- Bankrupt Fisker seeks court approval to sell its remaining 3,231 Ocean EVs to American Lease for $46.3 million.
- Prices vary depending on condition: $16.5k for “good working order” vehicles, as low as $2.5k for damaged ones.
- Fisker won’t honor warranties and has no obligation for repairs or updates, but will provide software updates.
Fisker has recently filed for bankruptcy, marking the end of a long period of financial struggles. As part of this process, the company is looking to sell its remaining inventory of 3,231 Ocean electric vehicles to a leasing firm for a total of $46.3 million.
The prospective buyer is New York-based American Lease, which initially signed up for 2,100 Oceans but later increased the order to 3,321 units. While the two parties have agreed, the deal still requires court approval. According to the documents, Fisker won’t be able to fund payroll and taxes if the buyout is not approved by July 12, highlighting the urgency of the matter.
More: Fisker Heading To Liquidation, Owes $850 Million To Bondholders
If you do the math, the bulk sale price for each Fisker Ocean averages to $14,330 per vehicle, the actual price for each vehicle will largely depend on its condition.
The court filing mentions a price tag of $16,500 for each of the 2,711 EVs that are in “reasonably good working order” and have a “Manufacturer’s Certificate of Origin”. A total of 351 previously titled vehicles will be significantly cheaper, offered at $3,200 each.
Finally, a few damaged examples of the Fisker Ocean will be sold for as low as $2,500. However, to fall into this category, an EV must have ‘mechanical, cosmetic, or other damage or defects that require repair,’ with repair costs ‘reasonably estimated in excess of $5,000.’
While those prices sound like a sweet deal for the leasing firm, the downside is that Fisker won’t honor any warranties and has no obligation for repairs, updates, or maintenance.
“Still, the damaged examples could serve as a valuable source of parts for the leasing fleet, keeping them on the road longer. Furthermore, Fisker will provide American Lease with ‘all relevant source code’ and ‘existing developer work’ for the software, enabling the firm to perform necessary updates itself. Another part of the document mentions that American Lease shall reimburse Fisker for the costs associated with the Software v2.1 update.
The Fisker Ocean saga started with a price range of $40-70k when it first went on sale, dropping to a discounted $25k earlier this year as the company desperately needed to pay its debt. If approved, the new deal would mark an all-time low for the fully electric SUV that once aspired to compete with the Tesla Model Y.
