Fisker IP Buyer? Plus What Shuts Off Without the FOA?

[@BryanA3115]

Adam - thank you for all the work you've done over the last few years covering Fisker. I've been watching since the beginning and I appreciate all the honest and blunt information, even when it wasn't necessarily something shareholders wanted to hear. I've been waiting to send this to you because I was waiting until Fisker as the company that existed was 100% done. You were correct all along with your reporting and although I wish I came to the realization sooner to sell my shares, I'm glad I never went through with the Ocean purchase I was very close to doing. I appreciate your continued videos supporting the adoption of EVs. I can't wait to get my 1st one.

[@Aslash304]

Let me know which one you get! I’d be more than happy to answer any questions you have while you’re on your journey. Thanks for tuning in, Cheers!

[@BryanA3115]

@Aslash304 thanks Adam! I have a reservation for an R2. Considering I'll be moving from a 2013 GMC Sierra, I'm really looking forward to it. Still a bit of time between now and then, so I may end up leasing and EV to bridge that gap.

[@Aslash304]

@@BryanA3115 lots of good leases out there! $329 a month on a ZDX came across my desk today

[@mag.yt818]

Premium autoworks in riverside and Newport fisker both in California are no longer offering recall work because they’re are not getting paid by the fisker trustee. They will not do the work for free nor will they charge to do the work at this time

[@Aslash304]

Thanks for sharing this!

[@DaveDarin]

Now THAT is absolutely NOT good news.

[@jwvandegronden]

It says a lot about the basic quality of the Ocean, otherwise it would already be dead in the water. They were too early in the release but many people are emotionally attached to this vehicle. I myself would love to be able to take the plunge and participate in resurrecting an Ocean and enjoy that process, but unfortunately I can't, second best is following this channel! ;-)

[@Aslash304]

Much appreciated! I am glad progress is being made. I have also taken the “outside looking in” approach because the sting from the initial burn hasn’t healed for me. Scars teach lessons. Thanks so much for watching!

[@khalilshahyd9063]

The emotional and psychological attachment is real among FOA members. It's like a DIY cult.

[@jwvandegronden]

@@Aslash304 I get that completely. I think a lot of Ocean owners and former Ocean owners have a mixed bag of love and hate with the car and the company. _Thank you_ for sticking around and holding the torch to highlight the important stuff

[@jwvandegronden]

@@khalilshahyd9063 Maybe, like a Stockholm syndrome? Or sunk cost fallacy, both or just love for the vehicle. The dude knows how to pull on our heart strings with his designs.

[@martin-from-naboo]

Can't imagine looking at Henrik's face when getting in my FOO. Glad I was able to turn down the delivery and get a refund. Still following Adam for the entertainment. He should make a Netflix documentary, can't imagine anyone better.

[@Aslash304]

Thanks for watching! I really appreciate it. I’m definitely going to put something together. Let me know if you know anyone interested at Netflix, lol.

[@JoseMartinez-vl5zw]

how do you get in your FOO while turning down the delivery ?

[@khalilshahyd9063]

It wasn't Paul, it was a woman in the FOA from Texas I believe who first brought the Holder Rule to everyone's attention. I submitted a post to the group asking if we could target Chase to discover what they knew and when. She responded by informing us about the Holder Rule. Paul took the bat from there and got the owners connected to HB. So definitely thanks for that.

[@Aslash304]

Thanks for this!

[@reviewaccount8377]

You are correct

[@Aslash304]

@@reviewaccount8377 I am extremely sorry for any mistake I have made. If a correction needs to be issued, please send me an email. I’m happy to explicitly state the exact events in order.

[@percygannss5718]

Hi Adam, greetings from Germany ! Many thanks for your short and precise summaries, which I follow since the early summer 2024, always a highlight. Iˋm an extreme owner with almost 43.000 km on the meter and I can say that beside of the known small electronical bugs the car works really good. I also agree to not automatically change the cabin heater water pump if there are no issues so far. I have discovered that the failure that the car is not going into D after short stops with shutting down or closing doors is most likely because the battery sometimes deep dives under 12 volts for some minutes after a stop, at that low voltage its logical. So rather get in P but letting the car remain "on" and the Fisker will accept the "D" aferwards and continue to drive. Example: when you´re pickung up the kids from school etc. My batterie is fine but to be honest 50AH is underdimensioned in my eyes, so I´m going to change to a larger (there is space in the frame) once in a while and no VARTA. Looking forward to stay informed through your channel, really appreciate your hard work here.

