Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 
 


Keywords

2024-10-05 00:25:05| Engadget

The past week hasnt been the kindest to the electric vehicle industry. Now, its capped off with news that the EV startup Fisker is the subject of an investigation from the US Securities and Exchange Commission (SEC). TechCrunch reported that SEC officials sent several subpoenas to Fisker. The filing doesnt specifically say what the subpoenas are asking for or looking into but its clear that the SEC has launched an investigation into the floundering EV maker that filed for Chapter 11 bankruptcy in June. Fisker has been struggling to keep its head above water ever since last years disastrous rollout of its Ocean SUV that failed to score more than a few thousands sellers even though it produced well over 10,000 units. Following its Q4 earnings report last year that saw a gross margin loss of 35 percent, the car maker announced it would lay off 15 percent of its workforce the following March as it shifted to a direct-to-consumer sales strategy. A Fisker spokesperson declined to comment on the matter to TechCrunch saying they could not comment on the existence or nonexistence of a possible investigation. Fisker isnt the only EV maker to suffer a noticeable setback. Tesla saw a major stumble with the fifth recall of its beleaguered Cybertruck.This article originally appeared on Engadget at https://www.engadget.com/transportation/evs/fisker-faces-more-bad-news-as-the-sec-starts-investigating-its-business-practices-222504280.html?src=rss


Category: Marketing and Advertising

 

Latest from this category

04.07Otriums AI models give unsold fashion a second chance
03.07Top 10 Favorite Creator-Led Brands [Infographic]
03.07AI Update, July 3, 2025: AI News and Views From the Past Week
03.07The Power of Emotional Advertising in B2B Brand-Building: Feelings vs. Function
03.07In Relooted, gamers plan the perfect heist to reclaim Africas stolen artifacts
02.07The State of Hybrid Work
02.07Thought Leadership for Lead Generation: A Smart Key for Unlocking Transformational Growth
01.07Eight Less Traditional Ways People Are Using AI at Work
Marketing and Advertising »

All news

07.07Trump calls Musk's new political party 'ridiculous'
07.07Analysts see 1525% upside in cement stocks despite valuation caution
07.07Analysts see sustained FPI inflows, await clarity on tariffs and global rate cuts
07.07IPO rush, block deals fuel two-fold jump in market fundraise
07.07Is Travel Food Services' IPO a risky bet for investors?
07.07Where is Nifty headed this week amid trade deal uncertainty?
07.07Top 10 companies of Nifty 500 with highest dividend payouts for FY25
07.07Post Office Horizon scandal: Why hundreds were wrongly prosecuted
More »
Privacy policy . Copyright . Contact form .