Here's Why The Fisker Ocean is So Cheap Right Now

[@Traveling-boomer]

I know is that Henrik and Geeta should be put in prison for the billions and billions of dollars in shareholder money that’s been lost because of their incompetence

[@alijosefi5278]

and you dont think CVI had anything to do with dilution and shorting of your shares with directly led to stock going from $7 to well whatever it is now?

[@Aslash304]

Many hands in this. All grabbing for themselves as the investors and owners suffer the consequences.

[@alijosefi5278]

@@Aslash304 If CVI cannot disprove the claim that they made 500M in stock dilution then SEC will get involved and if henrik and geeta had hands in this too they all can be investigated for insider trading and that is not something anyone wants to be investigated for ,but jthat's ust MHO

[@foxtrotwolf6081]

Incompetence is not illegal. If nothing violates Federal laws the nothing is criminally actionable. It's why they had consulted their lawyers and taken the 5th once DOJ started locking up CEOs who publicly misrepresented their business.

[@ugaladigala]

@@alijosefi5278 bro, cvi was just doing their jobs. they technically, legally, morally, sympathetically, empathetically, virtually, have no fault

[@EV_OG]

The Fisker community owes you a debt of gratitude Adam! You put so much research and work into putting these videos together. Thanks for keeping the community and interested on lookers informed. The only things I care to see moving forward are litigation against the aptly named Heist & prosecution of the Fiskers. Hopefully owners who want out will find the courage and means to do so.

[@Aslash304]

I couldn’t have said this better myself

[@melvinholland9656]

Weren’t you the same OG waxing poetically about excellent Fisker service and how the vehicle made you feel “special”, just a few months ago? My how times have changed.

[@EV_OG]

⁠@@melvinholland9656 I stand behind the things I said about Fisker. I’ve always shared my experience and perspective with candor and balance. So I’m not sure what point you’re trying to make.

[@thebreakthrough4491]

Man I remember when I was considering getting an ocean until I saw MKBHD video. Thank god! Great job breaking everything down and keeping people informed

[@Aslash304]

Thanks for watching!

[@orhbo0]

I think MKBHD did a disservice to the brand - although I don’t own one myself. It was an IRresponsible review because he was impatient & he intentionally used a vehicle that was not updated, even when he knew that there were updates available. Every company goes through growing pains - including Tesla.

[@Coolcatgrooves]

Boy, do I wish there were a God, none of this would ever happen? Actually, life on Earth would be more peaceful. Glad that you were smarter than me, because I bought one, and now I feel like a lost fool in the wind.

[@orhbo0]

It was tempting to get one at the price drop. But there aren’t enough chargers around me. lol, maybe MKBHD can spare some of his video earnings with the Fisker owners - that he helped to screw over.

[@thebreakthrough4491]

@@orhbo0 sure ok lol

[@millertcb]

I almost bought one of these heaps of shit. Thank god I decided against with that 5k deposit scam. One day hopefully Henrik and Geeta are held criminally accountable. I truly feel badly for current owners. What a shit show.

[@Aslash304]

It’s a spectacle. That’s for sure

[@millertcb]

@@Aslash304 Great work by the way. Not sure how you even manage to put all that together. 💯

[@Aslash304]

@@millertcb50 hours over 2 weeks. Thanks for watching . It really means a lot

[@AngelicaPerez-Johnston]

Thanks for everything Adam. Still driving my ONE (for now)

[@gregoryalee2457]

Mine was on the ship when I cancelled it. $1,500 deposit gone but had i gone through with it, I would have been the biggest mistake in my life.

[@2quick2come]

I bought a fisker and had it for a month. Mine had no issues. I love it but unfortunately I had to sell it due to depreciation. I would definitely get one again if i won the lotto

[@Aslash304]

Sorry to hear it.

[@nielccc267]

im seeing 24k right now, is it good to buy?

[@2quick2come]

@nielccc267 I would say buy it. However, there is nowhere for you to take it. If something happened, I'm not sure where you'll get the parts.

[@Aslash304]

@@nielccc267 I’ve got a round table discussion coming up that will answer this question

[@benb8710]

I don't have a Fisker and will never own one as I'm in Australia, however, this is such a fascinating ordeal. Thank you for covering it all in great detail.

[@Aslash304]

Thanks so much for watching!

[@4D4Mofficial]

Such a bummer what a great looking small SUV

[@Aslash304]

A bummer indeed

[@Littlebittyrose]

Boy Brian Resnick says "um" and "uh" a lot! 🤣 Another great and very detailed video! Thank you again Adam!

[@Aslash304]

Thanks for your feedback, and thank you for watching!

[@reviewaccount8377]

The time and frustration is real. My car has been bricked for 122 days, almost as long as I have owned it. Time, money, and stress is all this car has given me. Millions tied up in bankruptcy because Fisker doesn’t know how to properly manage a business.

