Fisker's Bankruptcy Has Become a Nightmare for Owners 

Love that Henrik wants his paycheck. He’s a piece of crap

Why are the Fiskers not in jail for fraud. They knew they delivered an incomplete car and they trained staff to lie

One of your best videos yet! I really like the clever incorporation of actual audio from the hearing with your commentary. You brought the “characters” to life.

This train wreck keeps getting worse. So glad you got out of it and got your new Honda!

Adam, thank you for continuing to tell the tale. I have really appreciated your insight.

All I can keep saying is thank goodness we cancel our order last year! We did lose our deposit but compared to what we would be dealing with now IF we did get the Ocean is 100% headaches and $$$$! Wish we never put a deposit but it is what it is at this point! Thank you again Adam!

Been following you for a while Adam since I ordered my Ocean One on 12/2019. Took delivery on 10/2023. No loans. Car is paid for full price. I agree with many followers. You’ve done a phenomenal job covering this crook. I’m sick. I feel I need to bailout now. Take a big loss for my safety.

Kudos to you Adam for your professionalism and perseverance. Through all of this epic slow motion Titanic like sinking of Fisker, you have always been objective and the voice of reason. This is unlike the other Fisker fanboys and fangirls that pedaled hopium thus deceiving their subscribers. Hopefully Fraudsters Henrik and Geeta will go to prison.

Henrik should use his house for collateral, to make payroll, if he believes in the dream so much!.. he’s personally not invested in the outcome, because he’s already milked out what he needed too….😂😮

It's amazing that people would fall for Henry Fisker's shenanigans twice. 😂😂😂😂😂😂

Adam should be a damn lawyer! Thank you for keeping all owners up to date!

stuck with this vehicle and its making me sick daily just the shit position Im in. I was driving around and taking trips on it, but now I don't even want to do that for fear of the pumps...fucking hell

As a FOE owner, this really sucks.

So, the profit for American Leasing is EXTREME. They will have Taxis, Uber, and Lyfy opportunities to make money on the Oceans that they are buying for peanuts. They have exclusive ownership of the software and diagnostics, and they have used Oceans they paid almost no money for that will run as well as the new unsold ones, AND they have Oceans that are damaged that they are paying $2500 for parts. The ONLY limitation American leasing has is that they can not sell any of the Oceans they are buying for 1 year. So, after one year they can sell the Ocean but you can be damn sure that they will be as greedy as every corporation and will not be selling then for what they paid for them. WOW!!!!! And the private Ocean Owner will be either locked out of parts, or parts at HUGE cost, no access to service as 3rd party locations will be lock out of servicing the Oceans, no diagnostic tools and of course not warranty, stuck at 2.1 IF Ocean owners can even get 2.1. And all recalls go to American leasing ONLY!!! Very nice!!!! The greed continues.

Henrik and Geeta should be in jail.

Sadly, a taxi company has priority over value consumers who pay MSRP. Next time I see a new Fisker company I will make sure to stay the F away. He weaseled his way out of his second mess.

Full disclosure and spoiler alert: I don't own a Fisker Ocean. This story is completely hilarious and beyond belief... The question burning in my head is, is what Fisker is pulling off here, even remotely legal? The judge should really sort this billion dollar mess out.

Convenient that the sale agreement excludes all obligations to make, even partial payments to debtors, or any supports for owners. The Bankruptcy court will fail its role if this does not become a key part of the agreement. Fisker will be able to use the funds how IT sees fit, with little IMMEDIATE oversight.

That payroll expense is wild. If they laid off half of those people and were granted access to the remaining cash collateral, they could push out the approval of the sale by a few weeks

Whew! So glad I was able to get out when I did. Thanks for an interesting video and agree, the audio from "those parties" attending was well...enlightening. I feel bad for the owners who are stuck. Great job presenting as always Adam!

Spot on as usual Adam. Great research and facts 👏 👌

Wow! Henrik (and I presume Geeta) is still on the payroll??? The people who cratered this company through their own greed are still pulling money out...brilliant! Thanks for the update Adam!

Faulty circuit boards can be repaired if the repairer is really good at what he does. Also, the failure of the PCB itself could be mitigated by extraordinary measures (better sealing, controlling temperature better etc.). We don’t know what the actual problem is. Is it software or hardware? Is it mechanical or thermal? There’s still little hope for owners.

Sad my car has been down since March because of the water pump issue. I can’t get the 2024 part even thigh Fisker has them.

Man, am I glad I never bought the Ocean

Thanks Adam, that was a lot of work and we appreciate it.

when you're buying a car for its look and that's all you got

Solid analysis. Doesn’t keep me from enjoying the shit out my FOO with the roof open as i cruise on the Washington Peninsula or around Seattle, but there is always this little terrified voice inside telling me to watch out for stones hitting the windshield or some H2O pump seizing up. 10,500 99%error-free miles so far and hope for 100k more.

Love your work, Adam. Keep in mind that in addition to payroll, and zero mention, Fisker owes all terminated staff the agreed upon severance. Meanwhile they’ve kept the inept management team that got them there in the first place to include someone in Michigan who has not once stepped in the la Palma location. As for repairing the pumps, dream on!!! No master techs or techs still employed. more lies!

Those who do not learn from history are doomed to repeat it

I was watching the John DeLorean story and it reminds me of Fisker. Both were great designers who didn’t understand about production and scaling up. DeLorean had some great features in the prototype, but had to take a lot of them out for production. Both companies were under funded for what was needed.

