The fall of EV startup Fisker: A comprehensive timeline

Fisker, a promising electric vehicle (EV) startup, faced a series of challenges that ultimately led to its downfall. The timeline begins in 2007 when the company was founded and unveiled its first model, the Fisker Karma, in 2011. However, the Karma experienced production delays and quality issues, leading to a recall and eventual bankruptcy filing in 2013. Fisker's financial troubles were compounded by the loss of a $529 million loan from the U.S. Department of Energy, which was intended to help the company develop and produce its vehicles. The company's inability to secure additional funding and the departure of its co-founder and CEO, Henrik Fisker, in 2013 further exacerbated its woes. The article also highlights Fisker's struggles with battery supplier issues, the impact of the 2008 financial crisis, and the competitive landscape of the EV market. Ultimately, the startup's inability to overcome these challenges resulted in its demise, serving as a cautionary tale for other EV companies navigating the complexities of the automotive industry.