Bankrupt EV Company Slashes Prices on Ocean SUVs

Electric vehicle startup Fisker is facing a steep decline as the company seeks court approval to sell its remaining stock of SUVs at a fraction of the original price. The bankrupt company produced 3, 321 Ocean SUVs, initially priced around $70, 000 each. Now, Fisker is requesting permission to offload this inventory to a New York-based leasing company for just $14, 000 per vehicle. This fire sale price is likely to raise concerns among Fisker’s unsecured lenders, who have already expressed disapproval of the company’s recent bargain-basement deals.

The news comes amidst a flurry of headlines in the TechCrunch AM newsletter this morning. Other top stories include Google’s apparent efforts to downplay the environmental impact of its artificial intelligence (AI) operations, a privacy-focused alternative to Google Docs gaining traction, and escalating tensions between SpaceX and its competitors over launch rights at NASA’s Kennedy Space Center.