Fisker faces more bad news as the SEC starts investigating its business practices

The previous week hasn’t been the kindest to the electrical automobile trade. Now, it’s capped off with information that the EV startup Fisker is the topic of an investigation from the US Securities and Change Fee (SEC).

reported that SEC officers despatched a number of subpoenas to Fisker. The submitting doesn’t particularly say what the subpoenas are asking for or wanting into however it’s clear that the SEC has launched an investigation into the floundering EV maker that .

Fisker has been struggling to maintain its head above water ever since final yr’s disastrous rollout of its Ocean SUV that failed to attain quite a lot of 1000’s sellers although it produced effectively over 10,000 items. Following its This fall earnings report final yr that noticed a gross margin lack of 35 %, the automotive maker introduced it will lay off 15 % of its workforce the next March because it shifted to a direct-to-consumer gross sales technique.

A Fisker spokesperson declined to touch upon the matter to TechCrunch saying they may not “touch upon the existence or nonexistence of a doable investigation.”

Fisker isn’t the one EV maker to endure a noticeable setback. Tesla noticed a significant stumble with .