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☆ Fisker warns staff they could get laid off in 2 months
▼ + stars: | 2024-04-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Fisker warned staff of potential layoffs in two months, according to 3 employees and an email viewed by BI. Fisker announced a 15% staff cut earlier this year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFisker sent staff a notice on Monday telling them they could be laid off from the company in two months, according to 3 employees and an email viewed by Business Insider. AdvertisementThe three current employees told BI that everyone they had spoken to at Fisker said they had received the notice.

Persons: Fisker, —, Henrik Fisker Organizations: BI, Service, Business, Worker Locations: Manhattan Beach , California, La Palma , California, Munich, Vienna

☆ It's already hard to get your Fisker fixed. Bankruptcy could make it impossible.
▼ + stars: | 2024-04-27 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +6 min

AdvertisementBusiness Insider spoke with seven Fisker Ocean owners who shared their anxieties about what will happen to their cars if Fisker is no more. AdvertisementSome Fisker owners said they are already struggling to get service and parts. Three Fisker ocean owners described instances where the vehicle was bricked for days after their 12-volt battery died. What Fisker's failure would mean for its competitorsIf Fisker files for bankruptcy, there are likely to be ripple effects for other EV startups, Fiorani said. "If Fiskers start falling off the side of the road in the next few months because there's no one to update them, that's going to put fear into a lot of electric vehicle owners — not just Fisker owners," Fiorani said.

Persons: —, Henrik Fisker teeters, Sam Fiorani, Kurt Mechling, Mechling, Fisker, Chris Salvo, Salvo, Henrik Fisker, Mario Anzuoni, Fiorani, Patrick Burrell, Tesla Organizations: Service, Business, AutoForecast Solutions, BI, Reuters, EV Locations: California

☆ Fisker tells employees that 4 automakers are in talks to buy the struggling startup
▼ + stars: | 2024-04-25 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Fisker is in talks with four automakers for possible acquisition, according to CEO Henrik Fisker. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFisker CEO Henrik Fisker told staff during an all-hands meeting on Thursday that the company was in talks with four automakers for a potential buyout, according to a recording of the event viewed by Business Insider. "We still have some time to get other offers on Fisker," he told staff on Thursday. This story is available exclusively to Business Insider subscribers.

Persons: Fisker, Henrik Fisker, — Organizations: Service, Business Locations: Fisker

☆ Fisker Ocean reservation cancellations top 40,000 as the EV company tries to fight off bankruptcy, leaked data shows
▼ + stars: | 2024-03-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

More than 40,000 out of well over 70,000 reservations for the Fisker Ocean have been canceled to date, according to internal company metrics viewed by Business Insider. The reservation cancellations pose an issue for the company, representing potential sales slipping away during a time when the company desperately needs to generate more revenue. The company said a reservation "will hold your approximate spot in our order queue to purchase your Fisker EV." Related storiesThe company also has a few thousand order cancellations, according to the data viewed by BI, which are different than reservations and not fully refundable. The Fisker CEO and Danish car designer's previous startup, Fisker Automotive, filed for bankruptcy protection in 2013.

Persons: —, Fisker, Henrik Fisker's Organizations: Service, Business, BI, Fisker Automotive

☆ You can buy this electric luxury SUV for $25,000 right now. But there might be a catch
▼ + stars: | 2024-03-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —For sale: A brand new luxury electric SUV for the holy-grail price of $25,000. The California-based electric SUV company Fisker faces a real possibility of bankruptcy, and its stock is hovering just over 2 cents a share, far below its 2021 peak of $28.50. Prices for Fisker’s Ocean SUV have been cut by as much 39%. His video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. Fisker has said that problems with early versions of the vehicles’ software caused some of the negative responses.

Persons: hasn’t, Marques Brownlee, ”, Fisker, Henrik Fisker Organizations: CNN, American YouTube, Consumer, Magna Steyr, Magna Locations: California, American, Danish, United States, Europe, Austria

☆ Fisker shares halted as EV company navigates uncertain future
▼ + stars: | 2024-03-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Shares of Fisker, a California-based electric vehicle startup, were halted Monday. Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr. Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers. The video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established.

