Fisker Inc. was an American electric vehicle company that no longer manufactures cars, having gone through Chapter 11 bankruptcy and liquidation in 2024.
The company was founded by designer Henrik Fisker and built the Fisker Ocean electric SUV, its only production vehicle, before collapsing under financial and quality problems.
Fisker Inc. should not be confused with Karma Automotive, a separate and currently operating company that descends from Henrik Fisker’s earlier venture, Fisker Automotive.
Existing Fisker Ocean owners can still get support today, but the brand itself is no longer producing new vehicles.
So what really happened to Fisker, who owned it, and what remains of the company today? Here is a complete and up to date breakdown of Fisker’s ownership, collapse and current status.
Table of Contents
Who Made Fisker Cars?
Fisker cars were made by Fisker Inc., an American electric vehicle company founded by designer Henrik Fisker, which is no longer an operating manufacturer today.
Fisker Inc. was a publicly traded company on the New York Stock Exchange under the ticker FSR before it was delisted in April 2024.
The company’s only production vehicle was the Fisker Ocean electric SUV, which began customer deliveries in June 2023.
Vehicle assembly for the Ocean was handled by contract manufacturer Magna Steyr in Graz, Austria, rather than at a Fisker owned factory.
| Company Overview | Details |
| Company name | Fisker Inc. |
| Industry | Electric vehicles (formerly) |
| Founded | October 3, 2016 |
| Founder | Henrik Fisker |
| Headquarters | La Jolla / Manhattan Beach, California, United States |
| Former stock ticker | FSR (delisted April 2024) |
| Current status | Bankrupt and liquidated, plan confirmed October 2024 |
| Only production model | Fisker Ocean electric SUV |
| Contract manufacturer | Magna Steyr, Graz, Austria |
| Current operations | None, assets held by liquidating trusts |
Who Founded Fisker Inc.?
Fisker Inc. was founded on October 3, 2016, by Danish automotive designer Henrik Fisker, with his wife Geeta Gupta Fisker serving as president and chief financial officer.
This was actually Henrik Fisker’s second attempt at building an electric vehicle company.
His first venture, Fisker Automotive, launched the original Fisker Karma sedan in 2011 before collapsing into bankruptcy in 2013 after battery supplier A123 Systems failed.
That earlier company’s assets were later purchased by Wanxiang Group and became Karma Automotive, a completely separate company that still operates today.
Fisker Inc. went public in October 2020 through a merger with Spartan Energy Acquisition Corp., a special purpose acquisition company backed by Apollo Global Management, valuing Fisker at about 2.9 billion dollars at the time.
What Happened to Fisker? The Bankruptcy Explained
Fisker Inc. filed for Chapter 11 bankruptcy protection on June 17, 2024, after running out of cash and failing to secure a rescue investment.
The Fisker Ocean SUV, which began deliveries in June 2023, developed serious quality problems, including more than 100 reported loss of power incidents that triggered multiple federal safety investigations.
In March 2024, Fisker disclosed a net loss of more than 463 million dollars for 2023 and laid off 15 percent of its workforce.
A potential 400 million dollar investment deal, reportedly with Nissan, fell apart by late March 2024, removing what may have been Fisker’s last realistic lifeline.
The New York Stock Exchange delisted Fisker’s shares on April 22, 2024, shortly before the company filed for bankruptcy.
At the time of filing, Fisker listed assets of 500 million to 1 billion dollars against liabilities of 100 million to 500 million dollars.
What Happened to Fisker’s Assets and Intellectual Property?
A Delaware bankruptcy court confirmed Fisker’s liquidation plan on October 11, 2024, which took effect on October 17, 2024, splitting the company’s remaining assets between two creditor trusts.
American Lease LLC purchased about 3,300 remaining Fisker Ocean vehicles for roughly 46.5 million dollars, which became the main source of funds for the bankruptcy plan.
An IP trust received Fisker’s intellectual property and claims against its foreign subsidiaries, with proceeds directed mainly toward the company’s senior secured lender.
A separate general asset trust received other estate claims, with recoveries going toward general unsecured creditors.
As part of the settlement, American Lease received a license to certain Fisker intellectual property and agreed to fund and operate the Fisker Ocean cloud platform for five years starting January 1, 2025.
That arrangement means existing Fisker Ocean owners can still receive software updates and basic support, even though Fisker Inc. itself no longer exists as an operating manufacturer.
Is Fisker Under SEC Investigation Today?
No, the Securities and Exchange Commission closed its investigation into Fisker Inc. in February 2026 without bringing enforcement action.
Fisker had disclosed in bankruptcy filings that it received multiple SEC subpoenas related to its financial disclosures and operations before the collapse.
That investigation ran alongside the bankruptcy case for more than a year before regulators formally closed the matter in early 2026.
The closure removes one of the last open legal threads tied to Fisker’s collapse, though the underlying bankruptcy trusts continue winding down remaining claims.
Is Fisker the Same Company as Karma Automotive?
