Fisker CEO talks automaker’s pivot to dealer model and layoffs
Shares of Fisker (FSR) are trading higher after a rough Friday morning. The company warned it would cut 15% of its workforce and miss its production target by 13,000 vehicles, amounting to losses of 37%. Part of Fisker's afternoon jump is thanks to a Reuters report, which detailed Nissan's (NSANY) possible investment of $400 million in the automaker's truck platform.
Fisker CEO Henrik Fisker joins Yahoo Finance to discuss the company's performance, including its layoffs and pivot toward a dealer model.
While Fisker could not comment on the reported deal with Nissan, though he did respond to questions regarding the automaker's talks with original equipment manufacturers (OEMs): "We started talking to several OEMs, I think over 6 months ago, so we obviously have done a lot of work already. So I hope a deal closes as soon as possible."
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Пікірлер: 156
Crazy how only one guy completely took down fisker 😂😂😂
@HansM-bg8lm
4 ай бұрын
Does that make you happy??
@Mrmudbone_gaming
4 ай бұрын
@@HansM-bg8lm don’t make me sad! I’ll tell you that! Hahahahahahahahaha 😂 😂
@SunnyHF-nf4bc
3 ай бұрын
@@Mrmudbone_gaming 1) “One guy” didn’t take down Fisker. Fisker’s incompetence sank the company. 2) You’re celebrating hundreds of people losing their jobs?
@jsilva7005
3 ай бұрын
@@SunnyHF-nf4bcThe following information comes directly from former and current Fiskee employees. “It actually is completely his and his wife’s fault. It is a public company but they own a majority share, so they have run the company like their own personal landscaping business. The wife is the CFO and COO but is completely out of her depth. On top of that they have hired multiple family members to high level director rolls within the company. There are at least 4 family members, but it’s hard to know how many more there are because they don’t all have the same last name. These family members are completely incompetent and are not qualified to be in these rolls. The wife is the CFO, but she should not be allowed anywhere near the companies finances. Her and her family members regularly berate employees. They blame employees for the errors they themselves caused. The non-family directors they have hired are completely ignored and their ideas are not even considered. The Fisker’s are a poison. They have destroyed the company from the inside with their nepotism and narcissism.” So this guy completely deserves the blame, along with his wife.
@Necropheliac
3 ай бұрын
Selling the car before it was ready for market is what killed it. MKBHD just lit the match.
The interviewer was too good. She has asked very valid and concerning questions to Henrik.
Much more humbled Fisker in this interview, but still can feel the jaw chlinching when hearing the facts when it comes to the companies current state.
@rataplan2997
4 ай бұрын
It's called extreme stress
@SingaporeFriedrice
4 ай бұрын
He's getting betters at his interview. He's under more pressure than ever now as well. :) I think it's a bit embarassing.
@jsilva7005
3 ай бұрын
@@SingaporeFriedriceThe following information comes directly from former and current Fiskee employees. “It actually is completely his and his wife’s fault. It is a public company but they own a majority share, so they have run the company like their own personal landscaping business. The wife is the CFO and COO but is completely out of her depth. On top of that they have hired multiple family members to high level director rolls within the company. There are at least 4 family members, but it’s hard to know how many more there are because they don’t all have the same last name. These family members are completely incompetent and are not qualified to be in these rolls. The wife is the CFO, but she should not be allowed anywhere near the companies finances. Her and her family members regularly berate employees. They blame employees for the errors they themselves caused. The non-family directors they have hired are completely ignored and their ideas are not even considered. The Fisker’s are a poison. They have destroyed the company from the inside with their nepotism and narcissism.” So this guy completely deserves the blame, along with his wife.
@stocktradesniper
Ай бұрын
😂
Great news for FRS
This is exactly what someone who is confident looks like ;-)
MKHBD destroyed this guy's life lol
@uberenthusiasts
4 ай бұрын
No him and his wife's incompetence did.
@JCJW101
2 ай бұрын
@@uberenthusiasts Yep it was a joke, it clearly wasn't MKBHD
In my opinion, the only way for the EV's to shine and have people overlook the charging issues is to bring passion and soul into them.
@markplott4820
4 ай бұрын
FISKER , does not even make the OCEAN.
