The electric vehicle sector has faced severe financial distress over the last two years due to rising costs from inflation and high interest rates, which led to several bankruptcy filings and business closings. Fisker Group Inc., which began deliveries of its Ocean battery-electric crossover SUV in 2023, filed for Chapter 11 bankruptcy on June 17, 2024, shut down, and liquidated its assets. Ideanomics Inc., the parent company of another EV maker Via Motors, on Dec. 4, 2024, filed for Chapter 11 bankruptc ...