A Lifeline for Fisker Ocean Castaways?

In North America, a glimmer of hope for Fisker Ocean owners, while in Europe, the wait continues.

Since Fisker’s bankruptcy in 2024, Fisker Ocean owners have been living a nightmare. These electric SUVs, already drastically devalued, have become a burdensome liability with no manufacturer support. But for some North American owners, a solution is beginning to emerge thanks to Rivian and JPMorgan Chase.

A buyback program, revealed through letters sent to owners and shared online, offers three options:

1. Sell their Fisker directly to Rivian.
2. Trade it in for a credit toward a new Rivian R1S or R1T.
3. Sell non-running wrecks to Chase at a fixed price.

The buyback values are calculated based on the original price, minus deductions for usage. Some owners received offers exceeding $36,000, well above the market value, where Fisker Ocean vehicles sometimes go for as little as $10,000. An additional premium of $6,000 is offered for long-range versions of Rivian models. However, this program remains limited: only owners who financed through Chase or are involved in a class action can benefit. Those who purchased a used Fisker after the bankruptcy are excluded.

For Europeans, the situation is much bleaker. No similar program has been announced, leaving owners with vehicles that are impossible to sell and no financial support. But Rivian’s strong ties with Volkswagen make it conceivable that an equivalent solution could be offered in Europe by the German brand to the few hundred Fisker owners?

This Rivian initiative goes beyond simple buybacks: it is a marketing strategy to attract Fisker owners, often still attached to electric vehicles but disappointed with the brand. With controlled production and a solid image, Rivian positions itself as a reliable alternative in a rapidly changing market.

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