Record bankruptcy in Graz

1.3 billion in liabilities: car manufacturer Fisker insolvent

The Austrian company of the e-car manufacturer Fisker - based in Graz - is insolvent. According to Kreditschutzverband von 1870, its liabilities amount to 1.34 billion euros. Probably the biggest bankruptcy in Styria. Restructuring proceedings with self-administration were opened on Wednesday.

The dimensions of the car manufacturer's insolvency are gigantic. The Austrian company of the US-Danish electric car manufacturer Fisker has filed for insolvency. According to KSV1870, the company based in Graz now has liabilities amounting to an incredible 1.34 billion euros (book value), while its assets are said to be 959 million euros.

Decline in demand to blame for bankruptcy
According to KSV 1870, the applicant is currently unable to maintain its solvency due to the inflow of liquidity generated by its own business. This is attributed not least to a sharp decline in global demand for electric vehicles, high interest rates and price wars between various electric car manufacturers.

Fisker has the "Ocean" electric car built at Magna in Graz - but production has been stopped for some time. This should now mean the end for good.