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Fisker faces federal probes and potential delisting from stock exchange

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Fisker has had a tough time getting its first battery-electric vehicle (BEV) product off the ground, and now the startup automaker is facing both federal probes and potential delisting from the stock exchange.

After complaints of a partial loss of braking in the 2023 Fisker Ocean sparked a probe from the National Highway Traffic Safety Administration (NHTSA) last month, the automaker now faces an additional NHTSA probe over complaints of unintended vehicle movement and an inability to shift into park or other intended gears.

The Office of Defects Investigation (ODI) has received four complaints about the unintended vehicle movement issue in the 2023 Fisker Ocean, one of which alleges that the issue resulted in an injury. The ODI has opened a Preliminary Evaluation (PE) to investigate the issue in around 4,000 Fisker Ocean units, and the report says that the issue could result vehicle rollaway, whether the driver is inside the vehicle or not, along with other unintended movements.

You can see the NHTSA’s ODI resume for the unintended vehicle movement issue below, as shared earlier this month.

Along with the recent NHTSA probe being opened last week, Fisker has also been issued a non-compliance notice from the New York Stock Exchange (NYSE), after the automaker’s stock dipped below $1 on average for 30 consecutive days (via Automotive News). The notice gives the automaker six months to become compliant again, or else the company will be delisted from the NYSE.

Fisker produced over 10,000 of its electric Ocean SUVs last year, which was under a fourth of its initial production forecast. However, the company only delivered around 4,700 of the BEVs despite producing thousands more. The company has said it plans to offload all of the extra vehicles in the first quarter of this year, and it has also moved away from its direct sales model to instead work with dealerships.

MKBHD says the Fisker Ocean is the ‘worst car’ he’s ever reviewed

What are your thoughts? Let me know at [email protected], find me on X at @zacharyvisconti, or send us news tips at [email protected].

The post Fisker faces federal probes and potential delisting from stock exchange appeared first on TESLARATI.


Source: https://www.teslarati.com/fisker-federal-probes-potential-stock-delisting/


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