Persons: Fisker’s, Fisker, Henrik Fisker, Marques Brownlee, ” Organizations: CNN, Reuters, Nissan, Magna Steyr, Mercedes, BMW, EV, American YouTube, Consumer, Automotive News, Hyundai, Kia, Ford, General Motors Locations: California, Alaska, Austria, Ohio, American

☆ EV maker Fisker’s stock dives after company reportedly explores bankruptcy
▼ + stars: | 2024-03-13 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Electric vehicle company Fisker’s stock plunged more than 40% in after-hours trading on Wednesday as investor concern about the company’s ability to stay in business intensified. The Ocean is built in Austria by Magna, a company that has also built vehicles for Mercedes-Benz, BMW and Jaguar. Brownlee’s video has racked up more than 4.5 million views so far and sent the stock plunging after its release. Fisker’s stock was trading at 32 cents a share at the close of trading Wednesday, a more than 80% decline since the start of 2024. Fisker is founder Henrik Fisker’s second car company.

Persons: Fisker, Marques Brownlee, madeh, ”, Henrik Fisker’s, Hurricane Sandy Organizations: CNN —, Wall Street, Magna, Mercedes, Benz, BMW, YouTube, Fisker Automotive, Hurricane Locations: Austria, American

☆ EV maker Fisker says it may go out of business
▼ + stars: | 2024-03-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —Fisker, the electric vehicle company founded by auto designer Henrik Fisker, announced in its fourth quarter earnings Thursday that it might not have enough money to survive another year. The company is in discussions with an existing investor about possibly putting more money into the company, the EV maker said in its announcement. Last year, Magna produced more than 10,193 Fisker SUVs, but fewer than half of those were delivered to customers within the calendar year, the company announced. Fisker is founder Henrik Fisker’s second car company. His first, Fisker Automotive, produced a plug-in hybrid luxury car called the Fisker Karma.

Persons: New York CNN — Fisker, Henrik Fisker, Fisker, Henrik, Henrik Fisker’s Organizations: New, New York CNN, Magna, Mercedes, Benz, BMW, Fisker Automotive Locations: New York, Austria, Europe, Hurricane

☆ Fisker delivers over 100 cars in a day with new distribution strategy
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Henrik Fisker, CEO of electric-vehicle maker Fisker Inc. introduces the Ronin electric sports car in Huntington Beach, California, August 3, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Fisker Inc FollowNov 17 (Reuters) - Fisker (FSR.N) said on Friday that its new distribution strategy would help improve delivery speed and volume, which the electric vehicle company noted was a bottleneck that curbed production. The EV maker delivered 107 vehicles on Thursday, crossing the 100 mark for the first time after executing a new strategy that brought in revenue of $7.5 million in one day. Fisker said it has added several logistics partners to transport Ocean SUVs to delivery locations so that they can be handed over to customers quickly. An employee can drive a customer's car to them if they live within 60 miles of a Fisker fulfillment location, eliminating the use of vehicle transport, the company said.

Persons: Henrik Fisker, Mike Blake, Fisker, Akash Sriram, Maju Samuel Organizations: Fisker Inc, REUTERS, Thomson Locations: Huntington Beach , California, Bengaluru

The logo of Fisker Automotive is pictured on a car at the 2022 Paris Auto Show in Paris, France, October 18, 2022. But Fisker was limited by its delivery and service infrastructure rather than production and demand. "We have not been able to follow through with deliveries fast enough," CEO Henrik Fisker said on the call. "In the course of completing the preparation of the report, the company determined that it has material weaknesses in the company's internal control over financial reporting," Fisker said. The EV company reported a loss of $91 million, missing analysts' estimates for a loss of $75 million, according to Visible Alpha.

