SEC Ends Investigation Into Electric Vehicle Maker Fisker
▼ Summary
– The SEC closed its investigation into the bankrupt EV startup Fisker in September 2025, roughly a year after it began.
– The investigation’s closure occurred during a period of significantly reduced SEC enforcement actions and monetary settlements in 2025.
– Fisker was among the last EV startups under SEC scrutiny, following settlements or closed probes into companies like Nikola and Lucid Motors.
– The only known active SEC investigation into an EV startup now involves Faraday Future, which received “Wells notices” in mid-2025.
– Fisker filed for Chapter 11 bankruptcy in June 2024 after facing major problems with its Ocean SUV and financial troubles.
The Securities and Exchange Commission has formally concluded its investigation into the bankrupt electric vehicle manufacturer Fisker. The probe was closed in September 2025, approximately one year after it began, according to information obtained through a Freedom of Information Act request. While the SEC identified a substantial volume of records related to the case, the agency does not typically disclose details from investigations that are no longer active, and the specific findings or progress of the inquiry remain unclear.
This development marks the end of a significant regulatory chapter for the troubled automaker. The SEC had initially disclosed the existence of its investigation in an October 2024 filing within Fisker’s bankruptcy proceedings, noting at the time that it had issued subpoenas to the company and might require additional documents. A spokesperson for the SEC declined to provide further commentary on the matter, and attempts to reach Fisker’s founder, Henrik Fisker, were unsuccessful.
The closure of the Fisker case occurs during a period of notably reduced enforcement activity by the SEC. Data analysis indicates a sharp decline in both initiated actions and financial settlements in 2025, representing the lowest enforcement levels in ten years. This trend coincides with a broader reduction in regulatory actions against public companies, with only a handful facing SEC enforcement last year.
Fisker was among the final EV startups under the SEC’s scrutiny, following a series of settled cases involving other prominent names in the industry. Companies like Nikola, Lordstown Motors, and Canoo have previously faced fraud or related charges from the regulator. With the Fisker investigation now concluded, attention shifts to the lone remaining known active probe in the sector, which involves Faraday Future. That investigation, ongoing for nearly four years, reached a point in mid-2025 where the SEC issued “Wells notices” to the company and several executives, signaling a recommended enforcement action, though no subsequent steps have been publicly reported.
Fisker’s path to bankruptcy was paved with operational and financial difficulties. The company, which filed for Chapter 11 protection in June 2024, struggled with its flagship Ocean SUV and faced criticism for repeatedly shifting its technological and business strategies. Its financial instability ultimately led to a liquidation process, where its remaining vehicle inventory was sold off to a fleet leasing company.
(Source: TechCrunch)