No, Fisker Inc. and Karma Automotive are two entirely separate companies, even though both trace back to designer Henrik Fisker.
Henrik Fisker’s original company, Fisker Automotive, built the Fisker Karma sedan and went bankrupt in 2013.
Wanxiang Group bought that earlier company’s assets in 2014 and formed Karma Automotive, which continues to build low volume luxury vehicles today.
Fisker Inc. was a completely different company that Henrik Fisker founded in 2016 to build the Fisker Ocean electric SUV, and it has no ownership connection to Karma Automotive.
For a full look at that currently operating company, see our guide to who makes Karma cars.
How Much Was Fisker Worth Before Bankruptcy?
Fisker was valued at about 2.9 billion dollars when it went public in October 2020, but that value collapsed to essentially nothing by the time of its 2024 bankruptcy.
At its peak, Fisker’s stock traded well above its SPAC merger price as investor enthusiasm for electric vehicle startups ran high in 2020 and 2021.
By April 2024, shares had fallen so far that the New York Stock Exchange moved to delist the stock entirely.
Fisker reported a net loss of more than 463 million dollars for 2023 alone, reflecting the enormous cost of developing and launching the Ocean without ever reaching profitable production volume.
The 46.5 million dollars raised from selling remaining inventory to American Lease represented only a small fraction of the capital investors had originally put into the company.
Henrik Fisker and Geeta Gupta Fisker launch a new electric vehicle company.
Fisker goes public through a SPAC merger valued at about 2.9 billion dollars.
Fisker starts delivering the Fisker Ocean electric SUV in June 2023.
Fisker is delisted in April and files for Chapter 11 bankruptcy in June 2024.
A Delaware court confirms Fisker’s liquidation plan in October 2024.
The SEC closes its investigation into Fisker without enforcement action in February 2026.
Can You Still Get Support for a Fisker Ocean Today?
Yes, existing Fisker Ocean owners can still get recall repairs, reimbursements and software support through American Lease, the company that acquired Fisker’s remaining inventory and support obligations.
As part of the bankruptcy settlement, American Lease agreed to keep the Fisker Ocean’s cloud software platform running for five years starting in 2025.
Owners with open NHTSA recalls on model year 2023 Fisker Ocean vehicles can currently enroll for repair or reimbursement through the surviving Fisker support channels.
No new Fisker vehicles are being produced, so this support structure exists solely to service the vehicles that were already sold before the bankruptcy.
Was Fisker Really Good or Was It Worth Buying?
The Fisker Ocean earned praise for its design and interior features at launch, but real world reliability problems and the company’s bankruptcy make it very difficult to recommend today.
Early reviews of the Ocean highlighted its distinctive styling, spacious interior and competitive range figures compared to rivals at the time.
However, owner reports and federal investigations documented serious issues, including sudden loss of power, faulty door handles and inconsistent software performance.
The National Highway Traffic Safety Administration opened multiple investigations into the Ocean covering braking, power loss and rollaway risks.
Because Fisker Inc. no longer exists as a manufacturer, buyers considering a used Ocean today take on real risk around long term parts availability and software support beyond the current five year commitment.
For anyone comparing electric vehicle startups, it is worth noting that not every young automaker has faced this outcome, and our guide to who makes Rivian looks at a competitor that remains an active, publicly traded manufacturer.
- Distinctive exterior and interior design at launch
- Competitive electric range figures for its time
- Some software and cloud support still available through 2029
- Recall repair program remains open for existing owners
- Company went bankrupt and no longer builds vehicles
- Multiple federal safety investigations into loss of power incidents
- Long term parts and service availability is uncertain
- Resale value has fallen sharply since the bankruptcy
Frequently Asked Questions About Fisker Cars
Is Fisker still in business?
No, Fisker Inc. is no longer an operating manufacturer after filing for Chapter 11 bankruptcy in June 2024 and completing liquidation later that year.
Its remaining assets are now held by creditor trusts rather than an active company.
Who owned Fisker Inc.?
Fisker Inc. was a publicly traded company, so it was owned by its shareholders rather than a single private owner.
Founder Henrik Fisker and his wife Geeta Gupta Fisker held significant stakes and led the company until its collapse.
Can I still get service for a Fisker Ocean?
Yes, American Lease continues to offer recall repairs, reimbursements and cloud software support for existing Fisker Ocean owners.
This support was guaranteed through Fisker’s bankruptcy settlement and is expected to run through 2029.
Is Karma Automotive connected to Fisker Inc.’s bankruptcy?
No, Karma Automotive is a separate company owned by Wanxiang Group and is not affected by Fisker Inc.’s 2024 bankruptcy.
Karma descends from an earlier, unrelated Fisker company that failed back in 2013.
More background on Fisker’s history and collapse is available on Wikipedia, and detailed coverage of the bankruptcy timeline can be found through TechCrunch.
Current Fisker Ocean owners can find recall and support information directly through the official Fisker owner support website.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.