Written by Cláudio Afonso | LinkedIn | X
The EV startup Fisker announced on Thursday the arrival of its Ocean EV model at its first dealer partner in the UK. As it continued the transition from direct sales to dealerships, the company celebrated the model’s arrival at the dealership situated in central England.
“We’re thrilled to announce the arrival of the #FiskerOcean at our first dealer partner in the UK, Central GB Ltd in the heart of Nottingham”.
The EV startup added that it will provide test drivers as its dealer partners also provide service requirements, on-demand repairs, and support to customers.
“For our #FiskerFam in the Midlands, our dedicated partner’s team will serve as your go-to for test drives, comprehensive details on the Fisker Ocean, as well as handling service requirements, on-demand repairs, and providing customer support within the region. Contact Central GB Ltd at +44 1159 123 400 📞 for all your Fisker needs!”
Earlier this week, Fisker stated in a new SEC filing that it couldn’t complete its Quarterly Report on Form 10-Q for the first quarter by May 10.
The EV startup stated that the “management identified certain material weaknesses, including that the Company did not design and maintain an effective control environment commensurate with its financial reporting requirements”. Fisker added that is “unable to provide an estimate” for the timing of the filing.
Additionally, the independent auditor, PricewaterhouseCoopers (PwC), declined re-appointment for the audit of the fiscal year 2024. Fisker is now seeking a new auditor which will be announced”once the evaluation process has been completed by the Audit Committee”.
Fisker reaffirmed that is exploring strategic alternatives — as previously stated —, including bankruptcy protection.
“If capital is not available to the Company when, and in the amounts needed, the Company could be required to further curtail its operations and/or seek protection under applicable bankruptcy laws,” the company said.
Also on Monday, Fisker announced the completion of a deal to sell senior secured notes due 2025 to an existing institutional investor, raising $3.456 million.
The offering carries the potential to raise the aggregate principal amount of the notes to $7,500,000. Wrapped up on May 10, it marks a significant financial move for the company as it seeks investment to restart production and launch new products such as Fisker Pear and the pick-up truck Alaska (known as Kayak in Europe).
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The company said it intends to use the proceedings to finance various expenses in line with the budget approved by the investor adding that these senior secured notes are set to mature on June 24, 2024.
Earlier today, Fisker announced it sold out all the inventory units from the Sport trim of its first model, the SUV Ocean, in the US.
The company also reported that it is adding three new dealership locations of which two are in California (Newport in Orange County and San Jose) and one in New Jersey. With this addition, Fisker reaches a total of 15 dealers in the US.
These new dealerships will be operational soon, offering authorized sales of Fisker vehicles, the EV startup said.
Since January, the company has been switching its business model from direct sales to a dealer partnership model. Earlier this month, the company closed its showroom in New York as part of the transition.
In late March, the startup started considerable discounts on the 2023 inventory with the Extreme variant now starting at $37,499 (down from $61,499), the Ultra variant starting at $34,999 (from $52,999), and the Sport’s one at $24,999 (from $38,999).
Fisker announced last week, via an SEC filing, that has an agreement been reached with an investor to extend the deadline until this Friday, May 17.
Written by Cláudio Afonso | LinkedIn | X
