Fisker Faces Bankruptcy, Massive Recalls, and Leadership Pay Cuts

The troubled EV startup is grappling with financial distress, vehicle defects, and operational shutdowns.

CEO and CFO reduce salaries to $1 to support bankruptcy proceedings.
Over 11,000 Ocean SUVs recalled globally due to water pump issues.
UK subsidiary files for insolvency, leaving employees unpaid until August hearing.
Company seeks court approval to sell remaining inventory at a reduced price.
Fisker owners form association to ensure access to parts and services.