Where is the dealer list that he talked about? Happy to get an update
@acellar8299
3 ай бұрын
H.F. is a car designer and talker. That's about it. Can't run a publicly traded company family style. I'm stuck with my 2 week old, bug-filled "full-price" Ocean 1
He said everything they sell is cash generating but today they took out a 150mill$ loan.
Great driving car! Looking forward to a positive outcome.
@chang-kp9sp
4 ай бұрын
Positive outlook? The future is so grim. I don't think Fisker will survive another year.
@Greatdane-qf8kd
4 ай бұрын
Going to be looking for that for a very long time.. Ain't going to happen
@jamesc5751
2 ай бұрын
Lol see you again in 2040 when Fisker makes another failcar.
@mateuszkolacki1704
Ай бұрын
That aged well, they fired for bankruptcy
Bruh crazy how he talks positive about it a month ago but now that the stock is delisted.
FSR .. Fisker. Over 300 % increase in Ocean SUV EV deliveries expected in 2024 from 4,900 to 22,000. Revenue rose nearly 180 % in 4 th qt over 3rd qt...$ 201 million to $ 71 million. No Buyout, No acquisition.. No Takeover...a manuf partnership for the Alaska Pick-up. Thumbs Up video/ comment. Thanks.
@rareview362
3 ай бұрын
And sp 2 pennies.
He should start a car rental company with his cars I think that’ll work out better than trying to sell in this economy
@mike-me7om
4 ай бұрын
Nobody will want to invest in this guy again
Well done Henrik. Great interview. You have done the most difficult part: Designing the best car in the world now comes the easier part delivering it to customers.
@Bren39
4 ай бұрын
You know what Elon said. Designing is easy. Production is hell. And being profitable is.. You get the point. Fisker had failed step 2.
@martinmcnulty8155
4 ай бұрын
@@Bren39OK let me ask you this: Were Tesla making a profit in March 2013 (8 months after the start of the Tesla S production)? I think you are talking rubbish.
@Bren39
4 ай бұрын
@@martinmcnulty8155 Pls read by comment. Tesla was working on production and eventually passed. Fisker had failed production. They're outsourcing. Quality and quantity is not there. Fisker made the very same mistakes a fisker karma. Nice car, outsourced production.. Full of bugs. Fisker is cooked. Guy hasn't learned a thing from his first failure. Nissan is making a mistake partnering with this guy... But then again it explains all their mistakes over the last 15-20 years.
@jamesc5751
2 ай бұрын
@@martinmcnulty8155lol huffing industrial strength copium
Can't wait for 2026 when they'll try again 😂😂😂
Apple just canceled the electric car project and some analyst say rivian is the one they should consider to invest but isn’t Fisker a great choice now?If they are sharks.
@martinmcnulty8155
4 ай бұрын
Yes I agree an Apple-Fisker agreement would be fantastic for both companies.
@JoeyBlogs007
4 ай бұрын
Perhaps it is Apple they ae negotiating with.
@narenaw4258
4 ай бұрын
@@JoeyBlogs007 no, they said only OEM.
He is contradicting himself big time. He said there are huge demand for Fisker vehicle. At the same time, he immediately said the EV market has been very tough in the last few months, and he said that is a major challenge for his company. So which one is it? The sales of Fisker is good AND bad at the same time?? We all know sales of Fisker vechile isn't going well. So is he lying?
buy FSR and the great Car. Together we are strong
@andreasl4507
4 ай бұрын
Hell no. Trash car.
@kanoam7716
4 ай бұрын
You’re coping with your $11 FSR entry back in 2021. It’s a trash car with trash nepo executives and trash stock. It will plummet to $0
@borky1987
3 ай бұрын
Buy a bankrupt company? 😅
Good interview!
The only real competitor to the Model Y? Not true at all… Nissan, Kia, Ford, BMW & Volvo all have options.
@cuprashoe
3 ай бұрын
And all better options too
Average cost of $12 since 2021, man am I a stunod
@arfafaradiant9363
4 ай бұрын
How many shares?
The CEO seemed pretty uncomfortable. Fisker is leveraged to the teeth - guessing to pay for the first production run. Hard to see the company getting out of this, not unless the cars are sold before they even leave the Magna Steyr production lines. Good luck getting that 400mil from Nissan, though.
