According to media reports, sources familiar with the matter revealed on March 13 that the electric car startup Fisker has hired restructuring advisors to assist with a potential bankruptcy filing.

Fisker's main product is the Ocean electric SUV, and the company operates with a unique business model. The Ocean, its only model in production, is manufactured through outsourced production by Magna in a factory located in Austria, which has previously produced vehicles for Mercedes-Benz, BMW, Jaguar, and others.

Last year, Magna produced 10,193 SUVs for Fisker, but delivery volumes were less than half. Fisker expects to deliver approximately 20,000 vehicles this year.

Last year, Fisker's stock price plummeted by nearly 95%, and the company reported receiving a delisting notice from the New York Stock Exchange last month as its stock price remained below $1 for over 30 consecutive trading days.