EV Upstart Fisker Faces Angry Customers, Falling Stock Price

Retired technology executive Gary Stuart’s garage is full of electric cars—a Rivian truck for himself and a Lucid Motors sedan for his wife. He was so eager to own an electric SUV from another fledgling firm, Los Angeles–based Fisker, that he put down a $5,000 deposit for a vehicle last year. He even invested nearly $100,000 in the company’s stock.

But Stuart’s enthusiasm has faded. His Fisker SUV, delayed by months, still hasn’t arrived. And he’s noticed that some customers who have received their vehicles have complained online that some of the cars have mechanical flaws making them dangerous to drive, or that they are missing features the company had promised. Stuart tried to reverse the $5,000 pre-order charge with his credit card company last month, but he hasn’t heard back. “It’s just a mess,” he said.