Fisker's ride from Tesla competitor to bankruptcy

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June 18, 2024 11:32 AM EDT

FILE PHOTO: The Fisker logo is shown on the back of a Fisker Ocean electric SUV vehicle at one of the company’s sales, service ands delivery centers in Vista, California, U.S., May 22, 2024. REUTERS/Mike Blake/File Photo

(Reuters) - Fisker filed for bankruptcy protection late on Monday, becoming the latest electric-vehicle startup to collapse after Arrival and Lordstown Motors in a tough market dominated by Tesla and Chinese automakers.

The startup had aimed to compete with Tesla's best-selling Model Y crossover with its Ocean SUV, but it failed to overcome supply chain issues, a tough funding environment and distribution hurdles that caused rapid cash burn.

Here is the list of events leading up to Fisker's bankruptcy:

(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Devika Syamnath)


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Bankruptcy, Tesla