Fisker in the UK has just gone silent. Not responding to emails; all mobiles have lost service, no landline numbers are working. I returned my £66,000 Extreme as per contract within 14 days, they accepted it, and have 14 days to pay the refund - which passed 5 days ago. Now I have no car and no money. It seems they had no intention to return my money. Really dishonest.
The Fisker leadership has let its customers down. They should be vocal and leading and communicating. They are a total disgrace and disappointment in my opinion.
Not Fisker's leadership let to it, but Fisker's boss. He acts like a boss, not like a leader. People are supposed to learn from previous mistakes, not repeat them over and over again.
Design... there is no denying it. I still get daily, people pulling up next to me on the road or in parking lots to look at my Ocean. Where people look at the Cybertruck out of spectacle... People look at the Ocean and just think its a beautiful car. I get so many compliments.
Design is great. And it comes with a constant state of anxiety and awareness that today could be the day it all ends and costs me the value of the car.
@@melvinholland9656 Correct on the OTA, service and parts. Declining value, depending on when you bought the Ocean and at what price tag, it might have already taken it's huge.depreciation as is approaching some stability, or close to stability. As for parts. I do not believe every part was a reinventing of the wheel. Some parts are probably used in other products. I doubt they reengineered and designed custom coolant pumps, suspension parts, etc. Might take some time to figure out where to source them from but I believe parts will be easier to solve than you think. Body panels, windshields, etc. Those will be an issue. Software. I'm in IT - information technology. If the OS is made open source then development can be sourced to some very capable experts. If it's not there are very credible hacks that could figure it out. Long time ago I was a Java programmer. Java gets compiled into machine language that only the computer can read (0s and 1s). There was a product called Mocha. Mocha would decompile the software fro 0s and 1s back into software that could be reprogrammed. It was not fully accurate but close enough for a clever programmer to recreate the software.
@khalilshahyd9063 Cybertruck is a spectacle because of its unique aesthetic and technical marvels. To compare Ocean and Cybertruck doesn't make sense since they are very different beasts. It is just great to see people interested in EVs, that is what is really important.
the best idea so far I have seen is TATA MOTORS (India) buying Fisker and integrating the OCEAN into their Landrover fleet. Has been released in a video by a british guy cause I have not even known that there was a right driven version built. It would design wise perfectly fit to that evoque or however it is called. Here is the title of the video Should Tata (Land Rover) buy Fisker and make THIS a new Range Rover Evoque Electric?
@@khalilshahyd9063 whatever, but I have been in the european car industry from the oldest car manufacturer to the biggest car manufacturer for 3, no 4 decades and I have seen Ford buying Jaguar in multiple attempts and not getting it right. Tata would get access to the tech needed to electrify more and better cause Land Rover would benefit from the OCEAN as it is , I mean continuing the production with a then improved model.
Nice job guys. Keep it coming. As a FOO I’m trying to not go down the rabbit hole and stay hopeful that there’s a Sliver Lining (my color 😂) coming. Yah gotta have hope. 🎼🎻🤣
Do you understand that “deferred revenue” means absolutely nothing on their income statement. This is simply a liability for the services they promised, but did not deliver. There is absolutely NO money set aside that the company will receive if they deliver the service, it’s simply a bookkeeping entry.
Fisker has failed to pay Hertz for the rental period during servicing their customers' cars, and now Hertz is passing the bills on to the customers. It's quite a mess right now.
Disheartening conversation but informative. I still have the absolute desire to have one in my driveway. This has been the FIRST EV that has grabbed my attention. 👍💯
You may like the design but the bugs would have you questioning your decision. Just check out how many used Oceans are available with less than 1000 miles. EVs are all about the software. I own two and would never consider this unfinished mess. Experienced EVers want good BMS, PAAK, refined regenerative braking, battery efficiency, excellent software & navigation and access to Tesla SCs. This vehicle only has dumb cruise control and no battery pre-conditioning. NFG!
Thanks for the updates Adam. I have a morbid curiosity with watching all this Fisker stuff unfold. The thought of Tesla buying Fisker just to make a meme of it had me laughing. I wonder how much time is left on the deathclock for this company. Hope you have something non Fisker related with the big upcoming reveal. Keep up the good work.
Thanks Adam and Brian. As a small FOE owner it will be interesting to see if the Carpathia comes in and picks us survivors from the Ocean. That said I’ve been enjoying Cape Cod mode for a couple days now myself 😂.
