Bankrupt Fisker has been authorized to sell off electric cars - the cheapest one was priced at $2,500

A court has approved the sale of cars for Fisker, an electric vehicle manufacturer that recently filed for bankruptcy.

According to Bloomberg, a total of 3300 Fisker cars will be sold to the auto leasing company American Lease LLC for a total amount of $46.25 million. Electric cars in "good working condition" were valued at $16,500, while damaged vehicles at $2,500 (note that the price of the new flagship Fisker Ocean reached $70,000 last year and some customers did purchase it).

This deal marks a symbolic end for the electric vehicle manufacturer, which advertised its vehicles as the "future of clean mobility," but then experienced production and delivery delays, hindering the rollout of its flagship SUV and ultimately leading to a bankruptcy filing.

Under the proposed agreement with American Lease LLC, Fisker is not required to honor warranties for repairs or servicing (as for whether current Fisker owners will be serviced, information is not available).

Fisker will also provide American Lease with "all relevant source codes or other operational elements of the software, as well as existing developments that may be required to ensure the functionality of the vehicles."

• The Ocean electric car, launched last year (sales started on June 23, 2023), received criticism from owners. Users reported a number of software and mechanical issues. The company itself faced customer service problems. In the end, Fisker was only able to sell a few thousand cars. The assembly was handled by contract manufacturer Magna.
• Fisker attempted to stay afloat through several rounds of layoffs and other cost-cutting measures. The company also changed its business model. Earlier this year, Fisker abandoned direct sales to customers — a system popularized by Tesla — and instead tried to collaborate with well-known dealers. In the end, the efforts were not enough to save the company.