its staff in February and said the future of the company looked bleak. After the first round of layoffs, the company needed money badly, so it stopped making the Ocean SUV and cut the price by a large amount. According to Fisker’s Chapter 11 filing, the bankruptcy case does not involve Fisker Inc., other U.S. companies, or businesses in other countries. Fisker told the National Highway Traffic Safety Administration (NHTSA) on June 5, less than two weeks before filing for Chapter 11, that all 2023 Ocean SUVs would be recalled. The Ocean is being recalled because of a software problem in the MCU and the Vehicle Control Unit (VCU). This problem could cause OceanOcean to go into fail-safe mode and lose power to the drives without warning. Based on records from the recall, it is believed that all recall participants, or 100%, have MCU and VCU software that needs to be fixed. If, when the car is stopped, it goes from Drive to Neutral to Park on its own, you will need to power-cycle the car to solve the problem. To fix the problem, the maker will send an over-the-air update to both the MCU and the VCU.