Outstanding video, thank you both!! I’m an owner as well, and was listening to every word! One of the best I’ve seen so far, lots of great opinions and possibilities…. My Ultra showed up Saturday morning. Last night received the tracking number from USPS that the MCO/Title will be arriving Friday so that I can go to the RMV to get my plates.
A bit off topic: I received my FOO title and permanent plates today. A great day! It took 5 months and 16 days after my Ocean was delivered. To others waiting, a bright spot: A Fisker employee told me that they are n😂ow doing the work in house, no longer using a 3rd party company.
Problem with Fisker is not just cash, it is much more complex than that. The market is very different from what it was just a couple years ago. It is now crowded with offerings and ultracompetitive. All mayor legacy automakers have EVs now and are loosing tons of money on each sale. Add the startups (Rivian, Lucid, etc.) trying to get a slice of the market while also loosing a lot of money. There are also at least 5 mayor Chinese manufacturers that have very competitive, attractive and reasonably affordable EVs. They also have the support and access to the deep-pockets of the Chinese government. Only Tesla is really making money due to its technology, integration and scale. There is still value on Fisker, but even a restructured and well capitalized company is facing an uphill battle.
Adam is spot on. I've been saying to fellow owners and friends its access to the U.S. market, government approvals/licenses etc. that will have particular value to the Chinese. Chinese companies are investing heavily and buying companies in Mexico for all their goods. Why? NAFTA. They are nearshoring and creating a path to continue to sell in the U.S. even if the new cold economic war gets colder. My 2 cents is that for a big Chinese automaker, buying Fisker even for $1b makes sense. We'll see.
I definitely think there’s value in the Ocean platform being a vehicle that is homologated in 20 or more countries. Getting an EV to that point is costly. With the cost of carbon credits/ZEV fines, a manufacturer that is expecting to fall foul of fleet emissions rules, would be quite interested. Chinese entry into (especially) the US market also has worth. I certainly see either option as having at least $1b in worth. Henrik and Geeta should be utterly embarrassed about how mismanaged Fisker has been. BTW Bloomberg issued (30/04/24) a really good article about the mess Fisker got into with the Notes holder. Worth a read.
@matpat2636 Even though I agree with much of what you have stated, building and running an EV auto maker is incredibly hard. There are very few successful ones, basically BYD and Tesla. As much as Henrik and Geeta made some fundamental errors of epic proportions, the fundamentals of making a vehicle company work are immense.
@@tonespeaks I don't disagree how difficult it is, but the 10k lays out just how many mistakes they made. Those mistakes have brought the company down in 6 months. They should have hired professionals (as per the auditors findings in the 10k). Unfortunately they failed at the fundamentals. Fundamentals that any business should expect to face, whether in the automotive sector or not.
@@matpat2636 Like I said they made Epic mistakes. To be honest, I think it was doomed from the start. This idea has been tried before and more or less failed. The problem with the methodology is that the investments don't create value. The business is so capital intensive, without any sort of assets to backup loans, means that future loans will be at great costs.
The rear opening of the Pear is reminiscent of 1971 full size GM station wagons, the mechanisms to make it work where not totally reliable at the time but I am sure 50 years of mechanical progress will make it work seamlessly.
Tata is a good shout and would open up Land Rover to an immediate in with a true electric vehicle. In the UK, a lot and I mean a lot of comments I get about my FOO is that its a Land Rover Evoque Even the name would suit it I suppose given the EV at the beginning....
The Pear's tailgate was not an actual innovation but rather a resurrection of a production feature of the 1975 Buick Estate Wagon (and some other GM derivatives). Video here: ruclips.net/video/SwtxPd-2mh8/видео.html
My service tech came and fixed my issues today. I was missing some updates. Keyfob works great so far, Bluetooth is now working automatically. Oh and navigation is working again! Ordered new rear lights as they go on not due to software, it’s hardware. Tomorrow I’m going to drive it more to see how it all works but so far no issues
Rear lights are a critical safety feature. I would strongly recommend to hold on driving until they are fixed. It is actually illegal to drive with non-working rear light, even in day light conditions.
Thank you two for the video. You two hit the nail straight on the head. The FM29 platform Magna told Fisker they could get a more complete system but Fisker opted for the cheaper version. Now would that have increased the price for the vehicle to bring to the market?