[@RicardoK-ng5ch]

wow 😬

[@Aslash304]

I’m so sorry about your experience. Thank you for sharing

[@Buildindemo]

I can help you fix the car

[@drgermany001]

Thanks, Adam. Please continue to update and inform us FOO and FO owners. 🙏🏾

[@Aslash304]

Thanks for watching!

[@DuesenbergJ]

In Sweden a car dealer in Enköping bought the remaining stock of Fisker Oceans out of the bankruptcy. About 30 vehicles.

[@Aslash304]

Thanks for this!

[@danielflockinger5280]

Just a quick update on the Austrian case. Fisker GmbH has precisely 598 vehicles in their books as assets. Those assets belong to Fisker GmbH and are locked by the Austrian insolvency court. There is scenario in which those cars would ever be sent over the ocean unless there is a lot of money exchanged. And the amount of money must be in a dimension which is agreeable to the debtors of the Austrian GmbH.

[@Aslash304]

$2.35 million? Like the American case stipulated?

[@danielflockinger5280]

@@Aslash304 There is nothing in the court docket at all. They havent offered anything to the debtors at all. If they had, i would know because i AM one of them.

[@Aslash304]

@@danielflockinger5280265-1 page 3 of 7 item 2.1. Start there. Where it says “FISKER US will transfer the pre-agreed amount of USD $2,350,933 to the Escrow Account upon signing of this Escrow Agreement (hereinafter the "Escrow Payment").” Unless you’re talking about the Austrian Case. I can’t access that

[@nimrodsmusic]

Offer dealerships that currently have Oceans on their lot $15k and then use the car for parts. I offered 1 dealership $18k for an Ocean they have listed for 30 and they were eager to accept the offer. Junk yards are buying new undamaged Oceans for parts.

[@Aslash304]

There are no oceans at dealerships. They were all sold to one company this month

[@Ryctor07]

@@Aslash304 There are a few used Oceans near me. They're asking for 23-30k, but I bet they'd go for a ton less if someone actually wanted to take the chance.

[@reviewaccount8377]

@@Ryctor07those could be trade ins.

[@RicardoK-ng5ch]

@@Ryctor07 Yes , I noticed also that dealers are trying to hold the line at a 25K price point. I wonder when they will finally get tired of having a lot ornament and embrace reality, anything over 18K just ain't happening.

[@nimrodsmusic]

@Aslash304 you couldn't be more wrong, go on autotempest and search and you'll see plenty of dealerships trying to unload them.

[@2011joser]

My initial reaction to the original announcement of these Fiskers was disbelief. I thought for sure it was some kind of Nikola type scam since the first Fisker car had failed so miserably fairly recently. I now see I wasn’t far off in my assesment. I thought Henrik Fisker’s gift was automotive design. It turns out his true calling is duping investors.

[@Aslash304]

Well said. Great conclusion

[@henryrodier8024]

In the future Fisker should not be allowed to be a car manufacturer cause this is the second time with the same results the current owners look to have no recourse which should make them smart enough not to make a similar mistake , we can only hope.

[@Aslash304]

Agreed

[@effingsix3825]

Thanks for the good read on Chap 11 proceedings, Adam! This is all like pulling teeth! 🤔 Don’t ignore the two words: “escrow arrangement” Escrows are an essential risk management strategy used in the event of bankruptcies. An escrow arrangement isn’t made public, and probably exists here. - just a wild guess. An escrow arrangement means the business continues as a going concern, once all of the aspects of the bankruptcy are worked through. The chap. 07 under the circumstances may be unreasonable.

[@Aslash304]

Chapter 7 will impact owners negatively. I’m curious to see how it all goes. Thanks for the feedback!

[@MehdiJadali]

I know so many thing went wrong with Fisker. My personal experience is Fisker has significant number of good features. Any start up has had issues, may be even more than Fisker. Can we leave the past behind and only look into future? Bad mouthing the past doesn’t help us.

[@Aslash304]

Did you watch the video? Did someone tell you to write this?

[@KlemensEV]

Great points. If totaled you are going to get $14,500 from your insurer as a settlement or more than likely less. Folks may want to see if they can add GAP to their loans. Your comment on the person who still owes $60k, they will need to pay immediately $45,500 or more to the bank for any damage claims if totaled and not over time.

[@Aslash304]

Great points!

[@jbhorner]

This outcome is really a tragedy for all owners. One shouldn't have to wonder if their very expensive vehicle will have a capability to have repairs in the future. And the prospect of driving a car that is in an accident, and is subsequently not drivable because of a lack of parts, is more stress than anyone should have. People just, at a minimum, wanted a drivable car.

[@Aslash304]

100% agree.

[@timoliver8940]

Adam your brain must be well scrambled after reading all those legalese documents…………. Thanks for wading through it all on our behalf!

