Fisker, the electric vehicle (EV) startup that recently filed for bankruptcy protection, has sought approval from a bankruptcy judge to sell over 3,000 of its Ocean electric SUVs to American Lease, a vehicle-leasing company. The proposed sale would allow Fisker to offload its inventory of electric vehicles for approximately $14,000 per car, totaling $46.25 million.
Fisker faced logistical challenges in selling its Ocean SUVs, prompting the company to shift to a dealer-partner model. This change in strategy came after Fisker had already consumed a significant amount of cash. In order to raise capital and meet debt obligations, the company slashed prices of its cheapest variant from around $70,000 to approximately $25,000.
Prior to filing for Chapter 11 bankruptcy protection, Fisker had reached an agreement with American Lease to purchase 2,100 Ocean EVs. The deal was later expanded to include all 3,321 vehicles that were ready for sale. American Lease primarily serves ride-share drivers in and around New York City by providing them with a fleet of leased or rented vehicles.
This significant purchase by American Lease aligns with New York City’s efforts to transition its ride-share fleet to either zero-emission vehicles or wheelchair accessible vehicles by 2030. By acquiring Fisker’s Ocean electric SUVs, American Lease can offer ride-share drivers an environmentally friendly transportation option that complies with the city’s mandate.
The collaboration between Fisker and American Lease not only benefits both companies but also contributes to the larger goal of reducing carbon emissions in the transportation sector. By utilizing more electric vehicles, ride-share services can significantly decrease their carbon footprint and help combat climate change. Furthermore, this partnership highlights the growing demand for affordable electric vehicles in the ride-share industry.
Overall, Fisker’s request to sell its Ocean electric SUVs to American Lease represents a mutually beneficial agreement that addresses both logistical and financial challenges for the EV startup. The sale not only allows Fisker to generate much-needed revenue but also supports New York City’s sustainability initiatives by providing ride-share drivers with electric vehicles. As the push for environmentally friendly transportation continues to gain momentum, partnerships like this will play a crucial role in creating a more sustainable future.
