Fisker

Fisker's Ocean SUV generated $1 billion in revenue within its first production year, but the company filed Chapter 11 in 2024, revealing harsh capital requirements in EV manufacturing. Its asset-light model outsourced production to Magna Steyr, saving 40% on factory costs compared to rivals like #7 Proterra, but ultimately proved unsustainable. The Ocean achieved a 350-mile EPA range, 10% better than the category average for midsize EVs, but cash burn outpaced sales by 3:1.