Fisker

Fisker Inc., Henrik Fisker's second EV attempt (after Fisker Automotive failed in 2013), went public via SPAC and launched the Ocean SUV. Despite strong initial reservations, the company struggled with manufacturing quality, software bugs, and cash burn. The Ocean SUV suffered from braking issues, random shutoffs, and interface glitches that tanked consumer reviews. Fisker couldn't ramp production fast enough while simultaneously fixing quality issues. By early 2024, the company had burned through most of its cash, tried and failed to find a buyer (Nissan walked away), and filed for bankruptcy. The lesson: in automotive, you get one chance at a first impression, and software-defined vehicles require software competence that many hardware-focused teams lack.