Fisker is collapsing after smoldering review
Back in 2020, electric vehicle maker Fisker went public at a $2.9B valuation, with eyes set on outselling Tesla. Fast forward four years, and the company is teetering on the edge of bankruptcy — having sold just 4.7K vehicles. And making matters worse, one of YouTube’s biggest tech reviewers, Marques Brownlee (known as MKBHD), sent its stock plummeting after calling its flagship vehicle “the worst car” he’s ever tested.
- Brownlee’s review has garnered over 4M views, coinciding with a more than 50% drop in the stock price since its release.
- The negative review has caused upheaval at Fisker, with the company promising to push a new software update to make the vehicle “markedly better.”
History repeats itself: Fisker Automotive was one of America’s first plug-in hybrid and EV companies, but it went bankrupt in 2014 after failing to sell its first hybrid car, the Fisker Karma. Despite a restart by Henrik Fisker in 2016, the company is once again in troubled waters, given the exodus of executives and going concern warning. We may already know how this story ends — after all, it already happened a decade ago.