I think the Magna platform would have needed less initial service and warranty work early on, allowing technicians to stay current with service, and preventing a lot of the initial problems. Thanks for your feedback
How much is all the tooling worth to build the Ocean?. Even if they don’t own the tooling , the years saved, testing, homoligation, EPA approval, design and features. That would be my question if I was a company like Subaru who already doesn’t make their own EV’s, is that an attractive offer? Along with adding dealers and immediate service locations? Longest range story too. That would be the only reason I think it could be sold
I just watched your most recent video. Holy crap, almost seems like they set this up to fail and that investment company knew they could take advantage. I’m losing hope as well.
Just like other asset light business models, Apple etc Fisker $FSR holds IP intellectual property over EV Auto that have received world class awards. Again check out Carvana $CVNA restructuring for a vision at Fisker $FSRN
You didn’t mention Tata Motors in India as a potential buyer - they already own Jaguar Land Rover who desperately need a smaller less costly EV in their range of vehicles as IPace will soon stop production at Magna. Land Rover has no EV on the market and is working on a Range Rover BEV, but that will be so expensive that few people will be able to afford it.Tata has huge amounts of financial reserve and could build an Ocean in India for a lot less than in Europe, and India isn’t China!
Tata = is ‘they’ There is only one company involved here. It’s the same as when they claimed four vehicles, but only have one. See a pattern? ruclips.net/video/ilQSUm--Ins/видео.htmlsi=N5YcnYYg0fPi6lhj Fisker is perhaps not so much a shell corporation than a special purpose vehicle company with the automotive interest being entry into the U.S. car market. If bankruptcy was purely inevitable it would have occurred already. Creditor protection would have been sought immediately. The asset/liability mismatch is due to the accumulated deficit. (which hasn’t been formally declared) The company value is approximately the ‘debt’ (accumulated deficit)divided by the float.
@@Aslash304 Hey Adam, take a flyer and ascertain for yourself the precise meanings of ‘asset/liability mismatch’ and ‘accumulated deficit.’ They have very specific meanings under US securities law!
@@effingsix3825 if I made a mistake, I’m happy to address it. If you’re unsatisfied with my analysis, you could specify the part that you’re unsatisfied with. Telling me to look up a term in the dictionary sounds more like an angry parent than an engaged commenter. I appreciate it either way
Fisker could remain a US company. Falling to a business based outside the USA is the last thing I want. The largest automakers have to get to the future. The ICE is not going to stay. The future is now.
They have spent £1bn on R&D and tooling and they have bought the Ocean to market and have designs for the Alaska and PEAR. They botched the software logistics and sales, but the car designs still have worth. Launching a new car model from scratch will cost a least £1bn,. For perspective, Apple spent £10bn on project Titan and have not brought a single car to market and now they have cancelled to project. If Apple can't suceed at this then it shows how hard it is.
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Fisker in the UK has just gone silent. Not responding to emails; all mobiles have lost service, no landline numbers are working. I returned my £66,000 Extreme as per contract within 14 days, they accepted it, and have 14 days to pay the refund - which passed 5 days ago. Now I have no car and no money. It seems they had no intention to return my money. Really dishonest.
I’m really sorry to hear this. It sounds like it’s time to get legal advice or contact your local legislators. I wish you success
The Fisker leadership has let its customers down. They should be vocal and leading and communicating. They are a total disgrace and disappointment in my opinion.
A very valid opinion
Not Fisker's leadership let to it, but Fisker's boss. He acts like a boss, not like a leader. People are supposed to learn from previous mistakes, not repeat them over and over again.
Such an informative video and very well done!
Thanks for watching!
Design... there is no denying it. I still get daily, people pulling up next to me on the road or in parking lots to look at my Ocean.
Where people look at the Cybertruck out of spectacle...
People look at the Ocean and just think its a beautiful car. I get so many compliments.
Hopefully the compliments override the lack of future OTAs, service, parts and declining value.
Design is great. And it comes with a constant state of anxiety and awareness that today could be the day it all ends and costs me the value of the car.