Persons: Stephane Mahe, Fisker, Geeta Fisker, Tesla, Elon, Henrik Fisker, Samrhitha Arunasalam, Jaiveer Singh Shekhawat, Akash Sriram, Abhirup Roy, Shounak Dasgupta, Stephen Coates Organizations: Fisker, REUTERS, Ford, General Motors, EV, Alpha, stoke, Revenue, Thomson Locations: Paris, France, U.S, Canada, Austrian, Bengaluru, San Francisco

☆ Fisker reports wider-than-expected losses, underwhelming deliveries for the third quarter
▼ + stars: | 2023-11-13 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Fisker began deliveries of its battery-electric Ocean SUV in the second quarter of 2023. But, it said, deliveries have accelerated since quarter-end, with over 1,200 Oceans delivered in October and "hundreds" more en route to customers now. The company said it and its manufacturing partner, Magna International , built 4,725 Oceans in the third quarter and delivered 1,097 to customers. Fisker produced 1,022 Oceans in the second quarter of 2023. "We are gaining momentum and delivered more units in the month of October than in all of the third quarter."

Persons: Fisker, Henrik Fisker Organizations: Electric, Magna International

☆ Fisker in talks with five carmakers for production capacity partnership
▼ + stars: | 2023-11-09 | by ( Christina Amann | ) www.reuters.com time to read: +1 min

BERLIN, Nov 9 (Reuters) - U.S. electric vehicle startup Fisker (FSR.N) is negotiating with five carmakers over a partnership to secure additional production capacity for its vehicles, its Chief Executive Henrik Fisker said on Thursday. We can bring them to market fast - we just need the capacity," Fisker said, speaking to Reuters in Berlin. The CEO told Reuters in May he was exploring partnerships with everyone from suppliers to tech companies to scale up production. The SUV, called PEAR, will be built with Foxconn in Ohio, but further capacity is needed for both models. Still, it cut its annual production target in August and adjusted pricing in October as it grappled with a slowdown in electric-vehicle demand.

Persons: Henrik Fisker, Fisker, Christina Amann, Victoria Waldersee, David Evans Organizations: Reuters, Magna International Inc, Thomson Locations: Berlin, California, Austria, Foxconn, Ohio

☆ Fisker adjusts prices as EV market sees signs of demand slowdown
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 23 (Reuters) - Fisker (FSR.N) cut prices of its high-end Ocean Extreme SUV on Monday, while raising prices on two lower-priced variants, as the firm grapples with a slowdown in electric-vehicle demand and a price war started by dominant player Tesla (TSLA.O). The Ocean Extreme will now be about 11% cheaper in the U.S. at $61,499, while its Canada price has been reduced by approximately the same percentage to C$79,799 ($58,166.78). The starting price of the Tesla Model Y in the United States is $48,490. "It is essential Fisker responds to competitive realities in the rapidly growing EV market," CEO Henrik Fisker said. EV startups have borne the brunt of a price war started by Tesla to solidify its foothold in the competitive market in the face of rising borrowing costs and sticky inflation.

Persons: Brendan McDermid, Tesla, Henrik Fisker, Fisker, Arsheeya, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Tesla, EV, Air, Thomson Locations: New York City, U.S, Canada, United States, Bengaluru

NEW YORK, Sept 26 (Reuters) - Shares of electric-vehicle startup Fisker Inc (FSR.N) rose by more than 20% on Tuesday after the company reaffirmed its plan to increase deliveries of its flagship Ocean sports utility vehicle, and a bullish Wall Street analyst report. The EV maker said it had built 5,000 Ocean SUVs and expects to ramp up deliveries to 300 units per day later this year, reiterating a plan announced earlier this month by Chief Executive Henrik Fisker. Fisker's shares rose as high as $6.47, and were on course for their biggest daily percentage gain since April. "The automotive industry is undergoing a once-in-a-century revolution with technology advancement on electrification, autonomy, and digitization," the analysts said. Unlike other EV makers, Fisker has outsourced its vehicle production to Canadian auto part supplier Magna International (MG.TO).

