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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Fisker failed to outperform Tesla and went bankrupt.

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Image credit: driver and car

Henrik Fisker attempted to emulate Elon Musk’s charisma but failed.
Like other electric vehicle companies, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently.

It’s hardly unexpected to those paying attention. Fisker has been warning about its liquidity shortage for months. This did all the right things to cut costs. It laid off nearly 15% of its workers, slashed prices, and searched for an investor to save the struggling EV company without luck.

“We have faced various market and macroeconomic headwinds that have impacted our efficiency.”

Fisker’s bankruptcy is a result of EV sales slowing and companies that staked everything on pure battery-electric vehicles running out of funds.

However, Fisker sought to emulate Tesla but failed to imitate Elon Musk’s achievements. Musk had less professional experience than Henrik Fisker, a BMW designer who founded his own vehicle company. Fisker lacked Musk’s charisma, inspiration, and, most significantly, skill to lie his way out of bad situations.

Not for lack of trying. Early on, Henrik was skilled at making big promises that generated enthusiasm and talk about Fisker. Henrik claimed to have solved an EV production “holy grail” with an actual solid-state battery in 2018. (These batteries store energy without liquid electrolytes. These cells are comprised of solid, “dry” conductive material.

According to Fisker, his company is just a few months away from finalizing a solid-state battery design. It was apparent early on that the company couldn’t deliver. The business postponed a solid-state sports car in early 2019 and switched to the Ocean SUV, which uses lithium-ion batteries. Fisker scrapped its solid-state battery project two years later.


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