Beleaguered electric vehicle producer Fisker is aiming to sell off the remaining inventory of Fisker Ocean crossovers in a bid to raise much-needed funds and pay off its debts.
According to a recent filing made to a U.S. bankruptcy court, the all-electric crossovers will be sold to American Lease, a New York-based EV leasing firm, which has agreed to buy the entirety of remaining stock. American Lease is expected to purchase a total 3,231 units of the all-electric Ocean crossover. The deal places a value on the vehicles up to $16,500 per unit and as low as $2,500 per unit, depending on the vehicle’s condition. Prototype and pre-production models are excluded from the deal. The leasing firm will in turn offer the vehicles to lease for ride-hailing services. Notably, New York will require all ride-hailing vehicles to be all-electric by 2030.
American Lease will handle all repairs, maintenance, and parts sourcing, while Fisker will no longer be required to honor warranties or ensure parts availability. While Fisker will not update vehicle software beyond version 2.1, it will provide American Lease with the necessary source code and tools for future software updates.
The deal is expected to total some $46.25 million, which Fisker will then use to pay off its debts. Fisker filed for Chapter 11 bankruptcy in June, and has faced numerous issues as of late, including mismanagement and hardware/software problems, leading to multiple stop-sales.
The all-electric Ocean in particular has suffered a number of issues, including potentially dangerous faults like the sudden activation of the automatic emergency braking system, as well as failure to go into Park, potentially causing a rollaway situation. As a result, the National Highway Traffic Safety Administration (NHTSA) has opened several probes into the Ocean.
Although the deal provides a solution for the EV producer’s financial woes, as well as American Lease’s fleet needs, it leaves current Ocean owners uncertain about future support and updates for their vehicle, with many questions left unanswered.
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Comments
Cadillac Optiq rival?
How can something that doesn’t exist yet rival something that doesn’t exist anymore?
Anyone that buys one needs an emergency lobotomy.