Fisker made electric cars, but the company shut down in 2024

Fisker was a car manufacturer that built battery-powered vehicles. The company stopped operating in June 2024 after running out of money, so you cannot buy a new Fisker car anymore. If you already own one, you can still drive it and get service through independent repair shops, though Fisker's own service network no longer exists.

The company's main vehicle was the Fisker Ocean, a mid-size electric SUV that started at around $38,000 before the shutdown. Fisker also announced plans for a smaller model called the Fisker Ronin, but it never reached customers. Understanding what happened to Fisker matters if you own one of their cars, are thinking about buying a used one, or are straightforward curious about why an electric vehicle company failed.

Key Takeaways

  • Fisker stopped making cars in June 2024 and no longer operates as a company, so new Fisker vehicles are not available for purchase.
  • The Fisker Ocean was their main product — an electric SUV with a range of roughly 250 to 310 miles per charge, depending on the model.
  • If you own a Fisker, you can still drive and maintain it, but you will need to use independent mechanics rather than Fisker's official service centers.
  • Used Fisker vehicles are now sold through auction and resale markets, often at significantly lower prices than they cost when new.

What the Fisker Ocean was and how it performed

The Fisker Ocean was a five-seat electric SUV that competed with vehicles like the Tesla Model Y and Hyundai Ioniq 5. It had a sleek design and came in two main versions: the Standard Range, which offered around 250 miles of range, and the Long Range, which offered around 310 miles. The Long Range version could accelerate from zero to 60 miles per hour in roughly 5.5 seconds.

Owners reported that the Ocean was generally comfortable for daily driving and highway trips. The interior had a large touchscreen, over-the-air software updates (meaning the car could receive new features wirelessly), and a minimalist dashboard design. However, some owners experienced software glitches, charging problems, and build quality issues in the first year of production. These problems, combined with Fisker's financial struggles, damaged the brand's reputation.

Why Fisker ran out of money

Fisker faced several challenges that led to its collapse. The company burned through cash faster than it could sell cars — it spent heavily on manufacturing, design, and marketing while sales remained lower than expected. The electric vehicle market became more competitive in 2023 and 2024, with established automakers like Ford, General Motors, and Volkswagen releasing their own affordable electric models. Fisker could not compete on price or brand recognition.

Supply chain problems and rising interest rates also hurt the company. Fisker had to borrow money to keep operating, and as interest rates climbed, borrowing became more expensive. By early 2024, the company was running out of cash and could not find new funding. In June 2024, Fisker filed for bankruptcy and stopped all operations. The company's assets, including unsold inventory and intellectual property, were later sold off.

What happens if you own a Fisker Ocean

If you currently own a Fisker Ocean, you can continue to drive it. The car will not stop working just because the company shut down. However, you will need to plan for maintenance and repairs differently than Fisker owners expected. Fisker's official service centers have closed, so you cannot take your car to a Fisker dealership for warranty work or routine service.

Independent mechanics and some Tesla service centers have begun offering repairs for Fisker vehicles, though availability varies by location. You may also be able to find parts through online retailers or salvage yards. Some owners have reported difficulty finding replacement parts, particularly for specialized components. If your car is still under warranty, Fisker's bankruptcy means those warranties are no longer honored by the company itself, though some credit card companies or third-party warranty providers may still cover repairs depending on your original purchase agreement.

Buying a used Fisker in the resale market

Used Fisker Oceans are now available through auction sites, online resale platforms, and some used car dealers. Prices have dropped significantly since the shutdown — cars that sold for $50,000 to $70,000 new are now often listed for $20,000 to $40,000. This price drop reflects both the company's failure and concerns about long-term support and parts availability.

Before buying a used Fisker, have an independent mechanic inspect it thoroughly. Check the battery health if possible, since battery degradation is a key concern with used electric vehicles. Ask the seller for service records and find out whether the car has had any major repairs. Research whether independent repair shops in your area can service Fisker vehicles, since this will affect your ownership experience. Consider whether the lower price is worth the uncertainty around future maintenance and parts.

How Fisker compares to other electric SUVs still in production

If you are shopping for an electric SUV and considering a used Fisker, it helps to know how it stacks up against vehicles still being made. The Tesla Model Y offers similar range and performance, costs more new but holds its value better, and has a large network of service centers. The Hyundai Ioniq 5 and Kia EV6 offer comparable range and price points, come with strong manufacturer warranties, and have dealer networks for service. The Ford Mustang Mach-E is another competitor with good range and Ford's service infrastructure behind it.

The main advantage of a used Fisker is price — you can get a capable electric SUV for significantly less money. The main disadvantage is the lack of manufacturer support and uncertainty about parts and service. If you value peace of mind and long-term support, a used vehicle from an active manufacturer may be worth paying more for. If you are comfortable with independent repair and want to save money, a used Fisker could work if you find one in good condition.

What to know about Fisker's battery technology

Fisker used battery packs made by other manufacturers, primarily LG Energy Solution. The Ocean's battery was a lithium-ion pack with a capacity of either 82 kilowatt-hours (in the Standard Range) or 112 kilowatt-hours (in the Long Range). These are solid, proven battery technologies used in many other electric vehicles.

Battery degradation is a normal part of owning any electric vehicle. Most batteries retain 80 to 90 percent of their capacity after five to eight years of normal use. If you are buying a used Fisker, ask the seller or dealer whether they can provide a battery health report. Some independent shops can run diagnostics on the battery to estimate its remaining capacity. Since Fisker no longer exists, battery replacement would be expensive and would need to be done by an independent shop rather than through a manufacturer program.

Frequently Asked Questions

Can I still charge a Fisker Ocean at public charging stations?

Yes. The Fisker Ocean uses a standard connector (either CCS or Tesla connector, depending on the model year) that works with most public charging networks. You can use apps like PlugShare or ChargePoint to find compatible stations. Charging speed and availability depend on your location and the type of charger, not on Fisker's existence.

Will my Fisker warranty still be valid after the company shut down?

Fisker's bankruptcy means the company no longer honors its warranties. However, check your original purchase agreement — some buyers had extended warranties through third-party providers or credit card companies that may still be valid. Contact your credit card issuer or the warranty provider directly to confirm coverage.

Where can I get parts for a Fisker Ocean?

Parts are available through online retailers, salvage yards, and some independent mechanics who specialize in electric vehicles. Common parts like brake pads and filters are easier to find than specialized electrical components. Call local shops before buying a used Fisker to confirm they can source parts in your area.

Is a used Fisker a good deal compared to other used electric SUVs?

The price is attractive, but weigh it against the lack of manufacturer support and potential difficulty finding service. If you are mechanically inclined or live near a shop that services Fiskers, the savings may be worth it. If you want the security of a manufacturer warranty and dealer network, a used Tesla, Hyundai, or Ford electric vehicle may be a better choice despite the higher cost.

What happens to Fisker's over-the-air update system?

Fisker's servers that delivered software updates have been shut down. Your car will continue to run on its last installed software version. You will not receive new features or security updates. This is a permanent limitation of owning a Fisker after the company's closure.