@martinmcnulty8155
4 ай бұрын
With the new dealer model that is exactly the case: The cars are sold before leaving the factory.
@2023gainer
4 ай бұрын
$ 1.2 billion in Ocean Suv EV revenue expected in 2024 from approx 22,000 vehicles, but it will be more.
@SingaporeFriedrice
4 ай бұрын
They lost so much money last quarter . @@2023gainer
@AKA001
4 ай бұрын
@@martinmcnulty8155in a world where nearly every manufacturer is moving away from a dealership model to an agency model. Finding dependency on dealerships has no future for Fisker.
I believe everything Henrik say and will load the boat.
@andreasl4507
4 ай бұрын
Dork
@jonplett396
4 ай бұрын
LOL
@15xgg80
3 ай бұрын
RIP
Don’t buy it yet. I have had mine since Dec. drives good and looks good but everything else about this company and how it operates is crap and the current software is nothing more than a preproduction car. Key fob rarely works, adaptive cruise isn’t active, no car play, wireless charger doesn’t work (rubber covering over it is too thick to charge), no OTA updates since Dec, error messages for malfunction of safety systems daily. Car rolls backward when in drive when stopped, many more. It really sucks that I bought the most expensive version and nothing that makes it the premium model works (yet) or ever….fingers crossed
@AKA001
4 ай бұрын
Sorry to hear this mate. There’s nothing worse than spending your hard earned and not getting what you paid for.
@daniela9171
3 ай бұрын
Why would you buy this thing
Lock him up
This video is a month old now. Did it go up?
@jasond869
3 ай бұрын
No. Lost a fortune here
Big mistake by Nissan. All they had to do was wait less than a year and buy the intellectual props for less than $100M and then build it... Just like fisker karma. Btw, this fisker guy never learns.
Two late filings and this one is still unaudited, the late filing also made them lose cash and patents to a key investor. To save the company, they first of all need a real CFO with battle hardened experience, not just Henrik hiring his wife. Get all the nepo hires out to save the company, maybe even a new CEO and let Henrik play with design.
@Adrian-op5ni
4 ай бұрын
I like this response. Strong logic and common sense. Hardline tough decisions that could pay off. If Henrik gets past this tough time and avoids bankruptcy, he should consider stepping to the side and becoming chief designer.
@jamesc5751
2 ай бұрын
Or he could just seek employment at an actual car company. Who would willingly walk into this wreck
Signing up dealers everyday. You only have a few. Start telling the truth Henrik.
I hope he will make it, somehow, he worked hard.
I seriously wonder if Henrik ever planned to make Fisker Inc a success. The amount of errors is extraordinary. No viable plan to distribute, sell, support, or service the vehicles😢The only thing that worked was outsourcing manufacturing. Certainly employing family members with no knowledge or skill in key positions hasn’t halted.
People forget tesla had all kinds of problems and bugs when they launched... people invested in fisker thinking it will be the next tesla immediately thats not how things work in reality... to put it in perspective tesla was founded in 2003 and only in 2020 they had their first profit year...fisker is a new company with vision be patient people everything is gonna work out fisker just builds beautiful cars fisker designed tesla to fyi 🙏🏻
@Greatdane-qf8kd
4 ай бұрын
But what you forget is that competition is A LOT more fierce now than it's ever been, so you can't afford such a bad start like Fisker has got. As a Dane I really wished Fisker would succeed but my guess is that they will shut down production within 2 years
@Adrian-op5ni
4 ай бұрын
@@Greatdane-qf8kdwith beautiful design and contract manufacturing I think they can survive. I’m rooting for them. I do think Henrik needs to step aside and hire a new CEO if they get past this tough time.
This is what you get when you have Designers being CEOs of what is fundamentally an Engineering company. We need to reverse this trend of having lawyers, accountants, designers, etc being CEOs of Engineering companies in which quality is paramount. *cough* BOEING *cough*
Ooops.. looks like he was completely wrong…optimistic huh? About bankruptcy..?
Cutting 15% of workforce has been explained by going dealer direct. Quit making the 15% cut to be a bad thing, it makes sense!
So glad that I didn't buy that car with such a poor system around it 🙏🏼
Noo look at the Stock shares of this car 4:52 from the End of 2021 Fiskers Stock has been falling long before MKHBD review in late 2023.
