Fisker has sought approval from a bankruptcy judge to sell its inventory of 3,321 Ocean electric SUVs to New York-based vehicle-leasing company American Lease for $46.25 million.

The proposed deal would see the vehicles sold for approximately $14,000 each.

This move comes after Fisker filed for Chapter 11 bankruptcy protection last month.

Originally, some variants of the Ocean SUV were priced at around $70,000.

However, facing financial difficulties, Fisker reduced the price of its cheapest variant to approximately $25,000 to generate the necessary capital to meet its debt obligations.

American Lease, which primarily serves rideshare drivers in and around New York City, had initially agreed to purchase 2,100 Ocean EVs in May, just two weeks before Fisker’s bankruptcy filing.

However, the company later increased its offer to acquire all available units.

This sale is part of Fisker’s broader efforts to stabilize its finances amidst bankruptcy proceedings.