Topline
The National Highway Traffic Safety Administration opened another investigation into Fisker’s 2023 Ocean SUV—the third probe into safety flaws for the model as the electric vehicle manufacturer faces an uncertain future after shutting down production in March.
Owners of the electric SUV have reported faulty brakes, doors and problems shifting gears that have ... [+]
Key Facts
The first investigation into the Fisker Ocean was launched in January after the NHTSA received nine reports of losses in braking without warning the driver, which resulted in “sudden increase in stopping distance” and at least one crash.
About one month later, the agency opened a second investigation into the model’s power train, with four drivers reporting the car could not shift into park or the correct gear, causing “unintended vehicle movement or vehicle rollaway” and at least one injury.
The new investigation was opened after NHTSA received 14 reports of “intermittent failure of the latch and handle” preventing drivers and passengers from opening the doors—with some complaints noting both the interior and exterior latches failed, forcing the passenger to exit through a different door.
In some cases, the door’s emergency override mechanism failed, the agency noted.
Fisker has not responded to a request for comment from Forbes, but previously said they were “fully cooperating” with investigators after the first probe was opened in January and issued an over-the-air software update for their braking system.
Key Background
The ongoing investigations come as Fisker prepares to potentially file for bankruptcy due to lagging sales, the Wall Street Journal reported in March. Fisker produced a total of 10,193 Ocean SUVs in 2023, and delivered 4,929 to customers, according to the company’s fourth quarter filings. The company reportedly hired restructuring advisors and began talks with a “large carmaker” for a potential investment in March. Days later, the EV manufacturer announced it was pausing production for six weeks in order to improve its inventory.
Forbes Valuation
We estimate Henrik Fisker and his wife, Geeta Gupta-Fisker, are worth about $1.6 billion. The couple founded the electric car company in 2016, and took the company public through a SPAC merger in 2020. Both Fisker and Gupta-Fisker own about 20% of the company each.
Surprising Fact
Last week, Fisker announced that it would slash prices for the Fisker Ocean models. The Ocean Extreme, the top-of-the-line model, initially sold for $68,999 last year, but was cut down 39% to $37,499. The Ocean Sport, the lower-tier model, was also cut by about 36% and will only cost $24,999. The move was designed to make the Ocean an “affordable and compelling EV choice” and “competitively available to EV buyers in the broadest possible market,” the company said in a press release.
Further Reading
EV Maker Fisker Pauses Production For 6 Weeks Amid Ongoing Struggles
Fisker Says It’s Got More Than $300 Million Worth Of Preorders For Its Electric SUV