The SEC closed its investigation into Fisker

The Securities and Exchange Commission closed its probe into bankrupt electrical conveyance startup Fisker past September, astir one twelvemonth aft the probe was opened.

TechCrunch learned the probe was closed erstwhile the fiscal regulator responded to a Freedom of Information Act (FOIA) petition successful January. The SEC’s FOIA section said it had identified “approximately 21.7 gigabytes of electronically maintained records” related to the investigation. The bureau doesn’t typically marque records disposable if investigations are inactive open, and it explained successful a follow-up email that it “was closed successful September 2025.”

It’s not wide however acold the probe progressed. The SEC revealed the beingness of the probe successful an October 2024 filing successful Fisker’s bankruptcy case. The bureau wrote astatine the clip that it had sent subpoenas to the institution and that it whitethorn request to “request oregon subpoena further documents successful the aboriginal relating to its ongoing investigation.”

A spokesperson for the bureau declined to comment. Founder and erstwhile CEO Henrik Fisker did not respond to a connection seeking comment.

The closure of the Fisker probe comes amid a important driblet successful enforcement actions and settlements during President Trump’s 2nd term. The SEC initiated 313 enforcement actions successful 2025 — the lowest successful a decennary and down 27% from the the last twelvemonth of President Biden’s term, according to an investigation by instrumentality steadfast Paul, Weiss. Only four of those enforcement actions were against nationalist companies. Total monetary settlements fell 45% from 2024.

Fisker was 1 of the past remaining electrical conveyance startups nether probe by the SEC. Over the past fewer years, the bureau settled fraud oregon different charges brought against Nikola, Lordstown Motors, Canoo, Hyzon Motors, and others. In 2023, it closed an investigation into Lucid Motors without a lawsuit.

The lone known progressive probe remaining into an electrical conveyance startup is the 1 related to Faraday Future, which is present astir 4 years old. In July 2025, the SEC sent Faraday and aggregate executives “Wells notices,” oregon letters that pass a taxable that the investigators urge an enforcement action. No enactment has been taken since those letters were sent, though, and Faraday’s ain regulatory filings bespeak it has not yet responded to the Wells notices.

Fisker filed for bankruptcy successful June 2024 amid a raft of problems with its archetypal EV, the Ocean SUV. The institution spent years making bold promises astir processing extremist caller technologies, but pivoted from those ideas aggregate times. It besides had large fiscal occupation successful the run-up to its collapse. It utilized the Chapter 11 bankruptcy process to merchantability disconnected its remaining inventory of Oceans to a institution that leases vehicles to ride-hail drivers and liquidate its different assets.