Fisker Files for Bankruptcy / Polestar Expands Sales Network / Wuling Bingo Launch / Berlin Cuts E-Bus Budget / BMW i5 eDrive40 Review

1. Fisker Files for Bankruptcy

For months, Fisker had been struggling with sales issues. Now it’s official: the US electric vehicle startup has filed for Chapter Eleven bankruptcy, a process similar to self-administration insolvency in Germany. Once seen as a potential rival to Tesla, Fisker, founded by Danish car designer Henrik Fisker, never reached Tesla’s size, falling short of its own sales expectations. The company has faced challenges for a long time, including significant delays in launching its flagship electric SUV, the Ocean, due to supply chain problems. Fisker often made headlines, but mostly for negative reasons.

2. Polestar to Expand Sales Network

Polestar plans to expand its retail presence through existing and new partnerships. While the Swedish-Chinese electric car brand remains committed to online direct sales, it also aims to enable customers to order their vehicles traditionally through the growing network of Polestar Spaces and service points. At the beginning of the month, the company transitioned to a so-called “non-genuine agency system” in Sweden and Norway. In a “genuine” agency model, the purchase contract is directly between the customer and the manufacturer, with all obligations, including warranty, lying with the manufacturer. In the “non-genuine” agency model, dealers continue to play a significant role, with responsibilities such as discounts and used car trade-in marketing remaining with them, depending on the agency agreement’s specifics.

3. SAIC-GM-Wuling Launches New Wuling Bingo

In China, the competition among small electric vehicle manufacturers is intensifying with increasingly lower prices. The joint venture SAIC-GM-Wuling has now introduced the latest version of the Wuling Bingo, further reducing its starting price by approximately 400 euros to 7,300 euros locally. Since its debut last year, the Wuling Bingo has become a bestseller. According to a Chinese media report, the Bingo has already sold 280,000 units since its market launch. The new Wuling Bingo is available in three different drive variants, offering ranges of 203, 333, or 410 kilometers according to the Chinese test cycle.

4. Berlin Cuts BVG E-Bus Budget

The Berlin Senate has drastically reduced the funds allocated to the Berlin Transport Company (BVG) for transitioning to electric buses. According to the “Tagesspiegel,” the budget for E-bus procurement this year has been slashed from the planned 33 million euros to just around 8 million euros. These figures come from a report by the administration to the House of Representatives’ transport committee. It has been known since April that Berlin’s ruling parties, the CDU and SPD, plan to save 130 million euros on buses and trains this year. It is now clear that this will also affect BVG’s electric bus procurement. The delay in constructing the Marienfelde depot appears to be the reason for postponing the arrival of new E-buses.

5. BMW i5 eDrive40 Review: The Almost Perfect Long-Distance Cruiser

The BMW 5 Series is Munich’s business-class staple. In the current generation, the sedan and the estate are available not only with combustion engines but also as fully electric models. Our author, Robin Engelhardt, tested the i5 over 1,700 kilometers and found joy not just in driving but also in traveling. Among the various design experiments seen from Munich in recent years, Engelhardt views the i5 as a delightful highlight. The seating comfort is commendable, especially on the rear bench, which is often neglected in many other electric sedans.