A New York leasing firm may be getting the deal of the decade amidst Fisker’s ongoing bankruptcy proceedings. As per a filing, Fisker would be entering an agreement to sell its entire Fisker Ocean inventory — all 3,231 units — to American Lease for up to $46.25 million.
American Lease is a New York firm that leases vehicles to ride-share users. American Lease would be getting quite a deal for Fisker’s entire Ocean inventory, as the firm has agreed to pay just between $2,500 to $16,500 for each unit.
A range of $2,500 to $16,500 is quite substantial, and as noted in a Car and Driver report, this is due to the damaged and previously owned vehicles that would be acquired by the leasing firm. Damaged Fisker Oceans will be priced at the lower end of the range, while units that had a previous title would be priced a bit more than $3,200 per unit.
As per Fisker in its filing, vehicles whose ownership is evidenced by a Manufacturer’s Certificate of Origin (MCO) and are in reasonably good working order would be priced at $16,500 per unit. Fisker need that it has 2,711 Fisker Ocean units that are in good working order. The company also has 141 Oceans that are damaged, 28 units that are tagged as MCO – Engineering, and 351 that were previously titled.
The final price of American Lease’s purchase of Fisker’s Ocean inventory is still not finalized, though the full price of the acquisition is capped at $46.25 million. That’s a significant discount compared to the Fisker Ocean’s actual selling price before the EV maker filed for bankruptcy. The Fisker Ocean, after all, started at just under $40,000 for its base Sport model. Prices of the vehicle went as high up as over $70,000 for the range-topping Fisker Ocean Extreme.
That being said, American Lease is also taking in some risk by purchasing Fisker’s remaining Ocean inventory. As per the filing, Fisker will not have any obligation to repair or maintain the vehicles that the leasing company will acquire, so warranties on the vehicles will not be honored. Fisker would also have no obligation to update the vehicles’ software beyond V2.1, though it will provide the leasing firm with “all relevant source code or other proprietary software operating elements, as well as existing developer work, as may be necessary or required for the operability of the Vehicles.”
Fisker’s filing about the sale of its remaining Fisker Ocean inventory can be viewed below.
Fisker Inventory Bulk Sale by Simon Alvarez on Scribd
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Elon Musk
Donald Trump shares thoughts on Elon Musk’s DOGE step back
The U.S. President also noted that Musk is a great patriot, and that the people who attack Teslas are “sick.”
During Tesla’s first quarter earnings call, CEO Elon Musk announced that starting in May, he would be stepping back from the Department of Government Efficiency’s (DOGE) daily operations.
Musk’s comments were received positively by TSLA investors, resulting in the company’s stock rising despite Tesla missing Q1 expectations.
Musk’s Comments
In his opening remarks at the Tesla Q1 2025 earnings call, Musk acknowledged that there has been some blowback to Tesla due to his activities at DOGE. And while he believes that the protests against Tesla are very organized and likely paid for, he also noted that it is time for him to allocate more of his time to Tesla.
“Starting probably next month, May, my time allocation to DOGE will drop significantly… I’ll be allocating probably more of my time to Tesla now that the major work of establishing the Department of Government Efficiency is done,” Musk noted.
Trump’s Response
Considering Musk’s comments, it was no surprise that United States President Donald Trump was asked about the CEO’s impending step back from DOGE. Trump stated that he “can’t speak more highly about any individual,” and that Elon Musk has contributed a lot to the administration due to his work with DOGE. The president highlighted, however, that the backlash against Tesla has been extremely unfair.
“I also know that he was treated very unfairly by the, I guess he called the public, by some of the public, not by all of it. He makes an incredible car. Everything he does is good, but they took it out on Tesla, and I just thought it was so unfair, because he’s trying to help the country, but he has helped the country,” Trump stated.
The U.S. President also noted that Musk is a great patriot, and that the people who attack Teslas are “sick.” Trump also praised Elon Musk’s initiatives, stating that all the CEO’s projects are great, from Starlink to Neuralink to SpaceX to Tesla.