MKBHD’s review could be the nail in the coffin for Fisker. That…& Elon has a real beef with him. Powerful enemies.
@Adrian-op5ni
4 ай бұрын
That youtuber isn’t powerful. They get clicks but don’t influence. They don’t have the public’s respect and are seen beneath Hollywood celebrities. That are seen for a take or perspective, but not seen as important.
@dominicj7977
4 ай бұрын
@@Adrian-op5ni you understand that car buyers view reviws online before buying yes?
@SunnyHF-nf4bc
3 ай бұрын
@@dominicj7977 You do understand that Fisker was already informed that they didn’t qualify for NYSE listing before MKBHD’s review went up?
Please take my money
@borky1987
3 ай бұрын
He took it 😅
🧐
This guy is a legendary car designer look to see his FSR stock skyrocket very soon!🎉🎉🎉🎉
@user-xv5tf7wk1k
4 ай бұрын
Better put a big bag on this stock boys and girls!
@alexflorentinalmas4635
4 ай бұрын
Delisting
This guy is a scam artist. Went bankrupt once before and will go bankrupt once again but not before he buys his 22 million dollar mansion with shareholder money.
1:35 “Longer range” by stuffing an oversized battery in a heavy chassis. The Ocean is nearly 300kgs heavier than the Model Y Performance. Claimed efficiency doesn’t mean anything with Henrik, just like his 5 star NCAP rating claim.Taco trays, roll down windows, solar roofs don’t mean anything when they don’t have any meaningful function, they’re just gimmicks. The Model Y has gimmicks too. But they don’t cost anything and are not at risk of breaking. Warranty claims is literally what will break Fisker, because it’s not the dealers’s or Magna’s problem. It’s Fiskers. Sure It the Ocean ooks great, but so did the Karma. And look what happened to that.
@ainuinvid
3 ай бұрын
Have you ever driven tesla? Their build quality is so poor that I wonder why do even anyone buy this junk?
@AKA001
3 ай бұрын
@ainuinvid I've had three since 2015 mate. Still owning the current two. A Model 3 and Model S. You clearly haven't owned one. Good luck in your whatever you're driving.
Insiders bought a lot of shares lately.
This egocentric guy and her wife will hardly get any trust after company bankruptcy. The design of his cars are amazing but he has no clue how to run business neither his wife knows anything about finances. He should have from the beginning be the face of the company but let someone else to do accounting and leading the operation side of business.
Con man
Isn't he lacking sleep? Maybe I felt so looking at his eyes
@Bren39
4 ай бұрын
He's wearing contacts. Wearers always blink in front of the bright lights I guess.
Don’t believe in Henrik.
Nissan needs to gain all the knowledge and techniques all they can from this partnership so they can improve their EV offerings, but personally I would rather Nissan just acquire Fisker, Fisker is cheap right now their stock is tanking, Nissan can just literally rebadge their products into either Nissan or Infiniti. Fisker needs Nissan more than Nissan needs Fisker. If its just a partnership and a cash infusion then Fisker will still go bust, they don't have a factory of their own in USA, but if Nissan buys them out then they can retrofit their cars into Nissan's own North American plants.
@2023gainer
4 ай бұрын
Investors aren't selling Fisker.
@testing6753
4 ай бұрын
What is Fiskers end goal?
@2023gainer
4 ай бұрын
@@testing6753 Improving the Environment and the Air we all breathe. Every investor and EV buyer makes that happen.
@Bren39
4 ай бұрын
@@2023gainerok then let it go bankrupt.. Like fisker 1.
@emikomina
4 ай бұрын
@@2023gainer if they won't sell to Nissan then good luck with bankruptcy you clowns
Once a failure always a failure
Hey your employees arent too happy with the husband wife duo running the company. Many of them sound real smart. Many of them mentioned issues on reddit and glassdoor that are way too relatable to be made up. I dont believe your interview. Shareholders are about to loose it all as your stock dumps below .40 and I think you are going to file. Then reopen 3-5 years later under a different name. Will this be your 4th or 5th time reopening?
Yeah, so... lol
Nissan cant sell cars either... LoL 😆😆😆
The first thing that needs to happen is to get an experienced and hardened CFO and COO in place. The whole wife thing is not working out.
Wouldn't one think that something is up if Deutsch Bank won't give them any money?