[@Aslash304]

Thank you so much for providing the details here. Lots of super helpful information. And thanks again for watching!

[@JoseMartinez-vl5zw]

to my knowledge, no one is getting a "warning" that their cabin heater water pump is going to malfunction. The reason it is a recall is because the car immediately goes into limp mode which could cause an accident. Once on limp mode, it is recommended you do not continue on limp mode beyond a short distance sufficient to have a tow truck access/pickup the car.

[@Toppmoeller_6601]

Percyganns did you heard of the German Forum?

[@percygannss5718]

​@@JoseMartinez-vl5zw Hi, my intention was to clarify that if the car runs 43.000 km without having issues with the cabin heater water pump it is unlikely to happen at all. Only a few had issues and I believe it happened in very cold conditions with the car not running in earth mode (smooth climate functions). Limp mode means you roll out with only approx. 8 kw power and max. 30 kmh, I had limp mode one time. I rolled out, got aside, closed the car, waited amd reopened. Everything worked again. Dangerous or not, no need to panic, no big deal for me unless its not happening on and on. Cheers!

[@percygannss5718]

​@@Toppmoeller_6601Hi, I am member in the german forum as well, but I keep more attention right now to the FOA, they take action in the main issues like the cloud service and subscription model which is most important for us all at the moment. Parts supply will develop parallel in the US and Germany/Austria but we need to be patient, it will take a while. Cheers!

[@MarcOliverMiami]

Really appreciate your continued detailed updates @Adam. Thank you!

[@Aslash304]

Thanks so much for watching!

[@mikeadams9302]

We decided that although we decided on arbitration, it was in our best interest to get the FOA membership. We would love to get Android Auto and/or Apple CarPlay. Who knows what the new administration's direction will be regarding EVs. Thank you for keeping us updated.

[@Aslash304]

Thanks for watching!

[@jkywang2011]

Adam, Well said. You always keep a cool head in this saga. Appreciate that.

[@Aslash304]

I really appreciate this feedback

[@MelHaynesJr]

Also, shout out to Electrified Ocean. Got my key fobs and NFC cards a while ago and the process couldn't be easier. Met a fellow owner in Denver and we both were programmed in less than 10 minutes. As much as I appreciate the FOAs work, I think Chad's offering is the best way to go

[@Aslash304]

It’s a good alternative, and available now. Thanks for the feedback on the process

[@patrickmannion4952]

What about the La Palma workers who suddenly seem to have a shitload of parts in their possession? Parts that don’t belong to them.

[@Aslash304]

Great question: I don’t have any details here. Has the FOA made any communications?

[@patrickmannion4952]

@ I haven’t spoken to them in a while. I have no idea who owns/is in possession of existing parts inventory. Who has what? Who owns what? Who has (but shouldn’t have) what? What makes a person “approved” to offer service and sell parts? Who granted/grants them this authority? Can anyone declare themselves approved to do this? People should know that not ONE Fisker technician completed any specific full training curriculum series. Yes, true, SOME organized training was put together, but it was horribly underdeveloped.

[@patrickcc3727]

Now I kinda regret selling my FOO at such a steep loss, as I think the car has, as you rightly say, about 5 years of good usage left now that the FOA has resolved a lot of the open problems. The big questions though going forward are really i) insurance; ii) spare parts; and iii) maintenance. As you quite rightly point out, all you need is a cracked windshield that needs replacing and you'll immediately face problems finding the part and then how will the recalibration of the electrics in the windshield be done? And one thing you didn't mention is that the FOA is only going to work if the FOA leadership all decide to cooperate and work their butts off to get things operational - but over time things are going to deteriorate simply because there will be fewer and fewer FOs on the road - plus there is no guarantee that the leadership will not self-destruct at some point in the future. Thanks for all your time and effort in keeping the FO information updated and really enjoy your thoughtful videos!!

