L.A.-area EV maker Fisker cuts 15% of staff as it runs low on funds
9 months, 3 weeks ago

L.A.-area EV maker Fisker cuts 15% of staff as it runs low on funds

LA Times  

Car enthusiasts view a Fisker Ocean electric vehicle at the 2021 LA Auto Show. The EV maker said Thursday it plans to lay off 15% of its staff and that it might not be able to operate for another year without new financing. Fisker Inc. plans to cut 15% of its workforce as the electric-vehicle maker faces “substantial doubt” about its ability to continue operating if it can’t secure new financing. The head count reduction largely affects sales staff and comes as Fisker said in a statement that its current capital may not be enough to sustain it over the next 12 months without additional funds. Fisker estimates it has about $500 million split between its vehicle and parts inventories, with current sales generating more cash, the CEO said.

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History of this topic

EV startup Fisker files for bankruptcy, second Henrik Fisker car company to do so
6 months ago

EV startup Fisker files for bankruptcy, second Henrik Fisker car company to do so

Hindustan Times  

US electric vehicle maker Fisker filed for bankruptcy after deal talks with a big automaker collapsed as the company deals with the fallout of a rapid cash burn to deliver its Ocean SUV in the United States and Europe. Fisker Group Inc filed for Chapter 11 bankruptcy in Delaware and listed estimated assets of $500 million to $1 billion as …

Electric-vehicle startup Fisker files for bankruptcy
6 months ago

Electric-vehicle startup Fisker files for bankruptcy

Live Mint  

Fisker, a much-hyped startup that sought to mimic Tesla’s success, has filed for bankruptcy, roughly a year after releasing its first electric-vehicle model. CEO Henrik Fisker’s first run at operating an automotive company also ended in bankruptcy, shortly after launching its first model, the $100,000 plug-in hybrid Fisker Karma. The next month, Fisker said it was halting production of the …

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