Fisker files for bankruptcy protection in wave of EV startups, moment of déjà vu for its founder

Fisker, the all-electric vehicle startup, has filed for Chapter 11 bankruptcy protection. This comes as a result of lackluster consumer demand, operational issues, and significant cash burn. Fisker is the latest in a series of EV companies to collapse, joining others such as Proterra, Lordstown Motors, and Electric Last Mile Solutions. The company was unable to secure investment from a major automaker to stay afloat. Fisker’s first car company, Fisker Automotive, also filed for bankruptcy protection in 2013. The automaker owes millions of dollars to various software and engineering companies.