According to a newspaper, the struggling electric car start-up Fisker is preparing for possible bankruptcy. The consulting firm FTI Consulting and the law firm Davis Polk have been hired to assist with a possible application, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Fisker declined to comment.
The Reuters news agency recently learned from insiders that the company was in advanced discussions with the Japanese vehicle manufacturer Nissan as a possible financier. Fisker itself announced that it would put investments in new projects on hold until a partnership with a car manufacturer had been agreed. We are facing a “difficult year” and 15 percent of jobs will be cut.
A bitter blow for Steyr
This would be a bitter blow for the Styrian manufacturer Magna Steyr: Production in Graz was recently reduced to the minimum level, and several scenarios were worked out as to how things could continue. The original plan that Fisker production at Magna in Graz would start up again in May is reportedly no longer valid. For Magna, this does not currently or immediately mean any changes to employee planning. If production does start up again, you can react immediately with time models (time credits, etc.).