[@Aslash304]

Thanks so much for tuning in! I sincerely appreciate it

[@alijosefi5278]

next important question to ask is , did CVI have access to company insider information while shorting the stock and did fisker provide those information to them voluntarily ,,,then we will have a fun securities fraud case to follow separate from the bankruptcy one

[@Aslash304]

Great question

[@Derpy1969]

I like your channel, the way you speak, the issues you discuss, etc. I feel so sorry for Fisker Owners. Henrick effed you all.

[@Aslash304]

I appreciate this very much. Many owners were taken advantage of

[@LeonSteelpaw]

youd think the FOA would try to get their members a deal on selling their oceans to the leasing company There wont be any continued parts creations or software updates after what exists

[@Aslash304]

It’s not that kind of group. These are people who want to keep them forever

[@stra8nut76]

I still want one. Hands down one of the best-looking EVs on the market in my opinion. I sure hate this happened 😒

[@Aslash304]

An attractive girlfriend that just happens to enjoy poisoning your food. A show dog that bites. A bed of oysters that you’re allergic to. This is the Ocean.

[@foxtrotwolf6081]

@43:50 Get a different insurance plan. Some companies have 100% windshield replacement. And, if a wildfire is heading your way, leave the car and hope it doesn't survive. You might get a settlement out of it if the lawyers that certainly will come out of the woodwork find deep pockets to pin the wildfire blame onto.

[@Aslash304]

Thanks for the feedback

[@nickd8288]

Ok so your new insurance plan has a 100% windshield coverage.... where do they get the windshields? 3D printed? 🤣🤣

[@Aslash304]

@@nickd8288well said. this is the reason insurance companies aren’t offering policies at all. At any price.

[@foxtrotwolf6081]

@nickd8288 The same place as the 2500 dollar windshield.

[@wizzyno1566]

​@@foxtrotwolf6081so nowhere.

[@nimrodsmusic]

For electric car builders this is a god send of inexpensive batteries and motors, suspension parts. Throw away the controller/brain and harvest everything else for a kitcar build.

[@Aslash304]

One company just bought all of the remaining new examples left on earth.

[@wizzyno1566]

I can't see how its only $300,000 dollars to fix water pumps on about 10k cars? Thats only $30 a car. I reckon at least 10x that is required.

[@Aslash304]

It’s 6000 cars. The water pumps for the American Lease units is already covered.

[@wizzyno1566]

​@@Aslash304so $50 a car? Thats impossible.

[@markp257]

FOA doing their best but in the end limited success for owners

[@Aslash304]

Agree

[@mikethecargeek]

Software ain’t easy. “Access to source code” is insufficient to modify or fix software without a deeper understanding of how it is structured AND authorization to use the IP that underlies it. It’s going to be complex and frustrating as 🤬

[@Aslash304]

Agree 100%

[@kengaroo-l6g]

fool me once, shame on you.....fool me twice, shame on me. just curious, does anybody know what happened to the fisker karma owners?

[@Aslash304]

The company “karma automotive” bought the IP and continued producing the car. So, parts and service can still be had, as the support still exists for parts, diagnostics, etc.

[@cityblue0202]

Hello, what happens if a company buys the software and then sends an ‘update’ which will make the vehicle unusable? The part of the car that could go wrong is the software. I am currently looking at buying the ocean 113kwh new for $27000. Bargain ?

[@Aslash304]

If an update is sent that the car can’t receive, there’s a chance it will be bricked. If you don’t mind driving hundreds of miles for service, or paying someone a LOT of money to drive to you, paying extra for insurance, waiting months for parts that you may or may not or ever get, being fully prepared for your vehicle to be completely totaled at any time, being without many of the conveniences that come with a modern car because the Ocean is unfinished, and paying extra for navigation, cell service, cloud access, and membership dues. (there’s no way around the membership dues), then yeah, it’s an affordable initial purchase. That’s the last affordable part, though.

[@cityblue0202]

@@Aslash304 I think I’ll get the id5 cheers 🇬🇧

[@mahdielectrified]

I guess I would buy 1, if I knew how to use the battery as energy storage though

[@Aslash304]

$10k for the car. $10k to convert it to something usable. (Or $10k in DIY sweat equity)

[@nickd8288]

Indeed. A 100 kW storage battery could be very nice for an off-the-grid solar installation. Just need the disposable income to get some expert electricians to remove that battery and do a legit install 👍

[@Aslash304]

@@nickd8288and get permission from the utility to hook it up.

[@RodneyHaas-st2or]

Funny enough I keep thinking I will offer one of the ICE dealers who has worthless trade-ins 15k. I have done so with a couple. But watching your video's makes me rethink. I am still out the $5250.. but TG it was only that. I was just buying one as a spare toy... Maybe not!

