Featured Death of a Fisker Ocean EV

definitely not liberty mutual...

 

Another Fisker story: Henrik Fisker’s LA Home Worth More Than His EV Company | Carscoops

They say that real estate is a safe investment, and Henrik Fisker is living proof. The founder and CEO of the struggling EV company is selling his Los Angeles home for $35 million. For those keeping track, that’s $8 million more than the current value of his company, Fisker Inc.

As of this writing, the troubled automaker’s stock is valued at just a little over 5 cents per share, resulting in a market capitalization (the total value of every available share in a company) of $26.8 million. This low valuation comes as a result of tumultuous start to 2024, during which its stock fell by more than 96 percent, leading to the company’s delisting from the New York Stock Exchange.​

Bob Wilson

 

He’ll eventually start another company with new backers

 

It was more than a ding, with hinge and possible frame damage. A ding could be repaired without parts from the manufacturer.

 

The Stock market isn't 'legal gambling'....

....it's more like "natural selection."

 

I can't imagine that there is not a single body shop in that town with the abilities to rebuild fiberglass panels. Or sheet metal. Or carbon fiber.

They may be expensive, but fabricators do this kind of work all the time.

 

That's not the point of the story.
This isn't about the car.
It's about the insurance company.
They didn't want to be on the hook for the coverage for FUTURE incidents.

Think about it.
The insurer cut a check for $53k to the owner (probably FAR from making them whole on their investment!)
That means that the blue jelly-bean shaped car on the skid truck is now only worth about $20k in parts - maybe and there's now about a ZERO percent chance that anybody else driving the things are going to get their coverage renewed.

Perhaps, but not a BEV car company.
Not with the stank of being the Delorean Car Company of the 2020s.

Still....
I'll take a hundred shares of his future company!
....at a penny apiece.

 

The point of the story is click bait, not insurance

 

Time will tell.

Insurance rates are probably fairly cheap for your Bolt because there are lots and lots of GM dealers out there and there is a commonality of parts with whatever cars (Sonics?) were built on the same platform.

If the insurance company has to foot the bill for repairs, there is a fairly predictable liability burden.
Otherwise?
Yeah - you'll get Fiskered...

 

Insco’s don’t go into underwriting blindly

 

Many poor decisions are made in plain sight, not in blindness.

Often bank failures are the result of buddy-buddy transactions.

 

Maybe the car owner owned the insco