Persons: Henrik Fisker, John Babcock, Fisker, Chibuike Oguh, Lance Tupper, Deepa Babington 私たち Organizations: Ocean, Bank of America, Magna International Locations: California, U.S, Europe, New York

☆ Fisker expects to ramp up Ocean EV production in fourth quarter
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Fisker CEO Henrik Fisker unveils the Fisker Ocean during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. REUTERS/Mike Blake Acquire Licensing RightsSept 7 (Reuters) - Electric-vehicle startup Fisker (FSR.N) said on Thursday it expects to increase the production of its Ocean sports utility vehicle to about 300 units a day in the fourth quarter from around 180 units. Vehicle deliveries are expected to accelerate in North America in September, CEO Henrik Fisker said. Last month, Fisker cut its annual production target due to supply chain issues. That overshadowed a smaller-than-expected quarterly loss and its first revenue from deliveries of electric sport utility vehicles.

Persons: Henrik Fisker, Mike Blake, Zaheer Kachwala, Arun Koyyur Organizations: REUTERS, Magna International, Magna, Thomson Locations: Los Angeles , California, U.S, North America, Fisker, Bengaluru

The company now expects to produce between 20,000 and 23,000 vehicles in 2023, down from 32,000 to 36,000 units projected in May. Fisker also raised its annual expenses projection to between $565 million and $640 million from $535 million to $610 million on higher selling, general and administrative costs. Electric-vehicle startups have faced supply chain issues in the past year as industry suppliers prioritize larger EV makers with proven production capacity and demand. Shares of Nikola (NKLA.O) also sank 13% on Friday after it named its fourth CEO in as many years in a bid to navigate a host of challenges including depleting cash reserves, supply chain constraints and a pivot to hydrogen fuel cell technology. Analysts expect the company to record an operating profit in the fourth quarter, according to Refinitiv data.

Persons: Henrik Fisker, Fisker, Raymond James, Akash Sriram, Sriraj Kalluvila, Anil D'Silva, Nick Zieminski Organizations: Fisker, Reuters, Nikola, Magna International, Revenue, Thomson Locations: California, Europe, United States, Austrian, Alaska, U.S, Bengaluru

HUNTINGTON BEACH, California, Aug 3 (Reuters) - Electric vehicle (EV) maker Fisker Inc (FSR.N) unveiled a pickup truck on Thursday, weeks after starting deliveries of its flagship sport utility vehicle (SUV) and as it tackles persistent supply chain issues. Fisker aims to make a mark in the crowded EV market with lower-priced vehicles that still have high-design sensibility. Fisker said Alaska, reservations for which opened on Thursday, would be built on the same platform as its Ocean SUV. Fisker, which uses contract manufacturing for its vehicles, aims to keep cost of production as well as vehicle prices low. While the Ocean SUV starts at $37,499, its smaller Pear SUV, which was also unveiled on Thursday, is priced at $29,990.

Persons: Henrik Fisker, Fisker, Tesla, We're, Lisa Baertlein, Abhirup Roy, Christopher Cushing Organizations: Fisker Inc, Reuters, Ford, Thomson Locations: HUNTINGTON BEACH , California, Alaska, Huntington Beach , California, Huntington Beach, San Francisco

☆ Fisker CEO Henrik Fisker on Q2 earnings, supply chain issues, new EV ambitions
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFisker CEO Henrik Fisker on Q2 earnings, supply chain issues, new EV ambitionsCNBC’s Phil LeBeau and Fisker CEO Henrik Fisker join 'Squawk Box' to discuss the company's quarterly earnings results, new EV ambitions, and more.

Persons: Henrik Fisker, CNBC’s Phil LeBeau

☆ Fisker's new electric pickup is one of the coolest Cybertruck and F-150 Lightning rivals yet
▼ + stars: | 2023-08-04 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

US EV startup Fisker unveiled an electric pickup to take on the Tesla Cybertruck and Rivian R1T. The Fisker Alaska electric pickup truck. The Fisker Alaska electric pickup truck. The Fisker Alaska electric pickup truck. The Fisker Alaska electric pickup truck.

Persons: Fisker, Henrik Fisker, Fisker Fisker, There's, R1T, Ford Organizations: Tesla, Ford, GM, GMC Hummer EV, Toyota, Silverado EV, GMC Sierra EV Locations: Alaska, California, Toyota Tacoma

☆ Fisker CEO on U.S. deliveries and future production
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFisker CEO on U.S. deliveries and future productionCNBC's Phil LeBeau joins 'Power Lunch' to report on Ford's plan to cut more jobs and his discussion with Fisker CEO Henrik Fisker.

