Fisker requests bankruptcy court approval to sell its EVs at an average price of $14,000 each

Fisker has a prospective buyer for its remaining inventory of all-electric Ocean SUVs and has asked the Delaware Bankruptcy Court judge overseeing its Chapter 11 case to approve the sale.

If the judge approves, Fisker will be able to sell 3,231 finished EVs to a New York-based vehicle leasing company for $46.25 million, which averages to about $14,000 per vehicle. This is significantly lower than the original starting price of around $70,000 for some models and even less than the discounted prices Fisker offered during its bankruptcy.

The motion for the sale’s approval could become a contentious point in Fisker’s Chapter 11 bankruptcy proceedings. Lawyers representing the company’s unsecured lenders voiced concerns during the initial hearing on June 21, worrying they might not see the proceeds from such sales. Fisker owes approximately $1 billion to its unsecured creditors.

The total scope and value of Fisker’s other assets remain unclear, as the startup’s lawyers filed a motion on Monday to delay releasing that information, stating it is still being compiled.

The leasing company, identified by The Wall Street Journal as American Lease, primarily offers vehicles to ride-hail drivers in New York City, where fleets are required to be zero-emission by 2030. The company has agreed to wait to lease any of the Ocean SUVs until all open recalls are addressed.