Volkswagen surpassed Tesla in Q1 2025 electric vehicle (EV) sales in Europe.
The German automaker sold 65,679 battery EVs compared to Tesla’s 53,237 in the first three months of the year, per JATO Dynamics data. Volkswagen’s registrations soared 157% year-over-year (yoy), while Tesla saw a 38% decline in the same period, the steepest among the top 30 brands. The German automaker’s strong performance highlights a growing competitive landscape in the EV market.
Despite losing the overall lead, Tesla’s Model Y and Model 3 remain the top two in Europe’s battery EV registrations. Volkswagen’s ID.4 ranked third in EU registrations, trailing the Model 3 by 2,000 units.
Model Y registrations dropped 43% in March, but the Model 3 increased 1% in the first quarter. The decline in Model Y registrations could be linked to Tesla’s upgraded Model Y, which debuted at the beginning of the year. In the first quarter, Tesla retooled and upgraded its factories worldwide to produce the new Model Y.
“As the brand continues to deal with a host of PR issues in addition to the changeover of the Model Y, Tesla is now relying on the Model 3 to offset its losses. Despite the controversy surrounding the brand’s CEO and the limited availability of the new Model Y, Tesla continues to perform well,” said Felipe Munoz, a global analyst at JATO Dynamics.
Tesla addressed its Q1 challenges during its recent earnings calls, with CEO Elon Musk attributing the dip to seasonal and strategic factors.
“Now, Q1, [the] first quarters of a year, are usually pretty tricky. Because it’s usually the worst quarter of the year because people don’t want to go buy a car in the middle of winter during the blizzard. So we picked Q1 as a good quarter to do a cutover to the new version of the Model Y and we changed the production of the world’s best-selling cars with — remember, the Model Y is the best-selling car of any kind on earth with a 1.1 billion unit per year output of a single model,” Musk stated.
Volkswagen’s surge reflects its continued focus on and dedication to EVs. While Tesla’s Model Y remains the global best-seller, Volkswagen’s momentum signals intensifying competition. As both companies navigate market dynamics, Tesla’s focus on its Robotaxi network and upcoming launches will be critical to regaining its edge.
Elon Musk
Neuralink targets $500 million raise at $8.5 billion valuation: report
The news was initially reported by Bloomberg, which cited sources reportedly familiar with the matter.
Elon Musk’s Neuralink is reportedly gearing up for a $500 million funding round at a $8.5 billion pre-money valuation.
The news was initially reported by Bloomberg, which cited sources reportedly familiar with the matter.
The Alleged Funding Round
Preliminary discussions with investors, which could value Neuralink at $9 billion post-money, have reportedly started. Terms for the funding round remain fluid, however, as per one of the publication’s sources. Neuralink, for its part, has not issued a comment about its alleged funding round.
That being said, Neuralink is one of Elon Musk’s smaller ventures, with PitchBook valuing the brain-computer interface startup at $3.5 billion in November 2023.
Neuralink’s Ambitious Vision
Neuralink aims to create devices that enable users to interact with tech devices using only their brain. Neuralink is currently focusing on paralyzed individuals and neurodegenerative disease patients, though Musk has also hinted at Neuralink’s technology being used to address vision problems and other health issues.
Neuralink has made a lot of headway in its goals, with the startup recently announcing that it has expanded its human trial to three patients. All three are participants in the company’s ongoing primary and convoy study.
Musk’s Soaring Valuations
Neuralink’s potential capital raise aligns with skyrocketing valuations for Elon Musk’s other firms. While Tesla’s valuation remains volatile due to its publicly traded nature, his private space company, SpaceX, hit an impressive $350 billion valuation in December. His artificial intelligence startup, xAI, reached an $80 billion valuation following its merger with social media platform X.
Musk’s holdings in his companies have allowed him to top the Bloomberg Billionaires Index with a net worth of $310 billion as of writing.
Donald Trump shares thoughts on Elon Musk’s DOGE step back
Tesla trails Volkswagen in Q1 EV sales, Model Y still on top
Neuralink targets $500 million raise at $8.5 billion valuation: report
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