Another very informative video Adam. Thank you and keep them coming!

I got the popcorn out for this one 🍿

Who'd have thought buying a vehicle from a startup that could disappear is a dumb Idea?

“Optimistically sarcastic”😂😂😂

Watching these videos about how the Fisker ocean is a dead buy gets me excited to buying one

Feel sorry for people who have this and kept it based on Pride and not logic.

Those who bought a vehicle from a new company that just started gets what they deserve to be honest. Just sayin’

Great job putting this video together - thanks!!

And what are all those Fisker owners now thinking......I could of had a Toyota if I didn't have to be Mr. Cool on the Block!

What Henrik Fisker should do now is invest money in creating a software engineering company to work on the vehicles.

It should be made open source in the bankruptcy proceedings so the market can provide solutions.

Well if anyone knows the Bankruptcy rules all this is a formality. Because in Chapter 11 the plan is already approved soon as you file. Unless theres an adversary hearing objecting to the organization.

I see the Oceans are going for $26K right now. What a risk to buy one of these.

I saw a Fisker Ocean on the highway. A shame. It's a very handsome vehicle. Fisker fiasco is exactly what EV nay-sayers say would happen.

Hi Adam , when you said resale value, who want to buy & why . I am so scare to find out. What about trade in possible?

Adam BRUHHH I love it thank you for another great video :)

What a Mess!!.. sad, but he needed a Billion dollars to do this right, and develop their own operating system, they assembly could still have been done by Magna, but at the end of the day, a Designer is not the same as an engineer….Classic Battle of the Departments, going back to the 60’s.. when Carrol Shelby learned the manufactures were going to use EGR valves, he said performance was dead.. he was right, the engineers won. He was out…..

JESUS…

What really blows my mind is that there has not been a class action lawsuit against Fisker yet. What kind of sheep are Fisker owners?

This s is all so HORRIBLE!!

The FOA should insist that the source code and all tools (hardware and software) to update Oceans are made available to FOA for access by all owners. All Ocean owners could then in theory club together and contract a software developer or team to at least fix bugs. That should be the minimum offered to them.

Take a guess where those printed boards where made

The creditors have a legal right to seize any assets on default, but can’t in Chap. 11. So Fisker concluded a deal having a chap. 11 filing accepted by the court. That means the company raised money they would otherwise not have been able to conclude a transaction for the vehicles. My guess would be they are not winding up the company just yet, as having their chap. 11 thrown out would result in liquidation, which is what the creditors would prefer. Instead, inventory was sold and a deal concluded under chap 11. American Leasing got the warranty issues sorted as part of the bargain. Warranty holders as a group can now hire counsel and petition they they too must have their warranty issues rectified in the same way. But that’s not going to happen. Looks like creditors are going to take a serious haircut if they can’t claw back any of the funds generated by the sale of surplus Oceans. I guess the trustee would be quite pissed as it’s their job to oversee any and all transactions. But the transaction could be considered acting reasonably under the circumstances, so no breach of the law. In order for Fisker to exit bankruptcy, they have to eventually touch base with warranty holders. That part isn’t over just yet unless they specifically declare warranty holders claims void. I guess the hearing would be interesting as it all comes out then. Prepare that things could be delayed further, but in the meanwhile, you might need a cover for the Ocean garden furniture.

I'm mostly here for the "brah's". You can't make this stuff up.

why does fisker even have a $1mil a week payroll still lol is their ceo really that tarded? being unqualified is one thing but is the ceo maybe actually mentally challenged?

When these cars go to a fleet, I think it’s reasonable to assume they will be involved in a number of minor accidents. Therefore the statistics insurance companies rely on to gauge risk will mean show the Ocean as highly likely to be involved in accidents. Then even higher premiums will come shortly after. Am I wrong?

Do you think there would be a company out there that will buy out the titles to the Fisker software etc once it’s completely done for?

That means vehicles in Canada will not be fixed at all ?

"The Fisker Employee"..please, sold T-Shirts with that line, shame in "the employee of the month" comparting to this guy/lady.

Fisker Owners Association needs to pool their owners' money and make a higher offer to get all the benefits and unsold cars so they can have spare parts and updates. If there are 4500 owners out there, it would only be $10k per owner to come up with a $45m offer for the fleet and royalty free IP. Maybe form an FOA LLC to manage the fleet and charge owners for services and distribute profits and losses to the owners.

The most sustainable car in the world!

where are all the Fisker fanboy....:)

Great video

Lalala yes yes buy cars from street cobblers.

1 Fisker employee. Lmao.

A ev should have multiple redundant cooling systems for the batteries..

Love the thumbnail 😂!

Im buying one i love having something other's turn away from

Do you have the email to the bk trustee

Yall care way too much. Don’t like it, don’t buy it. That simple.

Lemon 🍋🍋🍋🍋

Elons next…………

"most sustainable SUV on Earth" what a joke. This car can't last even 5 years. The production of the battery alone is producing the same amount of CO2 as a gasoline car for 5 years. Not to mention the e-waste this car is.

Good info, but kindly lose the cheezy movie clips. Wildly inappropriate in a serious piece, irrelevant, and not funny.

Hahaha

brick

You just looking for visits….

Truly one of the slimiest companies to ever incorporate in the US of A 🫠🫠👎👎