In a major blow to the electric vehicle (EV) industry, Fisker has filed for bankruptcy again, citing financial struggles and market competition. The scathing review from MKBHD didn’t help either. This is Fisker’s second bankruptcy, the first in 2013, and follows the launch of its flagship EV, the Fisker Ocean.

• Fisker isn’t the only EV manufacturer facing problems, with TeslaTSLA
  still struggling with long-standing production woes.
• Increased competition from legacy automakers and the slow creep of new Chinese entrants are also factors.

If you’re not selling, you’re being sold: Despite government incentives to boost EV adoption, Fisker’s inability to attract demand is stark. With over 4.7K vehicles in its inventory and just 122 sales year-to-date, it’s more than just “market and macroeconomic headwinds” affecting Fisker (Axios). The bankruptcy raises questions about the viability of new entrants in the competitive EV market, especially as established players begin to dominate. With marketing gimmicks like ‘the Apple of EVs’ and a confusing mix of consumer and dealership sales routes, it seems sales aren’t Henrik Fisker’s strong point. But hey, if all else fails, you can always sell cheap to your employees, right?