ICYMI: Henrik Fisker’s improbable electric SUV starts production — via drivingdotca NewVehicles LuxuryVehicles ElectricVehicles
That blemish on his résumé made funding a follow-on car business difficult, at least for a few years. He and his wife and co-founder, Geeta Gupta-Fisker, were forced to stop collecting cash compensation from Fisker and furlough employees right before the outbreak of COVID-19 was declared a pandemic in March 2020.
Then, something funny happened: Ventures with little or no revenue began generating enormous buzz by merging with special purpose acquisition companies and going public.made its stock market debut and briefly exceeded Ford’s valuation , Fisker agreed to combine with a SPAC sponsored by private equity giant Apollo Global Management Inc. in a deal that left the carmaker flush with roughly US$1 billion in cash. The Fiskers parlayed that sum and big-name backing into pacts with the auto industry’s most reputable contract manufacturer, Magna Steyr, and the world’s largest battery company, Contemporary Amperex Technology Co. Limited.
“We’ve been able to avoid mistakes that are only unavoidable if you know them, and I knew them,” Fisker said in an interview. “The experience that I had by having done this once before is invaluable.” Even after having racked up more than 63,000 reservations for the Ocean, investors are still treating Fisker the company as a wait-and-see stock, having been burned by Nikola,
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