Fisker Buyer Will Pay for Critical EV Service Data, Saving Bankruptcy Deal

The move may offer a lifeline to owners, after Fisker told the company buying its leftover stock that it couldn't transfer vehicle data to new servers.
Fisker, Inc.

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Operational costs always get passed down to consumers. Like death and taxes, it’s just going to happen. Fisker Ocean buyers, however, have suffered more, navigating not only taxes but recalls, the death of their car’s maker, and the lack of vehicle parts and support. But the storm looming in the distance might be clearing, at least in terms of post-bankruptcy service.

Fisker finally received bankruptcy court approval of its liquidation plan on Friday. The path wasn’t easy, particularly when the U.S. Securities and Exchange Commission began an investigation into its mishandled record keeping. With the court go-ahead, American Lease, a fleet company desperate to buy Fisker’s remaining inventory, can proceed with its $46 million purchase of some 3,000 Ocean EV SUVs. 

American Lease gets the product, and creditors assume the intellectual property. That’s the storybook ending. Ha, just kidding. When the Fisker name has become synonymous with failure, of course, it’s never that simple.

The initial deal included the EVs, but not their data. Without the accompanying data, the Ocean SUVs would be helpless in terms of any kind of tech support. The vehicles can be driven, sure, but over-the-air software updates, remote access, and diagnostics would be gone—forever. Why couldn’t Fisker transfer that data to new servers? Because its coffers are that empty. It’s broke broke.

So, at the 11th hour, American Lease agreed to pay another $2.5 million over five years to access that information. This step is significant, not just for the New York-based company’s own fleet, but also for Ocean drivers who have been understandably worried about the Fisker afterlife. When a manufacturer folds, services you used to rely on aren’t exactly a sure thing anymore. 

This isn’t to say that American Lease has promised to provide repairs and such to existing Ocean owners as a de facto service provider. That’s unlikely. If anything, owners at least won’t be completely stranded, and could potentially have access to their own vehicle’s data should they seek tech support. Where does that help come from, though? Who knows? That’s an internet rabbit hole for another day.

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