Fisker may not make it through 2024;
Fisker said that there is “substantial doubt” that it will have enough money to make it through the year, the company said in filings with the Securities and Exchange Commission yesterday. As such, it’s embarked on a cost-cutting spree, laying off 15 percent of employees, while casting around for more investment. Fisker said it’s “in discussions with an existing noteholder about potentially making an additional investment in the company.”
“We are aware that the industry has entered a turbulent, and unpredictable period,” Fisker CEO Henrik Fisker said in a statement. “With that understanding and taking the lessons learned from 2023, we have put a plan in place to streamline the company as we prepare for another difficult year.”
The first time Fisker went under someone was putting Corvette powertrains into the Karma. It’s the only Fisker I would want to own
https://www.lsxmag.com/news/fisker-karma-v8-conversion-company-has-hundreds-of-orders/
“EV sales are up …”
May as well start with a lie, eh
Up in flames?
Meanwhile, announced yesterday in Canada:
“The Lion Electric Co. says it is laying off 100 more employees or about seven per cent of its total workforce in a move to reduce costs.
The move affects workers — mainly on the nightshift — at its Saint-Jérôme factory in Quebec’s Laurentian region.
The maker of electric buses and trucks also laid off 150 employees last fall.”
And the reason why: delays in getting government subsidies
https://kitchener.citynews.ca/2024/02/29/lion-electric-lays-off-100-more-workers-after-100-million-earnings-loss/amp/
Wait…what??
Didn’t they go belly up 10 years ago?
Government must have bailed them out. Only government would finance a failing venture, because it’s not their money anyway and it supports the narrative.
FASTER PLEASE!
Helluva business model, having to depend upon taxpayer subsidies to stay viable. The whole EV thing is a costly joke.
Again.. EVs have their place.. Replacing ICE vehicles entirely is not one of them.. Obviously..
The FREE MONEY Covid lockdown supply chain fantasy is over.. Shame on everybody involved for pretending otherwise.. IMO all we do these days is pretend otherwise..
Soon the only EV related industries left will be the Indigenous ones.
Soon every industry in Canada will be indigenous.
In a related story … the State of CA CALPRS and CALSTRS public worker pension systems are HEAVY investors in the ESG approved Fisker e-car company. Goodbye pensions funds. Hello major bonuses for the Pension plan Directors.