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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
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
Israel is currently preparing for a ground invasion in Gaza. AdvertisementAdvertisementIsrael is mobilizing for a ground operation in Gaza following Hamas' deadly terror attacks last weekend that claimed more than 1,300 lives, many of them civilians. The Israel Defense Forces have not sent ground troops into Gaza since 2014, but since 2005, they have trained in urban warfare at a facility soldiers call "Mini Gaza." AdvertisementAdvertisementHere are some of the weapons and military gear Israeli forces will likely use — and what Hamas might use in response. Israel's new Eitan APC is a multi-purpose, 8x8 wheeled combat vehicle intended to replace the older M113 APCs that the IDF has used previously, according to Army Technology.
Persons: Israel, , Insider's Jake Epstein, Israel's, Eitan, Lockheed Martin, Al Organizations: Service, Israel, Israel Defense Forces, Hamas, Israel Defense Forces Israel, Army Technology, Forbes, IDF, Nahal Brigade, Breaking Defense, Lockheed, AIM, US Patriot, Reuters, Experts, CNN, AK, AP, Air Force Museum, Israel's, Austrian Steyr HS Locations: Gaza, Israel, Russia, China, Palestinian, of Israel, Al Jazeera, Germany, Iran, Soviet, Asia, Austrian
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.
BERLIN, Feb 24 (Reuters) - Volkswagen Group (VOWG_p.DE) will build its own production plant in the United States for its new Scout brand rather than collaborating with a partner, industry publication Automobilwoche reported on Friday, citing company sources. Volkswagen said last May it planned to reintroduce the Scout off-road brand, creating a separate, independent company to build Scout trucks and SUVs starting in 2026 that will be designed, engineered, and manufactured in the United States for U.S. customers. Building its own plant was the least likely option, the publication reported at the time, also citing company sources. Volkswagen is expanding its existing U.S. plant in Chattanooga, Tennessee, to produce the ID. However, the Scout brand will build off-road electric pick-up trucks and SUVs that require a new platform and the Chattanooga plant does not have enough space to do it all, a source told Reuters last May.
Tesla's move will "strengthen their ... competitive advantage over other automakers," CFRA Research analyst Garrett Nelson said. 'GAME OF THRONES' FOR EV STARTUPSBoth Rivian and Lucid have yet to turn a profit. Reuters GraphicsStill, Rivian had $13.8 billion in cash at the end of the third quarter - the most among the U.S. EV startups. "It's a 'Game of Thrones' battle for EV startups and they face some dire options over the next 12 to 18 months if they do not succeed in their financial targets," said Wedbush Securities analyst Daniel Ives. Rivian sells its R1T pickup truck at a starting price of $73,000 while its R1S SUV starts at $78,000.
Dec 1 (Reuters) - Short-seller Fuzzy Panda Research said on Thursday that Fisker Inc's (FSR.N) access to its funds is limited by bank guarantees that set a mininum cash balance, sending the electric-vehicle maker's shares down 5%. In a report disclosing an unspecified short position, Fuzzy Panda Research said nearly all of the $825 million Fisker has in cash "is tied up" in guarantees to its manufacturing partner Magna Steyr, the Austrian unit of Magna International Inc (MG.TO). The guarantees include Fisker paying for Magna's tooling costs as well as manufacturing margins and direct manufacturing costs, the short seller said, citing interviews with former employees. The EV maker is the latest target of Fuzzy Panda Research, which has previously issued reports on EVgo Inc (EVGO.O), Workhorse Group Inc (WKHS.O) and now bankrupt Electric Last Mile Solutions. The short-seller also said that Fisker has been selling shares to raise cash and pay expenses instead of funding operating losses using its cash balance.
Electric vehicle stocks have had a tough year, but don't count them out just yet, according to Evercore ISI. Analyst Chris McNally said the past year has been a much-needed expectation reset for nascent EV players, such as Fisker , Rivian Automotive , and Lucid Group . Each has separate, premium "go-to-market" niches within the growing EV market, he said. "Then we would begin to see vertical integration & branding advantages take charge," McNally wrote. Lucid Lucid epitomizes an aspirational EV, McNally said.