[@Aslash304]

This comment is extremely well put together, and addresses the entirety of the situation very well. I still think you were right to get rid of your ocean. While the future may look a little brighter, there are still many risks. For example, no battery warranty, something literally every other EV with an operating manufacturer comes with. These packs are likely high quality, but that doesn’t stop them from failing. Also, people are saying that dropping collision coverage would be a way to mitigate expensive insurance coverage, when all it really does is make 100% of the risk belong to the owner. I know a handful of folks who are out of the Ocean, and have been made whole because they had gap insurance or new car replacement, and the insurance companies couldn’t find a part. Thank you so much for this great discussion. And thanks for watching!

[@JanaiB72]

⁠@@Aslash304 by definition, a risk is the possibility of something bad happening. If you’re a good risk manager, you’ll also know about the risk matrix which includes possible outcomes/impacts of the bad thing happening as well as the probability of it happening. I can tell you from experience that those who sold their Ones soon as they saw trouble have lost the most. Yes, there are risks but what are the chances of the risks happening? For this particular EV, the chances are getting slimmer. Anyone driving this vehicle with 2.2 installed knows this is probably the state the vehicle should have been released in the first place. It’s definitely not perfect yet but it is still like light and day when compared with average or premium ICE vehicles. Probably the folks who have made the best out of this situation are the ones who bought these vehicles at a discounted fraction of the original MSRP. Even if you got this vehicle for $20,000, you got a very, very great deal! Most owners would be able to drive this thing for a minimum of 5 years. Those who rushed to sell theirs made a huge mistake in my opinion which unfortunately includes you Adam.

[@Aslash304]

@@JanaiB72 if you have no problems, then that’s great. I’m very happy for owners that haven’t had any. Some questions: What’s the battery warranty? How much does the insurance pay when the battery goes? Every single other EV has a 100,000 mile warranty on the battery. That alone seals it for me. Adaptive cruise control is available on literally every new car. And then there’s the vents. And the wait time if something goes wrong that hasn’t been figured out yet. Insurance companies are totaling these things left and right because they can’t find parts. A viewer of mine lost his Ocean One last week, Over 1 part. And he was ecstatic to walk away because he was made whole by gap insurance. I believe the direct quote was “headache gone.” Finally, how many people are still bricked? 2.2 is bricking vehicles. The “no problems” people are, unfortunately, “no problems yet” people. And the time… the time required is a high cost for those who don’t have a lot of it to spare. If telling me I made a mistake by setting the last day I throw money at this car to be 5-8-24 helps you with your risk management strategy, then I’m more than happy to help.

[@JanaiB72]

@@Aslash304 it’s definitely not been problem free but retrospectively in light of great developments, they’ve been challenges more than they’ve been problems. For one, it’s an electric vehicle and that has meant less to deal with overall. It’s good to have warranty for the battery but in reality, it’s not been needed. There have only been 2 major battery recalls in recent years. Outside of big recalls, only 2.5% have been replaced. As of today, most EV batteries are still in cars. EVs haven’t been around long enough for us to see how quickly they degrade and what their end of life looks like. However, we can draw inferences from the oldest Nissan LEAF and Tesla model S. Only a little over a tenth of drivers have reported a battery replacement after their 8-10 year/100,000 mile warranty lapsed. So I don’t see much of an issue with the lack of warranty.

[@JanaiB72]

@@Aslash304yes, there are several features like ACC that’s not been enabled on the Ocean but it’s only a matter of time before it is. I mean, this vehicle didn’t have a brake hold and will roll at stops. That’s been fixed. It’s an EV and with access to the Fisker tool and cloud, it’s only a matter of time when 3.0 would become a thing again. It’s not likely to stop there. For anyone wishing the FOA will self-destruct is just being sinister.

[@DaveDarin]

Great video, as always. Specific to insurance, and I have Geico insurance at $98/month with a very VERY clean drivers record and married with 2 cars, Ocean One and 2020 BMW i3s. Since I bought the Ocean, recently, for $19,200 my thoughts are, eventually but hopefully won't have to do this for 2 years, but I would cancel collision and just keep liability. That's if insurance becomes too expensive. In 2 years, the Ocean that cost me $19,200, what will it be worth? It won't be a classic and it will still have risk of ownership. So I don't think it's value will go up. Look at the Fisker Karma, its value has not gone up. So, in 2 years what will it be worth, maybe $12,000 at lost, more like $9-10k less if it has significant mileage. So you drive an Ocean and you risk $9-12k with potential of still having valuable parts to sell. Or if the accident is a result of someone else's fault, assuming they have insurance, then you are safe. No one is going to steal it so theft is not an issue. So, in 2 years, who knows, it might be that many are dropping collision.

