Mobility — sector dashboard · fobi

Graveyard

Fisker
Fisker filed for Chapter 11 bankruptcy on June 17, 2024, after burning through cash trying to scale its Ocean SUV. The Ocean shipped in 2023 but was hampered by persistent software bugs, braking and quality complaints, and recalls, undermining demand against its ~30,000 reservations. A regulatory filing showed the company had just ~$121 million in cash by early 2024, and a six-week production pause plus mass layoffs followed. Rescue negotiations with a major automaker, reported to be Nissan, collapsed, leaving the company without funding. Its assets, including roughly 3,000 unsold Oceans, were later sold off in liquidation.
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Hyperloop One
Hyperloop One ceased operations at the end of December 2023, selling off assets, closing its Los Angeles office, and laying off most of its remaining employees. The company had raised more than $450 million since its 2014 founding but never secured a binding commercial route or contract for its high-speed tube-transport system. Backed by Richard Branson's Virgin Group and Dubai's DP World, it ran a passenger-carrying test in Nevada in 2020 before pivoting to cargo and dropping the Virgin branding. With no path to revenue, the business wound down and its intellectual property transferred to majority stakeholder DP World.
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Bird
Bird Global filed for Chapter 11 bankruptcy on December 20, 2023, in the Southern District of Florida, about two years after going public via SPAC at a roughly $2.3 billion valuation. The company had burned more than $650 million in cash from 2020 to 2022, never reached profitability, and was delisted from the NYSE in September 2023. It entered bankruptcy with a restructuring support agreement, $25 million in debtor-in-possession financing, and a stalking-horse credit bid. Through a lender-backed Section 363 sale, Bird's assets were transferred to a new private parent, Third Lane Mobility Inc., which kept the Bird and Spin brands operating; the original public company exited via a liquidating plan in September 2024.
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