2023 Fisker Ocean on 2040-cars

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Fisker recalls all 2023 Oceans, but for a rather weird reason

Recalls come in all sizes and styles, and that's actually the crux of this recall for all 2023 Fisker Oceans. Yes, the recall, according to NHTSA documentation, affects every single one of the 6,864 examples of 2023 Oceans on the road. But the good news is that, rather than something that could cause a crash or severe injury, this is for fixing the fonts and colors of some warning lights. You see, the Federal Motor Vehicle Safety Standard code dictates the size and style of font for warning lights, as well as the colors for said lights, with each color corresponding to certain warnings and their importance. All automakers have to follow these rules, and when they're incorrect, they need to be fixed. In the case of the Ocean, the recall notes that the font size for the brake, park and ABS warning indicators were too small, the brake warning lights were in amber and not red, and some of the tire pressure warning light operation weren't correct. These do sound nitpicky, and unsurprisingly, no injuries or damages have occurred due to this issue, but the regulations are in place to ensure that warnings are universally understandable, and that they're in colors and sizes that are easy to read and understand. The good news is that all of these will be rectified easily. The warning lights display on the car's screens, so an over-the-air update will go out with revised font sizing, colors and operation. All of this should bring the Oceans into federal compliance. And of course the update will be completely free, and because it's over-the-air, won't require a trip to a dealer or service center. Letters will be sent to owners on June 30 to alert them to the recall, and customers with questions can call Fisker at 1-844-347-5371 with regard to recall number TSB70062404.

Henrik Fisker teases more pictures of the EMotion EV

Luxe-green-vehicle pioneer Henrik Fisker said earlier this week that he will unveil a prototype of his EMotion electric vehicle this summer. He also reiterated that the car will have at least a 400-mile single-charge range. And he tweeted an image showing off the sedan's dihedral (also known as "butterfly") doors. The car is expected to start sales sometime next year. Fisker followed up that tweet with another noting that the car's carbon and aluminum structure will cut the EMotion's weight relative to similar vehicles by 20 percent. He also touted the vehicle's "extreme low hood," which will certainly help aerodynamics as well as the car's sportiness. Fisker started teasing images last fall, subsequently noting that the car will have a top speed of 161 miles per hour and adding that the car will be roomier than its sleek profile would suggest. As for the unveiling timetable, the EMotion's debut as a prototype would take place about a month after Tesla's planning to start deliveries of its Model 3. A cool summer indeed. Fisker is better known among green-car aficionados as the founder of Fisker Automotive. That company made the high-end extended-range plug-in vehicle Karma, which was favored by such luminaries as Leonardo DiCaprio and CeeLo Green. After the company went bankrupt in 2013, its assets were acquired by China-based Wanxiang, and the company has been relaunched as Karma. That automaker's four-door Revero extended-range plug-in, which is estimated to be able to go as far as 50 miles on electricity alone, is also scheduled to debut this year, with an MSRP of about $130,000. Related Video: News Source: Henrik Fisker/Twitter via InsideEVsImage Credit: Henrik Fisker/Twitter Green Fisker Hybrid extended-range plug-in henrik

EV startups are about to report another quarter of fierce cash burn

U.S. electric-vehicle startups are expected to report another quarter of dwindling cash reserves next week, piling pressure on a group of companies that are struggling to ramp up production and have few options for funding in a turbulent economy. Having gone public with hopes of shaking up the automobile industry, these companies have seen their market valuations evaporate in the past few months as EV demand slows and market leader Tesla Inc cuts prices to stoke orders. Lucid Group kicks off first-quarter earnings for the group on Monday, with the company expected to report a 36% sequential slide in cash reserves, according to Visible Alpha. Rivian Automotive, meanwhile, will likely report on Tuesday that its cash balance fell by 6.8% to $10.78 billion from the preceding quarter, per a Visible Alpha estimate. The Amazon.com Inc-backed firm, whose shares have declined by nearly a quarter this year, is also expected to report a larger loss of $1.75 billion as both deliveries and production fell in the period. It posted a $1.59 billion loss a year ago. Fisker Inc and Nikola, both of which report earnings on Tuesday, are expected to see their cash reserves decline by 5% and 15%, respectively, according to Visible Alpha. "Any company that's losing money with a low valuation is toast and EVs are no exception. I think it is just a slow bleed. Maybe they'll get lucky and some of their technologies maybe bought by bigger players," said Thomas Hayes, chairman of hedge fund Great Hill Capital. A drop in valuations of companies has rendered selling equity for precious cash more ineffective and investors are becoming increasingly unhappy with their stake being diluted as several startups are yet to recognize revenue from operations. British EV startup Arrival SA and Nikola have issued going-concern warnings in the past few months, with the former set to merge with blank-check firm Kensington Capital Acquisition Corp in a bid to raise cash. Lordstown Motors said this week it could be forced to file for bankruptcy due to uncertainty over a funding deal with major shareholder Foxconn. Its earnings in an unscheduled release on Thursday showed Lordstown's cash balance fell 11% sequentially. Some of the companies including Lucid and Rivian have also said they would not provide data on reservation numbers going forward, sparking some concern among investors. It is a "disturbing development," CFRA Research analyst Garrett Nelson said.