EV Maker Fisker Files for Chapter 11 Bankruptcy Following Cash Burn and Regulatory Hurdles

U.S. electric vehicle maker Fisker has filed for Chapter 11 bankruptcy protection to restructure its debts and sell its assets in the wake of significant financial challenges. These issues included a rapid cash burn while trying to deliver its "Ocean" SUVs in the U.S. and Europe, compounded by a failed investment deal with a major automaker. Fisker also faces regulatory investigations and has had to cut its workforce and pause future projects.