Lordstown Motors sold the factory to Foxconn earlier this year while Foxconn, in turn, agreed to build Lordstown’s electric pickup, the Endurance, there. Another California-based startup, Indi EV, has also agreed to have Foxconn build its car, the Indi One, there. Aside from road-going automobiles, Foxconn has also agreed to build an electric farm tractor, the Monarch MK-V, at the factory. Luxgen’s parent company, Yulon Group, and Foxconn created a joint venture called Foxtron in 2021 to develop and manufacture electric vehicles. Various Foxconn companies are part of an large industry group called the MIH, or Mobility in Harmony, consortium, which is jointly developing the basic electric vehicle engineering platform that underlies Foxconn’s electric vehicles.
Sony unveiled future electric models at CES 2020 and 2022. At 192.7 inches, the Vision S-01 electric sedan is around 7.9 inches longer than a comparable Tesla Model 3. At CES 2022, Sony made it clear that the group is serious about its car plans. Sony relies mainly on European know-howOn the technical side, however, Sony has brought even more partner companies on board for its project. Bosch, as well as French supplier Valeo SE, and Hungarian startup Almotive, which specializes in autonomous driving, were also involved in the development of the electric vehicles.
Trei profesori din Austria care au refuzat să poarte măşti de protecţie împotriva COVID-19 au fost demişi, a informat sâmbătă ziarul Kronen Zeitung, relatează Reuters.În Elveţia, un client care a refuzat să poarte mască nu va mai avea voie să intre cinci ani în lanţul de supermarketuri Migros, scrie agerpres.ro Trei profesori din districtele Freistadt, Voecklabruck şi oraşul Wels din Austria Superioară au fost demişi după ce discuţiile cu autorităţile nu au reuşit să rezolve situaţia, a precizat ziarul. "Au existat multe eforturi pentru a-l convinge să se conformeze măsurilor de prevenţie, însă toate au fost în zadar", a declarat Ministerul Educaţiei despre profesorul din Freistadt.Alţi trei profesori din Freistadt, Braunau şi Steyr au fost convinşi să poarte măşti şi şi-au păstrat slujbele, a mai spus ziarul.Începând cu 25 ianuarie, Austria şi-a înăsprit regulile pentru a cere purtarea măştilor de tip FFP2, care filtrează particulele, acolo unde anterior puteau fi utilizate măşti de bumbac.În Elveţia, unde purtarea măştii este obligatorie în interior, un autoproclamat "rebel al coronavirusului" a încercat să intre într-un supermarket din Lucerna fără a purta mască. El a refuzat în mod repetat să poarte o mască şi a fost în cele din urmă arestat de poliţie. Bărbatului i s-a interzis de asemenea accesul în magazinele SportXX şi Micasa.
Organizations: Zeitung Locations: Austria, Freistadt, Wels, Austria Superioară, Braunau, Steyr, Lucerna
O uniune vamală, pe care guvernul a exclus-o, ar elimina o parte din fricţiunile din viitoarele relaţii comerciale. Costul asamblării unui automobil în Marea Britanie ar putea creşte cu 2.372 de lire sterline (3.337 dolari), potrivit unui scenariu în care ar fi impuse taxe vamale de 10%, potrivit estimărilor firmei PA Consulting din Londra. Cel mai probabil este ca Honda Motor şi Toyota Motor să închidă fabrici, pentru că cei doi producători japonezi exportă cea mai mare parte a automobilelor fabricate în Marea Britanie. Companiile străine nu vor rămâne ”dacă operaţiunile din Marea Britanie nu vor fi profitabile”, a declarat la începutul acestei luni ambasadoul Japoniei în Marea Britanie, Koji Tsuruoka. Chiar lângă fabrica Haguar din Halewood, un bărbat a declarat că a votat pentru Brexit pentru că muncitorii care au migrat din alte state europene au dus la scăderea salariilor.
Persons: Brexit Organizations: BMW, Consulting, Honda Motor, Toyota Locations: Oxford, Franţa, Hams Hall, Birmingham, Steyr, Austria, Europa, Londra, Japoniei, Halewood
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