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Fiskersays it ’s planning more layoffs less than two months aftercutting 15 % of its hands , as the EV startup scrambles to raise hard currency to bide alive . Fisker expects to seek bankruptcy protective covering within the next 30 days if it ca n’t come up with that money , according to a U.S. Securities and Exchange Commission regulatory filing .
The imperiled society say in theregulatory filingTuesday it had just $ 54 million in Johnny Cash and equivalents as of April 16 , and another $ 11.2 million that ca n’t be immediately access . Fisker said in the filing that it ’s currently trying to raise money to yield off a loanword that it default on for forfend failure . The outstanding balance as of mid - January wasnorth of $ 300 million .
Fisker still employed 1,135 people globally as of April 19 , concord to the filing . That ’s down from 1,560 at the goal of 2022 , and around 1,300 at the remnant of September 2023 . The company also said Tuesday that it will be “ tighten its physical footmark . ”
This keep up Fisker’sannouncementMonday evening that a second member of its control panel of music director has leave the caller , with the first come at the end of March . The company has also lease a chief restructuring officer who is now solely in charge of approving Fisker ’s budget , as well as the decision - give outgrowth for any sales event of Fisker ’s business .
Fisker finds itself on the threshold of bankruptcy follow a troubled launching of its first electric vehicle , the Fisker Ocean SUV , that kicked off in June 2023 .
The Ocean has been hampered by numerous trouble , including around the bend software , reports of sudden power red and pasture brake failure , and insufficient client service , asTechCrunch reported in February . Fisker struggled tomeet national gross revenue goalsand lost track of millions of dollar of client requital for some of the vehicles it did betray , triggeringan internal auditthat helped recover a majority of that money . It has spent the last few months assay to swivel to a franchise model .
The Ocean is now capable tothreeseparatefederal investigationsfrom the National Highway Traffic Safety Administration . The company has not cut any recalls , but haspaused productionof the SUV . In the meantime , it slashed prices on its existing armory by as much as 39 % in an endeavor to sire inadequate - term Johnny Cash . The companionship has also been delisted from the New York Stock Exchange .
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If Fisker ultimately seeks failure protection , it would be founder Henrik Fisker ’s second automotive inauguration to do so . His premature exertion , Fisker Automotive , filed for Chapter 11 failure protectionin 2013 .
