On the car company’s website, it is clear to everyone that the man behind the company is something very special.
He has, one can read, “the rare ability to look into the future and see things that others do not see.”
He is a legendary car designer. An imaginative thinker. A pioneer in the automotive industry.
The flattering comments almost line up.
But nice words these days can’t save Henrik Fisker, who once morest an unpleasant background has become one of the car industry’s biggest topics of conversation.
The man behind the electric car company Fisker Inc. is fighting to avert imminent bankruptcy, all the while FDM advises Danes once morest buying his hyped electric car, and stock experts label his company as a lottery ticket.
And there are indications that Henrik Fisker’s suffering is far from over.
The assembly lines stand still
On Monday evening, Fisker Inc. announced that it is suspending all its production for six weeks.
At the same time, new figures show that Henrik Fisker is miles away from selling the amount of cars he has promised investors.
In fact, the sales figures for Fisker Inc. “shockingly bad”, says an experienced industry insider.
Henrik Fisker wants to take on Tesla and sell thousands of electric cars. Some have already been delivered to Danish customers – including a few in North Jutland.
PR photo: Fisker Inc.
As recently as three weeks ago, it was heard from Henrik Fisker that this year he expects to deliver between 20,000 and 22,000 copies of his Fisker Ocean electric car.
It was even “conservatively put”, one had to understand.
In order to reach that goal, approximately 5,000 cars must be sold in the quarter. New figures show that Henrik Fisker has only delivered 1,300 cars up to 15 March this year.
– These are shockingly bad sales figures, writes René Tønder, who is an independent strategic advisor and has followed the car industry closely for years, on LinkedIn.
Rumors of imminent bankruptcy
Fisker Inc. is in deep financial difficulties and urgently needs money to be able to continue operations. In a press release on Monday, it was stated that an existing investor will allegedly add DKK 1 billion to the company.
But divided into four tranches and under “certain conditions”, which are not yet known to the public.
– It is not clear from the press release what the liquidity costs, but it is probably not cheap, notes René Tønder.
Last week, Fisker Inc. defaulted. an interest payment of $8.4 million. At the same time, according to the Wall Street Journal and Bloomberg, the company has allied itself with advisers to help potentially apply for bankruptcy protection in the United States.
This corresponds to what is known here as a suspension of payments with a view to a reconstruction.
Fisker Inc., which lost over DKK 5 billion last year, acknowledged as recently as Monday that there are significant doubts regarding the company’s continued operations.
A life-giving agreement
In addition to the urgent search for fresh capital, the company is in negotiations with “a major car manufacturer” regarding a partnership or an investment.
But nothing has fallen into place. And meanwhile, production of Fisker Ocean has been put on hold for six weeks.
– One might fear that production will never resume. Unless, of course, this agreement with the “major automaker” can save the company, writes René Tønder.
Fisker Ocean, which Henrik Fisker himself designed from scratch, is relatively simple compared to many of the other electric cars on the market.
The sales figures in Denmark, where Henrik Fisker’s nationality may have given a little extra tailwind, have been respectable. According to FDM, well over 300 Fisker Ocean – at a piece price on the good side of half a million kroner – have appeared on Danish plates since last summer, of which 215 are privately owned.
However, this does not change the fact that Fisker Ocean’s worldwide sales figures have far from gone as Henrik Fisker hoped. In addition to ailing sales, the car has struggled with a host of faults, and the latest figures from Fisker Inc. indicates that consumers are still reluctant to take the plunge.
The company has 4,700 cars standing. And the risk of an imminent bankruptcy probably does not make potential buyers more eager to shop.
The same applies to investors who want to buy shares in Fisker Inc.
The stock has collapsed
On top of Monday’s announcement of, among other things, production stops, the stock fell 16 percent to an all-time low: $0.1475.
As a result, the share has fallen by 90 percent – in just one year.
– It is super serious if you see a share turn into one penny share (a stock that trades at a very low value, red.) It is not good for a company when you go out and say that you are stopping production, says Lars Skovgaard, investment strategist at Danske Bank, to DR.
If you as a car buyer should still be tempted to choose a Fisker Ocean, FDM recommends that you privately lease it. Then you don’t have to worry regarding resale value or the possibility of service and repair.
Henrik Fisker founded, together with his wife, Fisker Inc. in 2016. The company is listed in California.
2024-03-19 17:48:10
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