Fisker Files for Bankruptcy Protection

Fisker, an electric vehicle (EV) startup founded in 2016 by Henrik and Geeta Gupta, has filed for bankruptcy protection in the United States. The company is seeking to sell its assets and restructure its debt, which it had previously flagged as a concern in February. Despite attempts to secure investment from a major manufacturer, Fisker was unable to do so, leading to its current financial situation. According to the filing, Fisker's estimated assets range between $500 million and $1 billion, while its liabilities are estimated to be between $100 million and $500 million, with 200-999 creditors affected.