Fisker's Bankruptcy Leaves Investors Asking Hard Questions About EV Viability
Fisker's Bankruptcy Leaves Investors Asking Hard Questions About EV Viability
Electric vehicle manufacturer Fisker Inc (OTCPK: FSRN), once a market darling, filed for bankruptcy on Monday. What does Fisker's bankruptcy mean for an EV market facing mixed signals?
電動汽車製造商菲斯克公司（OTC場外交易：FSRN），曾經是市場寵兒，於週一申請破產。對於面臨混亂信號的電動汽車市場來說，菲斯克的破產意味着什麼？
What Happened: Put simply, Fisker bled money. The Manhattan Beach, California-based company had significant cash flow and manufacturing problems. It never came close to profitability as high costs eclipsed low consumer demand.
發生了什麼：簡單地說，菲斯克虧損嚴重。這家位於加利福尼亞州曼哈頓海灘的公司面臨重大的現金流和製造問題。由於高成本壓過了低消費需求，它從未接近盈利。
In March, it was reported that more than 40,000 Fisker customers canceled their vehicle pre-orders, a significant portion of its backlog.
據報道，今年三月，超過4萬名菲斯克顧客取消了其車輛預訂，這是其訂單積壓的重要部分。
In April, the National Highway Traffic Safety Administration (NHTSA) initiated a preliminary regulatory probe into the Ocean vehicles after receiving complaints that the vehicles' doors did not open properly.
今年四月，美國國家公路交通安全管理局（NHTSA）在收到投訴稱該公司的Ocean車型的車門無法正常打開後，啓動了對Ocean車型的預審監管調查。
On June 13, the company announced that it would recall 18,000 Ocean SUV vehicles over software and safety compliance issues. The Ocean SUV was the only Fisker vehicle in production.
今年6月13日，該公司宣佈將召回1.8萬輛Ocean SUV汽車，原因是軟件和安全合規問題。Ocean SUV是菲斯克唯一正在生產的車型。
At its peak in 2021, Fisker reached a market capitalization of nearly $8 billion. The company is now worth almost zero.
在2021年的巔峯時期，菲斯克的市值曾達到近80億美元。而現在，該公司價值接近於零。
Remaining Players: The most obvious EV pure plays include Tesla Inc (NASDAQ:TSLA), Rivian Automotive Inc (NASDAQ:RIVN) and Lucid Group Inc (NASDAQ:LCID). Tesla is profitable, albeit trading at a PE of 47; Rivian and Lucid have distressed balance sheets and could face bankruptcy. Arrival SA and Lordstown Motors were recent victims of bankruptcy.
其餘參與電動汽車市場的純電動遊戲玩家包括：特斯拉公司（納斯達克股票代碼：TSLA），Rivian汽車公司（納斯達克股票代碼：RIVN）和Lucid Group公司（納斯達克股票代碼：LCID）。特斯拉是盈利的，儘管市盈率高達47倍；Rivian和Lucid面臨苦惱的資產負債表和可能面臨破產的風險。Arrival SA和Lordstown Motors是最近的破產受害者。
Among the foreign manufacturers still in the market are Li Auto Inc (NASDAQ:LI), Nio Inc (NYSE:NIO), VinFast Auto Ltd (NASDAQ:VFS) and BYD Company's (OTC:BYDDY) auto division.
在市場上仍存在的外國製造商包括：“理想汽車”（納斯達克股票代碼：LI），蔚來公司（紐交所股票代碼：NIO），VinFast Auto Ltd（納斯達克股票代碼：VFS）以及比亞迪股份公司的汽車部門（OTC場外交易股票代碼：BYDDY）。
Industry Implications: Investors have been increasingly pessimistic about the EV industry, as share prices of major EV companies have fallen sharply in recent years. American consumers seem reluctant to drive electric vehicles, and several other obstacles have delayed the electric transformation.
行業影響：由於主要電動汽車公司的股價近年來大幅下跌，投資者對電動汽車行業的悲觀情緒日益加劇。美國消費者似乎不願意駕駛電動汽車，還有幾個障礙妨礙了電動汽車的轉型。三大汽車製造商Ford Motor Co（紐約證券交易所代碼：F），General Motors Co（紐約證券交易所代碼：GM）和Stellantis NV（紐約證券交易所代碼：STLA）均花費數十億美元開發電動車隊。儘管它們面臨與純電動遊戲玩家類似的問題，但考慮到現有的燃油汽車業務，它們的基礎業務是盈利的。
The Big Three automakers — Ford Motor Co (NYSE:F), General Motors Co (NYSE:GM) and Stellantis NV (NYSE:STLA) — have all spent billions in developing electric fleets. Although they have faced similar issues to the EV pure plays, their underlying businesses are profitable given their existing gas-powered vehicles.
儘管市場看跌許多電動汽車參與者，但一些專家，包括Deepwater Asset Management的合夥人Gene Munster，仍然持樂觀態度。Munster在X上發佈的內容：“菲斯克的故事是一家失敗的公司的故事，而不是一個失敗的行業的故事。”
Although the market has soured on many electric vehicle players, some experts, including Deepwater Asset Management managing partner Gene Munster, remain optimistic.
“我預計，今年電動汽車的需求將與2023年基本持平，這在很大程度上是因爲需求從2019年提前到2023年，以及電動汽車成本的增加。”Munster繼續指出，“到2025年，我預計這一趨勢將扭轉過來，整個電動汽車市場將再次擴大市場份額。原因是自由市場的“無形之手”越來越多地認識到，電動汽車是移動的更有效方式。
"The Fisker story is one of a failed company, not of a failed industry," Munster posted on X.
同行中仍存在的EV生產商包括特斯拉、Rivian和Lucid Group等公司。
"I expect EV demand will be flat-ish this year versus 2023, in large part due to a pull-forward in demand from 2019 to 2023, and in small part due to the higher costs of EVs," Munster continued.
儘管市場看跌許多電動汽車參與者，但一些專家，包括Deepwater Asset Management的合夥人Gene Munster，仍然持樂觀態度。Munster在X上發佈的內容：“菲斯克的故事是一家失敗的公司的故事，而不是一個失敗的行業的故事。”
"In 2025, I expect the trend to reverse and the broader EV market to gain share once again. The reason is that the invisible hand of the free market will increasingly recognize that EVs are a more efficient way of moving around."
“我預計，今年電動汽車的需求將與2023年基本持平，這在很大程度上是因爲需求從2019年提前到2023年，以及電動汽車成本的增加。”Munster繼續指出，“到2025年，我預計這一趨勢將扭轉過來，整個電動汽車市場將再次擴大市場份額。原因是自由市場的“無形之手”越來越多地認識到，電動汽車是移動的更有效方式。
Also Read: Elon Musk Lures Tesla Employees With Stock Awards After His $56B Pay Package Receives Shareholder Backing: Report
另請參閱：《伊隆·馬斯克在股東投票支持之後，用股票獎勵吸引特斯拉員工》
Photo: T. Schneider on Shutterstock
照片：Shutterstock上的T. Schneider
譯文內容由第三人軟體翻譯。