On June 19th, Gelonghui reported that Fisker (FSRN.US), a US electric vehicle startup once known as Tesla's rival, suffered a stock price collapse yesterday, plummeting 54.88% to close at $0.02 per share. It has fallen by about 99% this year and was once as high as $31.96 per share three years ago. Lucid and Rivian, both new competitors in the auto industry, have experienced similar drops of around 95% from their all-time highs. On the news front, Fisker recently applied for bankruptcy protection after failing to secure investment from a major auto manufacturer. After trying to increase production of its only product, the Ocean SUV, which consumed a lot of capital, the company hopes to save its business by selling assets and restructuring its debt. According to Fisker's bankruptcy application, the company has assets of approximately $500 million to $1 billion and debts of $100 million to $500 million, with an estimated number of creditors ranging from 200 to 999, including SAP, Adobe, Salesforce and Ansys. It is reported that in 2023, Fisker produced a total of 10,000 cars, but the delivery volume was less than half. By the end of 2023, Fisker's total assets were $1.832 billion, while its total liabilities were as high as $1.93 billion, leaving it insolvent.