Electric car owners in the UK are facing a major challenge after Fisker, a Californian-based vehicle manufacturer, declared bankruptcy in June.
The company’s closure has left many owners stranded, with some potentially losing up to £70,000 on their vehicles.
The brand, known for its Fisker Ocean model, had promised long-range electric vehicles, but many drivers have encountered serious problems with their cars.
From brake failures to battery issues, these vehicles are quickly becoming unusable, and without any company support, owners are left in a tough spot.
Defective Cars and Vanishing Support
Several Fisker car owners have reported troubling issues with their vehicles.
One of the most alarming stories comes from a driver whose Fisker Ocean’s brakes failed, leaving them stranded in a dangerous situation in the middle of an intersection.
Many others have encountered rapid battery drain, with some vehicles unable to travel the advertised range on a single charge.
As the company’s financial troubles mounted, support from Fisker’s UK representatives diminished, leaving customers frustrated and without answers.
Kevin Mulligan, who leased a Fisker Ocean, struggled to get his car repaired.
Every time he made progress, the salesperson or engineer he was working with was laid off.
The lack of proper after-sales service has now left him with little recourse.
While Mulligan was able to return his car through his leasing company, those who purchased their vehicles outright may not be so lucky.
The Collapse of Fisker: A Short-Lived Venture
Fisker’s bankruptcy marks the end of a company that was founded by Danish car designer Henrik Fisker in 2016.
Despite ambitious plans and the release of the Fisker Ocean SUV in 2023, the company struggled to gain traction.
The initial excitement around Fisker’s electric vehicles quickly faded as production issues, parts shortages, and financial mismanagement took their toll.
To save the business, Fisker’s CEO and his wife even took drastic salary cuts, with Henrik dropping his wage to just $1.
However, it wasn’t enough to prevent the company’s stock from plummeting 85% in the weeks leading up to its bankruptcy.
In just a year, Fisker’s presence in the UK was short-lived, with only 259 vehicles registered by British owners in 2024.
With the government’s ban on new petrol and diesel vehicles looming in 2030, the UK electric vehicle market is becoming increasingly competitive.
New car companies are emerging, promising better designs and longer ranges, but many of them, like Fisker, are struggling to overcome supply chain issues and meet consumer expectations.
A Glimmer of Hope: The Fisker Owners Association
After the company’s closure, a group of around 40 dedicated Fisker owners, including software developers and former employees, formed the Fisker Owners Association (FOA) to try and address some of the issues with the cars.
The FOA has partnered with American Lease, which purchased Fisker’s remaining inventory, to provide continued software support for the vehicles.
This partnership, worth £2 million, includes access to vehicle data in the cloud, allowing the FOA to perform necessary updates and keep the cars operational for at least five more years.
While this temporary solution gives owners hope, the future remains uncertain.
José De Bardi, a member of the FOA, admits that there is no clear plan for what will happen after the five-year deal ends.
For now, owners are reassured that, if the software updates stop, the car will still function, though its digital capabilities will be lost.
The Bigger Issue: Protecting Future Electric Car Buyers
The collapse of Fisker highlights a larger issue in the electric vehicle market: the need for stronger protection for buyers.
With the increasing reliance on software to run these vehicles, many owners are now left with cars that are difficult, if not impossible, to repair.
To prevent this from happening to other early adopters, Kevin Mulligan is calling for stricter regulations, including a government-backed certification to ensure electric vehicles are thoroughly tested and safe for use on UK roads.
As electric cars continue to grow in popularity, consumers need more assurance that their investments will be protected.
The lack of support for Fisker owners could serve as a warning for others in the market, making it clear that stricter policies and better consumer protections are essential for the future of electric vehicles.
Looking Ahead: A Cautionary Tale
Fisker’s bankruptcy is a cautionary tale for the electric car industry, and it raises important questions about the sustainability of newer vehicle manufacturers.
The company’s downfall has left many owners facing a future with potentially undriveable cars and massive financial losses.
As the electric vehicle market continues to grow, it will be crucial for consumers to demand more accountability from manufacturers to ensure their vehicles remain operational and supported long-term.
This article was published on TDPel Media. Thanks for reading!
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