Freefalling EV Company Slashes Car Prices As Investment Talks Stall

Freefalling EV Company Slashes Car Prices As Investment Talks Stall

Electric startup Fisker is in a bad spot right now. It’s running out of cash and desperately needs a bailout, but any negotiations with legacy automakers that may have been interested in investing appear to have stalled, and trading of its shares has halted. If you needed further proof that bankruptcy is just around the corner, though, look no further than CarBuzz reporting that Fisker has slashed prices on the Ocean, with the base model now being available for less than $US25,000.

Yes, you read that correctly: You can buy a $US38,999 Fisker Ocean Sport at a $US14,000 discount, bringing the price down to $US24,999 before any state or local rebates. The Ocean Sport only comes with 231 miles of range and needs 6.9 seconds to hit 60 mph, so the Ocean Ultra may be more appealing with its 350 miles of range, 3.9-second zero-to-60 mph time, dual-motor setup and new $US34,999 price tag. The best deal, though, is probably the top-of-the-line Ocean Extreme, which has slightly more range and is slightly quicker but has also been given a $US24,000 discount, bringing the price down to $US37,499.

Even assuming no rebates apply, at least on paper, you’d be getting an incredible amount of car for your money. The downside, though, is that no one has any idea what Fisker’s pending bankruptcy will look like. Will Fisker be required to set aside any money to cover warranty work? Will Magna Steyr continue to produce parts? Will any software issues be resolved before the company closes? Will another automaker buy up Fisker’s assets to use?

The answers to those questions will likely have a massive impact on how practical it is to continue to own a Fisker Ocean post-bankruptcy. With so many unknowns, though, we’re going to say it’s probably best to hold off on buying an Ocean even with a steep discount. There’s just no way it’s worth the risk.

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