[@Aslash304]

Great points. In two years, insurance could be impossible to find. Time will tell.

[@DaveDarin]

@@Aslash304 We are all hopeful that parts will be coming as the FOA is attempting to get a supply. That would mean, still, that the cost of insurance will go up if the parts prices are high BUT at least less risk of Oceans being totaled so insurance will still be possible. For that matter the Fisker Karma and Delorean would have cancelled insurance policies as even less of them were made. And with the recalls completed that satisfy the National Highway Traffic Safety Administration that, at least, means they are not road and highway dangerous for insurance to flag them as life threatening. And, as they are so inexpensive now perhaps dropping collision and only carrying liability will be the solution we need to take.

[@lvguntv3331]

I hope I get this out right So the Foa encouraged everybody to pay for dues I paid my $150 for the three month trial But encouraged people on the form to only do $150 not the 550 I think it really upset Christian and he wanted me removed from the chat but I did not get removed from the chat. I just left myself over viewing it. Been getting bullied by other Fisker members sometimes I may have been a bit harsh, but I don’t want Fisker owners to lose more money. Was I wrong in doing that?

[@Aslash304]

One of the considerations you need to make when joining the FOA is regarding your preference on the leadership. As a member, you can vote on the leadership.

[@monsterpatbro1041]

Unfortunately Henrik scammed me and promised me a all paid trip to Graz Austria to tour the factory if I bought an Ocean One. Which I did and never heard from him again. So I'm stuck and broke with the Ocean. I wished and prayed somehow things would turnaround for the better but never happened. I feel like many people were strung along by Henriks positive statements yet he lead us off a cliff. Sad cuz the car had potential, the lie of positive margins got me to invest to much along with the promised trip.

[@Aslash304]

I’m sorry about what happened. I got one, reported on it, and got out as quickly as I could. Many people were very critical of me because they thought the facts I was reporting were opinions.

[@monsterpatbro1041]

@Aslash304 Fisker made it very difficult to read in-between the lines with his false promises and many did become critical of you. You did good work Adam but they were being told one thing by the company and hearing another thing. I feel like your credibility moving forward is strong now.

[@bheppes]

I got the v2.2 update a couple months ago ... my Ocean has been running fine and remote unlock has been working. I hate that the Navigation is broken too. I am looking to get my: vents, frozen solar roof, and maybe other little things fixed.

[@Aslash304]

I appreciate you sharing your experience! I hope you can find a solution for the vents and the Solar roof!

[@RanjitBajwa-t6h]

Excellent video as always. I understand why insurance companies are charging high premium but I wonder why fisker owners have to pay big annual registration fee when the value of this car is so low. I hope FOA can look into it legally and possibly save us enough money that pretty much will cover FOA membership fee.

[@Aslash304]

I appreciate the feedback very much. There are so many outside forces that the FOA must overcome. I think that’s a major reason for the dues. They had to pay the lawyer, and they have to find a ways to continue to solve owner problems, which are complex and numerous. I’m rooting for them for the owner’s sake.

[@DaveDarin]

That's interesting. Registration in Arizona is $1100.00. What they call it is Vehicle Usage Tax. They base that tax on the MSRP of any car, so they are basing it off of the $68,990 MSRP and not what current purchasers are paying. Now every year this tax goes down but not by a lot. This is one of the main reasons that I have all classic cars. My 92 Jeep Wrangler, 72 VW beetle, and 76 Trans Am are about $50/yr to register with, I think, $0 in vehicle usage tax. Plus I insure them with classic car insurance which is very inexpensive. Somehow, every state finds some way to rip us off with taxes. Arizona's rip off is this vehicle usage tax. Would be nice if it was calculated based upon what we paid vs. the MSRP. I don't think the FOA is looking at this as they would have to fight each state based upon each states different cost of registration. For example, I lived in Delaware and Delaware has no sales tax, except on cars which was 2.75% and registration was a flat $40/year no matter the MSRP of the car. That was some time ago, it might have changed.

[@anrpat80]

Where can we find how much they are asking for fisker IP?

