Fisker is in a state of disarray right now. The company continues to inch closer to bankruptcy, and the only car it sells right now, the Ocean EV, just had prices on its remaining inventory heavily slashed as the automaker attempts to move more metal in the face of falling stock prices. What’s been going on behind the scenes of the company, however, is much worse. A report from TechCrunch details how Fisker lost millions in customer payments, forcing an internal audit to find the money.
The troubles with Fisker started in late 2023. SEC filings show the company reported having internal accounting issues. Simply put: Fisker didn’t have enough accountants to go over its books, as the filing highlights. Speaking as someone with an accounting and finance background, a company the size of an automaker should have at least dozens or even hundreds of accountants, each working together to keep track of the company finances as well as acting as each other’s backup in case something like this goes wrong. Also mentioned in the filing was an even problem as TechCrunch pointed out.
In that same filing, Fisker revealed a second material weakness involving…