@@melvinholland9656 Correct on the OTA, service and parts. Declining value, depending on when you bought the Ocean and at what price tag, it might have already taken it's huge.depreciation as is approaching some stability, or close to stability. As for parts. I do not believe every part was a reinventing of the wheel. Some parts are probably used in other products. I doubt they reengineered and designed custom coolant pumps, suspension parts, etc. Might take some time to figure out where to source them from but I believe parts will be easier to solve than you think. Body panels, windshields, etc. Those will be an issue. Software. I'm in IT - information technology. If the OS is made open source then development can be sourced to some very capable experts. If it's not there are very credible hacks that could figure it out. Long time ago I was a Java programmer. Java gets compiled into machine language that only the computer can read (0s and 1s). There was a product called Mocha. Mocha would decompile the software fro 0s and 1s back into software that could be reprogrammed. It was not fully accurate but close enough for a clever programmer to recreate the software.
@khalilshahyd9063 Cybertruck is a spectacle because of its unique aesthetic and technical marvels. To compare Ocean and Cybertruck doesn't make sense since they are very different beasts.
It is just great to see people interested in EVs, that is what is really important.
the best idea so far I have seen is TATA MOTORS (India) buying Fisker and integrating the OCEAN into their Landrover fleet.
Has been released in a video by a british guy cause I have not even known that there was a right driven version built.
It would design wise perfectly fit to that evoque or however it is called.
Here is the title of the video
Should Tata (Land Rover) buy Fisker and make THIS a new Range Rover Evoque Electric?
It's an "idea", not a possibility.
@@khalilshahyd9063 whatever, but I have been in the european car industry from the oldest car manufacturer to the biggest car manufacturer for 3, no 4 decades and I have seen Ford buying Jaguar in multiple attempts and not getting it right.
Tata would get access to the tech needed to electrify more and better cause Land Rover would benefit from the OCEAN as it is , I mean continuing the production with a then improved model.
Nice job guys. Keep it coming. As a FOO I’m trying to not go down the rabbit hole and stay hopeful that there’s a Sliver Lining (my color 😂) coming. Yah gotta have hope. 🎼🎻🤣
I used to work for TATA steel its a giant steel factory in the Netherlands. They have the money for it thats for sure.
Its actually a good idea. LandRovers are really good looking but incredibly badly built as well...
Do you understand that “deferred revenue” means absolutely nothing on their income statement. This is simply a liability for the services they promised, but did not deliver. There is absolutely NO money set aside that the company will receive if they deliver the service, it’s simply a bookkeeping entry.
Agree
Fisker has failed to pay Hertz for the rental period during servicing their customers' cars, and now Hertz is passing the bills on to the customers. It's quite a mess right now.
Wow. Sad to hear this
Disheartening conversation but informative. I still have the absolute desire to have one in my driveway. This has been the FIRST EV that has grabbed my attention. 👍💯
Thanks for watching
You may like the design but the bugs would have you questioning your decision. Just check out how many used Oceans are available with less than 1000 miles. EVs are all about the software. I own two and would never consider this unfinished mess. Experienced EVers want good BMS, PAAK, refined regenerative braking, battery efficiency, excellent software & navigation and access to Tesla SCs. This vehicle only has dumb cruise control and no battery pre-conditioning. NFG!
@melvinholland9656 I wanted an Ocean so bad but after everything that came out and is going on, I had to reconsider. I have an R2 reservation now.
Just think of how many expensive RCs you could buy with that money. Hell you could build a pretty sweet race track to drive them on as well.
Thanks for the updates Adam. I have a morbid curiosity with watching all this Fisker stuff unfold. The thought of Tesla buying Fisker just to make a meme of it had me laughing. I wonder how much time is left on the deathclock for this company. Hope you have something non Fisker related with the big upcoming reveal. Keep up the good work.
I think you’ll like the reveal. Non-Fisker for Certain
Thanks Adam and Brian. As a small FOE owner it will be interesting to see if the Carpathia comes in and picks us survivors from the Ocean. That said I’ve been enjoying Cape Cod mode for a couple days now myself 😂.
I’m sure it’s nice to ride with the roof open!
Cape cod mode?
Outstanding video, thank you both!! I’m an owner as well, and was listening to every word! One of the best I’ve seen so far, lots of great opinions and possibilities….
My Ultra showed up Saturday morning. Last night received the tracking number from USPS that the MCO/Title will be arriving Friday so that I can go to the RMV to get my plates.
Good luck with everything! Thanks for watching
A bit off topic: I received my FOO title and permanent plates today. A great day! It took 5 months and 16 days after my Ocean was delivered. To others waiting, a bright spot: A Fisker employee told me that they are n😂ow doing the work in house, no longer using a 3rd party company.
