The Zhitong Finance App learne-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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The Zhitong Finance App learned that, according to reports, the American electric vehicle startup FSR.US (FSR.US) is planning to file for bankruptcy due to Ocean SUV's mechanical problems and lack of capital. Just two weeks ago, the company issued a warning about its ability to continue operating. Sources said Fiske has hired FTI Consulting and Davis Polk law firm to assist him in filing the application.

Following the news, Fiske's stock price plummeted 46% after the market on Wednesday.

At the end of last month, Fiske announced preliminary results for the fourth quarter, with a loss of 1.23 US dollars per share and total revenue of 200.1 million US dollars, a sharp drop compared with the same period last year. At the time, the company said it would be forced to reduce investment in product development, scale down operations, and reduce production of Fiske Ocean cars unless additional capital or debt financing can be obtained.

Before Fiske warned of operational difficulties, electric vehicle manufacturers Rivian (RIVN.US) and Lucid Group (LCID.US) both reported disappointing results and stagnant production, as high borrowing costs dampened consumer confidence and led to a sharp slowdown in demand for electric vehicles.

According to media reports at the beginning of this month, Nissan and Fisk are in in-depth negotiations on cooperation matters. The terms of the cooperation agreement could include Nissan's investment of more than $400 million in the Fiske truck platform and Nissan's production of Alaska electric pickups for Fisk.

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BlithePullan
·03-14
Great job on the detailed report! 👍
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