Written by Cláudio Afonso | LinkedIn | X
In recent weeks and months, Fisker customers have taken to social media to voice their worries regarding the availability of spare parts as the electric vehicle startup grapples with the looming threat of bankruptcy.
The company said in a statement that its suppliers “are obligated to provide 10 years’ worth of parts”.
The apprehensions center around whether Fisker can sustain an adequate supply chain for necessary repairs and maintenance for the over 7 thousand Fisker Oceans delivered so far.
Last week, InsideEVs reported, based on information from several former Fisker employees, that the company was ill-prepared to sell cars due to insufficient stockpiles of replacement parts in the U.S.
The lack of essential components has left many owners of Fisker‘s Ocean model in a bind, with the company resorting to unconventional measures such as cannibalizing parts from other vehicles to meet repair demands.
However, Martin Miller, head of Fisker’s dealer partner in the UK EVExperts, has stepped in to alleviate these concerns.
Speaking to CarDealer, Miller reassured customers that the availability of parts and support would remain stable even if Fisker ceases production. He highlighted that many of the mechanical components in Fisker vehicles are sourced from well-known suppliers like Bosch, ensuring a secondary market for these parts.
“A lot of the mechanical components in these cars are coming out of sub-suppliers like Bosch, so there will be a cottage industry that will keep these things going,” Miller explained. He further stated that Fisker has already amassed a considerable stockpile of parts, ensuring that maintenance support can continue without disruption.
Miller emphasized to CarDealer the stability of the company’s arrangement, describing it as a “traditional agency model,” and expressed optimism about the positive impact this could have on the business.
In response to the claims made by former employees, Fisker has firmly denied any shortcomings in its parts inventory planning. A spokesperson for the company told InsideEVs, “This is false. Our service department did plan for and establish a parts inventory.”
“The inventory forecast was made by the service team, and the purchasing department supported those requests. Our suppliers are obligated to provide 10 years’ worth of parts,” the company added.
Fisker has been facing significant financial challenges with the latest one being a default on its senior secured note due in 2024, a 8K form filed on Tuesday afternoon revealed.
Fisker sold 12 vehicles in Germany in May, a significant drop from the 30 units sold in April, according to official data released on Wednesday.
The company delivered 24 cars and a total of 80 in the first quarter of the year. Fisker’s year-to-date sales in the country now total 122 units as of the end of May.
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The company’s annual report filed in April disclosed the delivery of over 6,400 Ocean SUVs since May 2023, when deliveries began in Denmark. “Our first model, the all-electric Fisker Ocean, has already garnered numerous awards for its design. As of April 16, 2024, the company has delivered over 6,400 Oceans,” Fisker stated.
In late February, Fisker reported the production of 10,193 units and the delivery of 4,929 vehicles, indicating that more than 1,471 vehicles were delivered globally from January 1 until April 16.
The company entered into a Securities Purchase Agreement on May 10, with CVI Investments, Inc., resulting in the sale of a $3.456 million senior secured note in a private offering.
Earlier this week, Fisker announced that its second dealer partner in the United Kingdom has now received inventory.
In a bid to remain visible, Fisker attended the Electrify Expo in California last weekend, providing test drives to attendees. Additionally, the company’s CEO, Henrik Fisker, is set to break months of silence amid the financial turmoil by participating in the Economic Times Auto Tech Summit later this month.
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Fisker has been drastically reducing its workforce in an effort to stave off bankruptcy. A major workforce reduction was announced to U.S. employees on Thursday, which was quickly extended to its Canadian operations, leaving the company with a skeletal crew.
In Belgium, Fisker announced in an email last Friday that its Fisker Center+ in Rumst would close on June 1. Despite this closure, the company remains a tenant of the location and is actively seeking solutions to reopen the facility while negotiating a buyout deal.
The financial instability has also led to changes in services provided by Fisker. In late May, the company informed its U.S. customers of the discontinuation of its roadside assistance service, mirroring a similar announcement made earlier in the month for its European customers.
In West Covina, California, where Fisker has dealership partners, around 40 units of the fully electric SUV, available in both Extreme and Ultra variants and starting at $34,999, are currently on display.
This strategy, which significantly lowers operating expenses, requires customers to search for available inventory in states where Fisker has partnered with dealerships.
Written by Cláudio Afonso | LinkedIn | X
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The post Fisker Denies Claims of Parts Shortage, Ensures 10-Year Supply first appeared on EV.