Following the disastrous launch of its Ocean SUV, which resulted in a multitude of customer complaints, Fisker (OTCMKTS:FSRN) has filed for Chapter 11 bankruptcy protection. The news shouldn’t come as a major surprise, as Fisker was removed from the New York Stock Exchange earlier this year before defaulting on its debt.
“But like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to continue operating efficiently,” said a Fisker spokesperson. Now, the company is holding advanced discussions with its stakeholders concerning possession financing.
However, Lucid (NASDAQ:LCID) seems to be taking advantage of Fisker’s woes and the name of its flagship vehicle. According to Electrek, the pure-play EV company submitted a trademark filing to the United States Patent and Trademark Office (USPTO) for the “Lucid Ocean” vehicle name.
LCID Stock: Lucid Motors Files for Ocean Trademark
Lucid has positioned its vehicle names with nature themes, such as its Air and upcoming Gravity SUV. At the same time, Lucid filing an Ocean trademark submission doesn’t guarantee that a future vehicle will carry that name.
Its past submissions include “Air 1” and “Palos,” while Lucid currently doesn’t sell any vehicles with these names. Active submissions from the company include “Earth,” “Earth Dream Edition,” and “Air Cross.”
“While the application awaits examination, it’s important to point out that this filing could just be Lucid covering all of its bases on the potential nomenclature of new models,” wrote Electrek. “There’s a very strong chance we will never see a BEV from Lucid called the Ocean.”
So, while the Ocean name certainly fits with Lucid’s narrative, it’s likely that the company is just snatching up potential names before it makes a final decision.
As of now, the company has plans for a new mid-size SUV launch in 2026 in the $50,000 range. Production of the vehicle, which doesn’t have a publicized name yet, is planned for late 2026. Furthermore, the vehicle will be built at Lucid’s AMP-2 factory in Saudi Arabia.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
