Thursday, March 28, 2024

Report: Fisker Lost Track Of Customer Payments, Has Audit Crisis

A report this morning says that struggling Los Angeles-based EV maker Fisker Automotive lost track of millions of dollars of customer payments last year, and has been tied up in an internal, auditing crisis trying to track down where those payments went. According to the report, Fisker lost track of "down payments and in some cases, the full price of the vehicles", because of "lax internal procedures" for keeping track of them. The report said the audit also involved the company's outside auditor, PwC, and that all the disarray meant the company allegedly "couldn’t accurately say how much revenue it had generated".