Fisker files for bankruptcy

California-based electric vehicle manufacturer Fisker Group Inc. has filed for Chapter 11 bankruptcy protection.

The filing lists liabilities between $100 million and $500 million. More than 200 creditors are included in the filing.

“Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently," Fisker officials said in a statement. "After evaluating all options for our business, we determined that proceeding with a sale of our assets under Chapter 11 is the most viable path forward for the company.”

Read more from the Los Angeles Times.