Fisker trying to sell remaining 3,000 Ocean SUVs in bulk deal

Fisker trying to sell remaining 3,000 Ocean SUVs in bulk deal

As Fisker navigates bankruptcy proceedings, the struggling American electric vehicle (EV) startup is trying to sell its remaining inventory of Ocean electric SUVs in a bulk deal worth up to 46.25 million to address its financial issues. The bulk deal involves in New York-based leasing firm, called American Lease, which has plans to acquire nearly 3000 Ocean SUVs from the beleaguered startup. This surprising move comes as Fisker has filed for bankruptcy, highlighting its financial challenges.

As per emerging reports, the aforementioned leasing firm has agreed to acquire all the remaining Fisker Ocean SUVs for up to $46.25 million. The vehicles in question are configured for the United States and Canada. Brand-new Ocean SUVs will go for $16,500 each, while damaged EVs will be acquired for $2,500 each. There are 2,711 brand-new and nearly 300 damaged e-SUVs in Fisker inventory.

Fisker has requested the bankruptcy court to permit the sale of the remaining e-SUVs to the vehicle leasing firm. A hearing for the same is scheduled to take place on July 9, 2024.

Just last month, the Wall Street Journal (WSJ) published a report, claiming that Fisker and American Lease were in talks regarding the bulk deal. Recently, it was reported that the vehicle leasing company is showing interest in the bulk deal for the Ocean e-SUVs because of a new rule that requires the company to become an all-electric entity by the end of current decade.

It is worth-mentioning here that the sales of the ocean SUV started in the summer of 2023, with a price tag ranging between $38,999 (for the base Sport trim) and approx. $70,000 for a limited-edition Ocean One model. A few months back this year, the company trimmed down prices by up to $24,000 in a desperate attempt to boost sales.

The proposed bulk deal for remaining Fisker Ocean e-SUVs involving American Lease is really crucial for allowing the bankrupt EV startup to manage its huge debt piles. At the same time, it would offer a lifeline to the remaining Ocean SUVs. While the proposed deal appears promising for the leasing firm, which has plans to integrate these e-SUVs into its New York ride-hailing fleet, it puts question mark on existing Ocean e-SUVs. Existing owners are concerned about long term support, availability of parts and software updates, highlighting uncertain future for customers.

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