The American electric car company warns that it is running out of money

Fisker last week released its fourth-quarter 2023 financial report, saying it may not have enough money to survive another year.

Fisker - an electric car company founded by famous Danish car designer Henrik Fisker in 2007. After 17 years of operation, the company's existence is a big question mark, due to prolonged financial difficulties.

In the last quarter of last year, the company lost 463.6 million USD and recorded only 200 million USD in revenue.

To have money to operate for another 12 months, Fisker is discussing with investors the possibility of injecting more capital. They will lay off 15% of employees to save costs. This company's shares are currently around 0.41 USD per unit.

CEO Henrik Fisker introduced the 2021 Ocean car in California (USA). Photo: Reuters

Fisker has not yet filed its 2023 financial report, as it needs more time to complete. They said they will announce it in the middle of this month.

Henrik Fisker's electric car company has a different business model than many car manufacturers, because it outsources all production. Its Ocean electric SUV is made in Austria, by a company called Magna. The company also produces vehicles for Mercedes-Benz, BMW and Jaguar.

Last year, Magna produced more than 10,193 SUVs for Fisker, but only half of them were delivered to customers. Fisker forecasts 20,000 deliveries this year.

"2023 is a challenging year for the company, when supply delays and many other issues prevent us from delivering Ocean vehicles as quickly as expected," said CEO and founder Henrik Fisker.

Initially, the company sold cars directly to customers, not through dealers. However, from this year, they changed their strategy and started signing contracts with intermediaries. Currently, the company has 12 agents in the US and Europe.

CEO and founder Henrik Fisker was responsible for designing many famous sports cars, such as the Aston Martin DB9, V8 Vantage, Artega GT and BMW Z8. Previously, he was also the Design Director of Aston Martin.