(Reuters) – Fisker has asked the bankruptcy judge overseeing its Chapter 11 proceedings to approve the sale of more than 3,000 electric Ocean SUVs from its inventory for about $14,000 per car to an auto leasing company.
After a judge gave the green light, Fisker can sell 3,321 electric vehicles to New York-based American Lease for $46.25 million, according to a court filing Tuesday.
The electric car startup, which filed for bankruptcy protection last month, has struggled with logistical issues selling its electric Ocean SUVs and switched to a dealer-partner model earlier this year after spending a large sum of cash.
Some variants of the Ocean SUV cost around $70,000 and when the company went bankrupt, it lowered prices on the cheapest variant to around $25,000 to raise capital to meet debt obligations.
On May 30, two weeks before Fisker filed for Chapter 11 bankruptcy protection, American Lease agreed to purchase 2,100 Ocean EVs and a month later increased that offer to purchase all 3,321 Oceans that were ready for sale.
American Lease serves ride-sharing drivers in and around New York City, offering a fleet of cars for lease or rental. New York City last year mandated that the city’s ride-sharing fleet transition to zero-emission or wheelchair-accessible vehicles by 2030.
(Reporting by Akash Sriram in Bengaluru; Editing by Shounak Dasgupta)
