Stock

US auto safety regulator closes probe into nearly 7,000 Fisker electric SUVs

1 Mins read

(Reuters) – The U.S. auto safety regulator closed its probe into 6,971 Fisker (OTC:FSRNQ) Ocean SUVs on Friday over inadvertent activation of the automatic emergency braking system, as it does not expect to get further information from the bankrupt EV maker.

Fisker filed for bankruptcy protection in June, citing a hyper-competitive EV market and operational challenges that hurt its ability to stem cash burn and raise additional funds.

The U.S. National Highway Traffic Safety Administration said the company’s employees it was in touch with said late last month that all of the startup’s workers had been dismissed.

“The closing of this investigation does not constitute a finding by NHTSA that a safety-related defect does not exist,” the regulator said, but it has no new information to take the probe further.

The regulator said it had received complaints alleging the automatic emergency braking system was triggered without an obstacle in the vehicle’s path, resulting in the car suddenly slowing down or coming to a halt, risking a crash.

Fisker has recalled thousands of its vehicles to resolve other issues, however, it has not taken a similar action to fix the issue related to this probe.

This post appeared first on investing.com

Related posts
Stock

UMG shares rally after new multi-year pact with Spotify

1 Mins read
Investing.com — Universal Music Group (AS:UMG) and Spotify (NYSE:SPOT) have announced a new multi-year deal for recorded music and publishing, the companies…
Stock

British Land stock drops following stake sale

1 Mins read
Investing.com — Shares of British Land (LSE:LON:BLND) fell 1.5% after the company announced the sale of a 50% stake in Broadgate REIT,…
Stock

Italy’s MPS shares fall ahead of Mediobanca board meeting on bid

2 Mins read
By Giulia Segreti and Valentina Za ROME/MILAN (Reuters) – Shares in Monte dei Paschi (MPS) fell again on Monday, extending Friday’s losses,…

    Fill Out & Get More Relevant News

    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.