Persons: Phil LeBeau, Henrik Fisker

☆ EV startups conserve cash as make-or-break moment approaches. Here's where everyone stands
▼ + stars: | 2023-05-24 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +14 min

As legacy automakers increasingly ramp production of all-electric vehicles, cushioned by the profits of gas-powered models, a handful of EV startups are scrambling to conserve cash and stay in the mix. It also means the amount of cash Fisker had left as of the end of March, $652.5 million, isn't yet cause for alarm. Still, Fisker cut its production guidance for 2023 to between 32,000 vehicles and 36,000 vehicles, from 42,400 in its original plan. Or as Evercore ISI analyst Doug Dutton wrote before Fisker's earnings report, "Fisker is beginning to turn into a story of binary and 'show me' outcomes." It had $108.1 million remaining as of the end of March, but it lost $171.1 million in the first quarter .

Persons: Tesla, Rivian, Claire McDonough, Rivian's, It's, McDonough, Deutsche Bank's Emmanuel Rosner, Rosner, Sherry House, Peter Rawlinson, Bank of America's John Murphy, Murphy, Aston Martin, Henrik Fisker, Fisker, Doug Dutton, Dutton, Nikola Nikola, Trevor Milton, Nikola, Voltera, TD Cowen, Jeffrey Osborne, Osborne, Polestar Polestar, it's, Johan Malmqvist isn't, aren't, Deutsche Bank's Rosner, Lordstown, Foxconn, Foxconn doesn't Organizations: EV, Amazon, Deutsche, Lucid's, Bank of America's, BMW, Global, Magna International, Nikola, Iveco, Volvo Cars, Geely, Lordstown, Nasdaq, General Motors Locations: Georgia, Magna, Austria, U.S, Europe, North America, Nikola's, Swedish, China, Ohio, Lordstown

MUNICH, May 17 (Reuters) - Electric car maker Fisker Inc (FSR.N) is exploring collaboration with other companies to scale up market share faster, Chief Executive Henrik Fisker said on Wednesday. If we collaborate with someone, you can scale quicker ... it could be with suppliers, other car companies, tech companies - we are exploring all these avenues," Fisker said, speaking at the Reuters Automotive Conference in Munich. The PEAR will have 25% fewer parts than a comparable car today, Fisker said. Instead, Fisker will build vehicles from steel, combining multiple parts into one using single stampings, he said. Fisker said eventually the company plans to have production capacity in Europe, China, the United States and India.

☆ Fisker cuts production guidance for Ocean EV after last-minute snags
▼ + stars: | 2023-05-09 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Electric vehicle startup Fisker on Tuesday reported a wider first-quarter loss than expected and cut its production guidance for the full year, both of which it blamed on last minute snags as it begins production of its Ocean SUV. 38 cents, versus a loss of 30 cents expected. A year ago, Fisker reported a net loss of $122.1 million, or 41 cents a share, with no revenue. Fisker had $652.5 million in cash remaining as of March 31, down from $736.5 million at the end of 2022. "We are ready to go full speed on production next week," Henrik Fisker told CNBC's Phil LeBeau on Tuesday.

☆ Fisker CEO on Q1 earnings results
▼ + stars: | 2023-05-09 | by ( Phil Lebeau | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFisker CEO on Q1 earnings resultsCNBC’s Phil LeBeau and Fisker CEO Henrik Fisker join 'Squawk Box' to discuss the company's quarterly earnings results, production outlook, and more.

☆ The $25,000 electric vehicle is coming, with big implications for the auto market and car buyers
▼ + stars: | 2023-04-16 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

And as the Biden administration pushes changes that seek to aggressively remake the car market in favor of EVs more quickly than previously anticipated. Tesla's lowest-priced model today is the Model 3 base MSRP of $41,990. There are also more financing options available in the auto loan market designed specifically for environmentally friendly cars. "There's nothing wrong with having a basic car as a first car. Tesla said its overall efforts have driven the cost of drive units, which include the car's electric motor, as low as $1,000.

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