Automotive Experts Say Investors Should Have Seen Fisker's Bankruptcy Coming [Forbes]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: Forbes
Electric vehicle maker Fisker, founded by Danish automotive designer Henrik Fisker and his wife Geeta Gupta-Fisker, filed for bankruptcy protection on Monday. "Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently," the company said in a prepared statement. Most industry experts noted the writing was on the wall. The Ocean, the automaker's only EV offering, was slow to sell due to weakening demand, and owners complained about loss-of-power incidents with vehicles that had been delivered. In March of this year, Fisker announced that it was struggling financially due to a net loss of $463 million in 2023. With its Chapter 11 bankruptcy filing in Delaware, the company joins Proterra, Lordstown, and Electric Last Mile Solutions—fellow EV automakers on the same sinking boat. Automotive industry experts had been apprehensive about Fisker since its start in 2016, citing Henrik
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- Analyst revises Ford, GM, Rivian stock price targets on China 'butterfly effect' [Yahoo! Finance]Yahoo! Finance
- Tesla Superchargers: GM, Ford, Rivian, and other EV brands with access [TechCrunch]TechCrunch
RIVN
Earnings
- 8/6/24 - Miss
RIVN
Sec Filings
- 9/25/24 - Form 4
- 9/23/24 - Form 144
- 9/16/24 - Form 4
- RIVN's page on the SEC website