I appreciate this! Thank you for sharing, and I’m so glad your got your plate!
Problem with Fisker is not just cash, it is much more complex than that. The market is very different from what it was just a couple years ago. It is now crowded with offerings and ultracompetitive. All mayor legacy automakers have EVs now and are loosing tons of money on each sale. Add the startups (Rivian, Lucid, etc.) trying to get a slice of the market while also loosing a lot of money. There are also at least 5 mayor Chinese manufacturers that have very competitive, attractive and reasonably affordable EVs. They also have the support and access to the deep-pockets of the Chinese government. Only Tesla is really making money due to its technology, integration and scale.
There is still value on Fisker, but even a restructured and well capitalized company is facing an uphill battle.
Well said. 100% agree
Adam is spot on. I've been saying to fellow owners and friends its access to the U.S. market, government approvals/licenses etc. that will have particular value to the Chinese. Chinese companies are investing heavily and buying companies in Mexico for all their goods. Why? NAFTA. They are nearshoring and creating a path to continue to sell in the U.S. even if the new cold economic war gets colder. My 2 cents is that for a big Chinese automaker, buying Fisker even for $1b makes sense. We'll see.
I’m super curious to see what shakes out
I definitely think there’s value in the Ocean platform being a vehicle that is homologated in 20 or more countries. Getting an EV to that point is costly. With the cost of carbon credits/ZEV fines, a manufacturer that is expecting to fall foul of fleet emissions rules, would be quite interested. Chinese entry into (especially) the US market also has worth. I certainly see either option as having at least $1b in worth. Henrik and Geeta should be utterly embarrassed about how mismanaged Fisker has been.
BTW Bloomberg issued (30/04/24) a really good article about the mess Fisker got into with the Notes holder. Worth a read.
@matpat2636 Even though I agree with much of what you have stated, building and running an EV auto maker is incredibly hard. There are very few successful ones, basically BYD and Tesla. As much as Henrik and Geeta made some fundamental errors of epic proportions, the fundamentals of making a vehicle company work are immense.
@@tonespeaks I don't disagree how difficult it is, but the 10k lays out just how many mistakes they made. Those mistakes have brought the company down in 6 months. They should have hired professionals (as per the auditors findings in the 10k). Unfortunately they failed at the fundamentals. Fundamentals that any business should expect to face, whether in the automotive sector or not.
@@matpat2636 Like I said they made Epic mistakes. To be honest, I think it was doomed from the start. This idea has been tried before and more or less failed. The problem with the methodology is that the investments don't create value. The business is so capital intensive, without any sort of assets to backup loans, means that future loans will be at great costs.
I’m breaking down the Bloomberg article in an upcoming video. Good looking out
A homologated vehicle in USA, Canada and Europe should be of value to a buyer. The factory tooling for the Ocean is of value as well.
Agree
I recommend calling them Isker because you guys all got the F.
Well played
Thank you guys…appreciate the Fisker discussion. Wish Fisker had been the one’s talking to us.
I Understand. Thanks for watching
The rear opening of the Pear is reminiscent of 1971 full size GM station wagons, the mechanisms to make it work where not totally reliable at the time but I am sure 50 years of mechanical progress will make it work seamlessly.
Thanks for the feedback.
Tata is a good shout and would open up Land Rover to an immediate in with a true electric vehicle. In the UK, a lot and I mean a lot of comments I get about my FOO is that its a Land Rover Evoque
Even the name would suit it I suppose given the EV at the beginning....
Good points
The Pear's tailgate was not an actual innovation but rather a resurrection of a production feature of the 1975 Buick Estate Wagon (and some other GM derivatives). Video here: ruclips.net/video/SwtxPd-2mh8/видео.html
Thank you for this!
My service tech came and fixed my issues today. I was missing some updates. Keyfob works great so far, Bluetooth is now working automatically. Oh and navigation is working again! Ordered new rear lights as they go on not due to software, it’s hardware. Tomorrow I’m going to drive it more to see how it all works but so far no issues
Great to hear!
Rear lights are a critical safety feature. I would strongly recommend to hold on driving until they are fixed. It is actually illegal to drive with non-working rear light, even in day light conditions.
Thanks for a great show. Just FYI the new dealer announced in Denmark is a Peugeot dealer = Stellantis.