You call yourself A CEO. 2 nd time BANKRUPT.
Fisker has no future. Close the door
@LeonFalkner
4 ай бұрын
Wie kommen sie dazu, sofern die Firma Fisker von Nissan die 400 Millionen USD erhält, geht es der Firma wirtschaftlich wieder gut. Da Fisker Autos in diesem Wert plus Autoteile und sonstiges auf Lager hat, wäre das Risiko für Nissan bei solchen Sicherheiten sehr klein. Zudem könnte Nissan Global sein Händler die Fisker verkaufen und den Service machen. Dann wäre Fisker sofort in einer ganz anderen Markt-Position. Selbiges könnte auch Tesla oder Elon Musk persönlich tun, dies wäre noch besser.
Funny how all these people said the competition is coming and all i've seen is Ford, GM, Stellantis throwing in the towel. Rivian, Lucid, and Fisker on the verge of bankruptcy
@martinmcnulty8155
4 ай бұрын
Fisker will come good. They have a fantastic car.
@2023gainer
4 ай бұрын
Rivian has billions $... Lucid selling with strong financial backing and Fisker has 300 % increase in EV sales planned for 2024.. No Bankruptcy issues.
@ocampbell1954
4 ай бұрын
@@2023gainer Do you have any understanding of scaling or basic financial literacy? If they can't drive down the cost of their vehicles and lose money on every car they sell what is going to happen? Lets talk about operating cash that they're burning through. Rivian is fcked!
@ocampbell1954
4 ай бұрын
@@martinmcnulty8155 That's now how business works. lol Go read the companies balance sheet, look at their debt and assets, then come back to me when you understand finance 101.
@2023gainer
4 ай бұрын
@@ocampbell1954 Do you not understand that volume sales solves that problem..$ 1.2 billion revenue 2024. ?
Go to sleep. Buy a Polestar 3 or 4. So much better option.
@s7yler
3 ай бұрын
Not really. Polestars shares have lost 84% of their value in the last year as the business failed to turn a profit and was forced to cut its delivery targets. Up to 450 jobs are expected to be cut at Polestar, in order to reduce costs, according to Reuters. Volvo are also not funding Polestar anymore now.
@najthesavior4286
3 ай бұрын
@@s7yler Seriously?
Dogelon Mars is going crazy right now 😎, but then again, most all of it is...
bankrupcy will be likely.
The ER this week was awful, but they are trying desperately to hang on. Can't say I've ever seen a company report -35% margins and stay in business, no company can stay in business for long losing that kind of money on everything they sell. Not sure who leaked the Nissan deal (they remain "unnamed") and what motivation they might have had for doing so but the stock did come off the lows of the day yesterday. This was a good trade off the bottom into the runup to earnings but I can't jump back in, Henrik's body language when speaking about the Nissan deal seems a little off. Good luck. And no, I'm not short $FSR.
You'd have to be a fool to have invested in this. This guy has already shown he's incompetent when he failed the first time he tried.
@Sturgeonsurgeon
4 ай бұрын
Shorting the stock eh?
@2023gainer
4 ай бұрын
Over 400 Institutional Investors holding/ trading / shorting FSR shares and making millions. Retail investors own most of FSR shares.
Personally if i ran an oem, we wouldn't be going electric. If we had no choice and were forced to go in that direction, we would let Fisker go bankrupt and buy them for pennies on the dollar.
@testing6753
4 ай бұрын
Why not electric?
Fisker is going bankrupt.
@LevinHop
4 ай бұрын
go to sleep troll
@Sturgeonsurgeon
4 ай бұрын
Shorting the stock eh?
@liuyi900
4 ай бұрын
@@Sturgeonsurgeon nope, not touching it.
@AKA001
4 ай бұрын
Going bankrupt hard. If you only chance in hell is Nissan, with it’s $50 billion debt and junk credit status, the only thing they have to offer is manufacturing facilities, no cash. And if you think Magna is going to let you off a contract. Think again.
@liuyi900
4 ай бұрын
@@LevinHophow u feeling now bro ?
Fisker going bankrupt
@Sturgeonsurgeon
4 ай бұрын
Shorting the stock eh?
@ps3301
4 ай бұрын
@@Sturgeonsurgeon too late. Their price is almost at bankrupt level.
Lock him up