Electric Vehicle (EV) manufacturer Fisker has been delisted by the New York Stock Exchange due to its 'abnormally low' price levels, amidst a weakening Thai auto market that has forced EV makers to offer deep discounts. Fisker, in particular, has made drastic reductions to the Manufacturer's Suggested Retail Prices (MSRPs) of its Ocean trims, cutting them by tens of thousands in a bid to remain operational. These price cuts are seen as a last-ditch effort to avoid insolvency, with reductions on 2023 EV models in an attempt to make them more affordable. The price of its only model has been slashed by 39% as Fisker grapples with financial instability, marking a significant departure from previous industry price cuts, such as those made by Tesla last year.
EV maker slashes prices as it tries to avoid bankruptcy https://t.co/gw1nR3i3rP
Troubled EV maker Fisker to cut some car prices by more than 30% to boost demand https://t.co/aBpIWuAg4E
Fisker Slashes Price Of Its Only Model By 39% In Last-Ditch Bid To Stay Solvent https://t.co/Zs8d3MjFvf
Good morning. In case you missed it, here's my latest on the trouble inside EV startup Fisker: https://t.co/QHc4y3nkhv
Fisker Slashes Prices As Insolvency Nears $FSR #Fisker #Ocean #EV https://t.co/CdpndHOsjK via @TheDeepDive_ca
Fisker Slashes Prices on 2023 EV Models in Affordability Bid https://t.co/qvWzF3yUDa
For folks who don't follow the EV industry, just want to note that today's big story around @FiskerInc is a lot different than when @Tesla cut their EV prices last year. This is has the feeling of a fire sale after a lot of bad news over the past week: https://t.co/ifSayhTylq
Fisker slashes MSRPs of Ocean trims by tens of thousands as it fights to stay in business https://t.co/5mN2PSN1rA by @scooterdoll
EV makers offer deep discounts as Thai auto market weakens https://t.co/H3lM90doiN
Electric Vehicle Maker Fisker Delisted by NYSE Due to 'Abnormally Low' Price Levels https://t.co/RX573a7YVS