Thank you for this! And thanks for watching!
Thank you two for the video. You two hit the nail straight on the head. The FM29 platform Magna told Fisker they could get a more complete system but Fisker opted for the cheaper version. Now would that have increased the price for the vehicle to bring to the market?
I think the Magna platform would have needed less initial service and warranty work early on, allowing technicians to stay current with service, and preventing a lot of the initial problems. Thanks for your feedback
Ocean sickness😂. Gonna def check that out that title is hilarious
Thanks for watching!
Seems like some folks feel burnt by Fisker and only want blood sacrifice in return. 😅
True
Hopefully the only thing that saves Fisker is a buyout. A Japanese brand or German would be best for the next step for Fisker.
There are possibilities
According to some financial reports noteholder is Susquehanna International Group.
Correct
Looking forward to your big reveal
Me too!
My question is what does Henry Fisker gains from only cover its debts?
His company is toast. There is nothing to gain.
How much is all the tooling worth to build the Ocean?. Even if they don’t own the tooling , the years saved, testing, homoligation, EPA approval, design and features. That would be my question if I was a company like Subaru who already doesn’t make their own EV’s, is that an attractive offer? Along with adding dealers and immediate service locations? Longest range story too. That would be the only reason I think it could be sold
I am keeping hope. However, The more I learn, the less I have.
I just watched your most recent video. Holy crap, almost seems like they set this up to fail and that investment company knew they could take advantage. I’m losing hope as well.
Just like other asset light business models, Apple etc Fisker $FSR holds IP intellectual property over EV Auto that have received world class awards. Again check out Carvana $CVNA restructuring for a vision at Fisker $FSRN
Thanks for your feedback
Fisker didn't sell his name to Karma, why would he lose his name this time?
Last time the company had assets.
At least there’s so many oceans around someone can make money producing parts maybe.
A possibility.
There's only been 6400 sold, 10,000 built in US and Europe. Not an overwhelming number.
You didn’t mention Tata Motors in India as a potential buyer - they already own Jaguar Land Rover who desperately need a smaller less costly EV in their range of vehicles as IPace will soon stop production at Magna. Land Rover has no EV on the market and is working on a Range Rover BEV, but that will be so expensive that few people will be able to afford it.Tata has huge amounts of financial reserve and could build an Ocean in India for a lot less than in Europe, and India isn’t China!
TATA could also be a possible alternative
if we have to wonder who is actually running a company... like could there be a more clear indication of how fucked that company is
It’s very clear. Very bad news.
Tata = is ‘they’ There is only one company involved here. It’s the same as when they claimed four vehicles, but only have one. See a pattern?
ruclips.net/video/ilQSUm--Ins/видео.htmlsi=N5YcnYYg0fPi6lhj
Fisker is perhaps not so much a shell corporation than a special purpose vehicle company with the automotive interest being entry into the U.S. car market. If bankruptcy was purely inevitable it would have occurred already. Creditor protection would have been sought immediately.
The asset/liability mismatch is due to the accumulated deficit. (which hasn’t been formally declared) The company value is approximately the ‘debt’ (accumulated deficit)divided by the float.
Thanks for the feedback
@@Aslash304 Hey Adam, take a flyer and ascertain for yourself the precise meanings of ‘asset/liability mismatch’ and ‘accumulated deficit.’
They have very specific meanings under US securities law!
@@effingsix3825 if I made a mistake, I’m happy to address it. If you’re unsatisfied with my analysis, you could specify the part that you’re unsatisfied with. Telling me to look up a term in the dictionary sounds more like an angry parent than an engaged commenter. I appreciate it either way
@@Aslash304 Hey, Bud! No mistakes - just think you might appreciate what the term ‘debt’ might mean on the balance sheet!
Fisker could remain a US company. Falling to a business based outside the USA is the last thing I want. The largest automakers have to get to the future. The ICE is not going to stay. The future is now.
I’m hoping that you are right. Fingers Crossed
They have spent £1bn on R&D and tooling and they have bought the Ocean to market and have designs for the Alaska and PEAR. They botched the software logistics and sales, but the car designs still have worth. Launching a new car model from scratch will cost a least £1bn,.
For perspective, Apple spent £10bn on project Titan and have not brought a single car to market and now they have cancelled to project. If Apple can't suceed at this then it shows how hard it is.
Good points here. Thanks for sharing your insights