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Electric-Vehicle Startup Fisker Files for Bankruptcy
Fisker, the electric vehicle maker, filed for Chapter 11 bankruptcy protection following struggles to expand beyond early adopters, becoming the second electric startup to do so in a year.
Fisker Group Inc. reported assets between $500M and $1B, liabilities between $100M and $500M, with 200-999 creditors in their Chapter 11 filing.
Fisker aims to restructure debt and sell assets to save operations after cash depletion from Ocean SUV production attempts.