Bad news for Magna in Graz: Fisker, the floundering electric car start-up, has failed in its search for a partner. Fisker had already stopped production of its ‘Ocean’ in Graz in March. At Magna, a low number of four-figure jobs are at risk.
American electric car startup Fisker has failed in its search for a partner. The company announced on Monday that negotiations with a car manufacturer (reportedly Nissan) had been broken off. Strategic options are now being explored, including judicial or extrajudicial restructuring or capital market transactions. Hedge fund manager Thomas Hayes said this would make it more likely that Fisker would seek protection from creditors.
Shares have lost 90 percent of their value
Fisker shares have lost 90 percent of their value since the beginning of the year. In mid-March, the company stopped production of its Ocean model, which is manufactured in Maga in Graz, until a partner was found. Fisker has been in financial trouble for some time and is preparing for possible bankruptcy, according to a report.
At Magna, it is rumored that a low number of four-figure jobs would be at risk due to the complete loss of Fisker production.
Source: Krone
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