“Fisker Incurs Financial Miscalculations: Customer Payments Go Unaccounted For Over Several Months”
Fisker temporarily lost track of millions of dollars in customer payments as it scaled up deliveries, leading to an internal audit that started in December and took months to complete, TechCrunch has learned.
The EV startup was ultimately able to track down a majority of those payments or request new ones from customers whose payment methods had expired.
Red flags raisedFisker has warned investors since last year about problems with its internal accounting practices.
Fisker’s poor internal procedures have created problems beyond keeping track of payments.
Fisker hired contractors in February to help resolve the title and registration problems, but the backlog was immense, according to the people.