[@Aslash304]

@@anrpat80 Reach out, and make an offer, I guess. It’s all rumors until an offer is accepted and someone comes up with the cash. Maybe I’ll post what I’ve heard on my Patreon if someone asks me.

[@effingsix3825]

🤔 If the Fisker US company will be wound up(because of Chap. 7) then what happens to Fisker Austria, which is still in creditor protection? What happens to the debtor-in-possession of Fisker US? Why did they chose a recording, rather than public documentation? So only buy an EV if the company remains solvent, because the software issues alone can make your car unsafe? There won’t be a soul to buy Henrick’s cars if they emerge. Rivian was given more money by VW to enter a JV, since a software-defined vehicle wasn’t possible under VW. They wanted the software-defined vehicle, which in essence is Henrick’s insurmountable problem.

[@Aslash304]

Fisker’s US stuff is over. There’s nothing left. Fisker Austria will remain, and seems intent to support vehicles for a period of time. They have lots of parts. The IP (software, etc.) is owned by heights but is for sale. Software defined vehicles are the future, and when VW ousted Herbert Diess, it was clear VW was either going to buy their way in or forget electric all together. Looks like the Former. Great feedback

[@effingsix3825]

@ Thanks for keeping ppl updated, Adam! One thing that really bothered me about EVs is how do you get out of a wrecked vehicle or escape a battery fire when there’s no door-opening handle, because door handles were thrown out in the design?

[@Aslash304]

@@effingsix3825 I’ve never seen an EV that will lock you inside with no manual escape. Except for the Fisker Ocean, of course.

[@markhartman1475]

If you get one cheap enough, don’t ensure it and just get liability

[@Aslash304]

If a company won’t insure it, they won’t do liability either. I had a viewer literally yesterday that had their vehicle totaled by their insurance company because they couldn’t find a part. Because they had New Car Replacement, They were made whole. For someone who just purchased liability, there’s no help. Parts for Oceans is like a DIY cash business.

[@tesla_tap]

Adam - Cute cat in the background! 🐱

[@Aslash304]

Zoey had a Cameo!

[@urcorrupted]

Aga, so I was right -You do wanna back in! Insurance? -just get the liability coverage! Buying Ocean for $15K is an amazing deal now, I think.

[@Aslash304]

4 digit number. It would need it to be a 4 digit number.

[@MidAmerican732]

@@Aslash304I bought 2 for 5k from Huron/Heights in the liquidation but I had leverage on them!!!

[@craigirvine7086]

To many ifs and buts for my liking the FOA hasnt helped me at all for my bricked car . I fixed it my self with the help of a specialist and have no issues since and zero vampire drain now . Sounds like fiskers original market plan by offering something they cant produce

[@Aslash304]

I appreciate this feedback. There is a lot of red tape involved.

[@wardpaine8194]

Interesting

[@Aslash304]

Thanks for watching

[@MelHaynesJr]

The dues for the FOA are live and people are able to pay them now. It's important to note the work that has been accomplished in such a short time with a ragtag group of rogues fighting for the cars future. I spend way too much time on the FOA discourse and the complaining about dues is odd. Every car manufacturer charges for services and even as bold as charging for heated seats or "go faster". The work to develop the software for AA/CP and on alone is a huge task, so for me the dues are reasonable. Anyone thinking they were buying a car that is mostly controlled by software and getting that for free is delusional anyway.

[@Aslash304]

Great points. All software enabled cars have a continuous cost.

[@evand4773]

Just as a fact check--- the is no "Class Action" of any kind. All of the arbitrations between Hagens Berman and Chase are individual arbitrations.

[@Aslash304]

Did I say there was one? Hit me with a time stamp, and I’ll remove it.

[@evand4773]

@@Aslash304 I might have misunderstood you around 11:11 when you mentioned "fighting for a class-action resolution"

[@Aslash304]

@@evand4773​​⁠ this is exactly what they are doing. They are litigating, hopefully consecutive successful individual arbitration cases, to signify a cost and time savings for all parties by addressing the resolution through a class action. In the sentence before the one you referenced: “What level of successful potential your specific case would have.” I am sorry I was not clear enough that individual arbitrations were being submitted, and that a class action is one potential outcome, and not the current actual outcome.

[@OasisAmps]

Hey Adam, reach out for commission based products

[@Aslash304]

I currently don’t have any sponsorship of any kind.