[@Aslash304]

Thanks for your feedback. I don’t wish the anxiety attack that is the Fisker Ocean on anyone. But it’s a cool story

[@cool2zip]

The Fisker ocean should be sold for $25,000. Trust me, it's not worth more than that. Rich rebuilds bought one for $10,000

[@Aslash304]

100%

[@zion168]

I've been trying to buy one in S Calif for under 20k and got no love anywhere lol

[@Aslash304]

Buy a wrecked one. You’re going to need to know how to fix it if you want to own it.

[@WiltonLiveTV]

Hmm… at least a sub industry has sprouted

[@Aslash304]

Thanks for your comment

[@Coolcatgrooves]

Many people were pleased with FOA, to me, they are simply "meh." Once again, I find myself disregarded. The focus, or lack thereof, on the owners and our anxiety is striking. Why on earth would I subject myself to exorbitant service prices, endure interminable waits for parts, and continue paying for a car that brings me such profound anxiety that I've begun to experience depression? Furthermore, how did FOA manage to circumvent all the lemon law attorneys? Something is amiss. This video, though masterfully executed, is profoundly disheartening. It stirs my indignation at how these individuals can so brazenly evade justice. As I listen to this in a courtroom setting, it becomes glaringly obvious that this is nothing more than a money grab. There has been no mention of making the real owners whole-the owners who are truly suffering. How can anyone, in good conscience, treat people in such a manner? Thanks, Adam for a great exploration

[@Aslash304]

Excellent feedback. You sound exactly like me in April/May before I got rid of my Ocean. I really appreciate the honesty and candidness. Keep me in the loop as your journey unfolds.

[@Coolcatgrooves]

@@Aslash304 I will do. Although I'm running out of oxygen. What is going to happen on the next call, and why in the F... were there not hundreds of owners on the call?

[@Aslash304]

@@Coolcatgroovesthere were 60+ people at the hearing, but you only get listening privileges… unless you have permission from the court and reason.

[@orhbo0]

18:13 😂🔥🎇

[@Aslash304]

This comment made my day.

[@MrMentalpuppy]

Just opensource the software and share parts info.

[@Aslash304]

Solved.

[@spazoq]

Who will be next?

[@Aslash304]

@@spazoq super excited to hear your opinion

[@lars-andreasnilsen307]

They are not cheap, they are as expensive as they'll ever be. Price will quickly trend towards zero. Anyone claiming anything else is dumb or dishonest.

[@Aslash304]

Thanks for the feedback

[@darthinsanitus8510]

The owners are just gonna have to get with reality…in the end American lease will work with the owners to a point…and they bought a 🍋

[@Aslash304]

I agree. American lease will help, but only as they can.

[@darthinsanitus8510]

@@Aslash304 even American lease as stated they are only functional in 1 state

[@enemyzer092]

There are many listings in ca of sellers still trying to get 35k and higher for these and I have offered all of them about 5k each . They all think someone will pay them 35k for a brick with wheels lol

[@Aslash304]

They will not. I’d start sending them screenshots of finished auctions.

[@anbock55]

At 5:36 you cover the language re: recall/stop sale and rights American Lease has under section 37 - making a special effort to call out that Owners are not covered, but section 38 directly underneath it seems to address that?

[@anbock55]

Spoke too soon! Looks like you start to cover this ~13 min in

[@Aslash304]

Thanks for watching!

[@mahdielectrified]

What if you can buyone for 5K, i wouldnt buy one even if it was priced at the 5k price but thats just me

[@Cakebattered]

I'd absolutely buy one for $5k.

[@Aslash304]

Supreme sells a brick, too. stockx.com/supreme-clay-brick-red

[@ugaladigala]

you really wanna drop 5 precious K on a car with that g*y *ss logo?

[@wardpaine8194]

Comprehensive

[@Aslash304]

Much appreciated

[@SISTIC1]

What a mess!

[@Aslash304]

Correct

[@celestialtl]

Nice cheap tee

[@Aslash304]

A very affordable garment

[@WiltonLiveTV]

Wow I need to stop watching. You’re so hyperbolic.

[@Aslash304]

You’re probably right. Ownership will be exactly the same as any other car

[@ugaladigala]

people of foa should really just grow up and move on. what are you doing wasting more and more time and money on your pos car? you really gonna hire a team of engineers that will cost a fortune just to maybe get a legit software, for a car that you maybe will drive, theoretically, for another 5 years or so? like just wtf are you doing?

[@Aslash304]

I think it’s a genuine effort. There will certainly be hurdles.

[@Turbomgzt]

I feel the FOA will be a kind of watchdog group without any teeth. No legal clout at all. AL will just want to make money out of their new stock. How is FOA going to be financed? Their staff, the logistics, their accountability? It just sounds like an extra mouth to feed in all this.

[@Aslash304]

@@Turbomgztlegitimate concerns for sure