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Fisker CEO talks automaker’s pivot to dealer model and layoffs

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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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Опубликовано:

20 авг 2024

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Комментарии : 155

@drrajmmc 5 месяцев назад

The interviewer was too good. She has asked very valid and concerning questions to Henrik.

@Mrmudbone_gaming 5 месяцев назад

Crazy how only one guy completely took down fisker 😂😂😂

@HansM-bg8lm 5 месяцев назад

Does that make you happy??

@Mrmudbone_gaming 5 месяцев назад

@@HansM-bg8lm don’t make me sad! I’ll tell you that! Hahahahahahahahaha 😂 😂

@SunnyHF-nf4bc 4 месяца назад

⁠@@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 4 месяца назад

@@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 4 месяца назад

Selling the car before it was ready for market is what killed it. MKBHD just lit the match.

@darynm 5 месяцев назад

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 5 месяцев назад

It's called extreme stress

@SingaporeFriedrice 5 месяцев назад

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 4 месяца назад

@@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 2 месяца назад

😂

@mastertech9218 5 месяцев назад

This is exactly what someone who is confident looks like ;-)

@maxbond593 4 месяца назад

Bruh crazy how he talks positive about it a month ago but now that the stock is delisted.

@martinmcnulty8155 5 месяцев назад

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 5 месяцев назад

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 5 месяцев назад

@@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 5 месяцев назад

@@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 3 месяца назад

@@martinmcnulty8155lol huffing industrial strength copium

@googleads1060 5 месяцев назад

Great news for FRS

@slick3996 5 месяцев назад

MKHBD destroyed this guy's life lol

@uberenthusiasts 4 месяца назад

No him and his wife's incompetence did.

@JCJW101 3 месяца назад

@@uberenthusiasts Yep it was a joke, it clearly wasn't MKBHD

@testing6753 5 месяцев назад

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 5 месяцев назад

FISKER , does not even make the OCEAN.

@mm-vg7dm 5 месяцев назад

He said everything they sell is cash generating but today they took out a 150mill$ loan.

@welovebavaria 4 месяца назад

Where is the dealer list that he talked about? Happy to get an update

@acellar8299 4 месяца назад

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

@mitchroberts1386 5 месяцев назад

Great driving car! Looking forward to a positive outcome.

@chang-kp9sp 5 месяцев назад

Positive outlook? The future is so grim. I don't think Fisker will survive another year.

@Greatdane-qf8kd 5 месяцев назад

Going to be looking for that for a very long time.. Ain't going to happen

@jamesc5751 3 месяца назад

Lol see you again in 2040 when Fisker makes another failcar.

@mateuszkolacki1704 2 месяца назад

That aged well, they fired for bankruptcy

@2023gainer 5 месяцев назад

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 4 месяца назад

And sp 2 pennies.

@Bren39 5 месяцев назад

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.

@JPHEMLOCK 4 месяца назад

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 месяца назад

Nobody will want to invest in this guy again

@youlikeitiloveit3747 4 месяца назад

The only real competitor to the Model Y? Not true at all… Nissan, Kia, Ford, BMW & Volvo all have options.

@cuprashoe 4 месяца назад

And all better options too

@Sentenced66 5 месяцев назад

buy FSR and the great Car. Together we are strong

@andreasl4507 5 месяцев назад

Hell no. Trash car.

@kanoam7716 5 месяцев назад

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 4 месяца назад

Buy a bankrupt company? 😅

@borky1987 4 месяца назад

Can't wait for 2026 when they'll try again 😂😂😂

@mikemuoio2340 5 месяцев назад

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.

@Vxvx22 5 месяцев назад

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?

@wazanole7713 5 месяцев назад

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 5 месяцев назад

Sorry to hear this mate. There’s nothing worse than spending your hard earned and not getting what you paid for.

@daniela9171 3 месяца назад

Why would you buy this thing

@Ukacip 5 месяцев назад

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 5 месяцев назад

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 5 месяцев назад

@@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.

@anthonykoch3282 5 месяцев назад

Average cost of $12 since 2021, man am I a stunod

@arfafaradiant9363 5 месяцев назад

How many shares?

@ecobritefl2884 4 месяца назад

Lock him up

@Omid01 5 месяцев назад

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 5 месяцев назад

Yes I agree an Apple-Fisker agreement would be fantastic for both companies.

@JoeyBlogs007 5 месяцев назад

Perhaps it is Apple they ae negotiating with.

@narenaw4258 5 месяцев назад

@@JoeyBlogs007 no, they said only OEM.

@MossMini 5 месяцев назад

I believe everything Henrik say and will load the boat.

@andreasl4507 5 месяцев назад

Dork

@jonplett396 4 месяца назад

LOL

@15xgg80 4 месяца назад

RIP

@tipoomaster 5 месяцев назад

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 5 месяцев назад

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 3 месяца назад

Or he could just seek employment at an actual car company. Who would willingly walk into this wreck

@FALprofessional 5 месяцев назад

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 5 месяцев назад

With the new dealer model that is exactly the case: The cars are sold before leaving the factory.

@2023gainer 5 месяцев назад

$ 1.2 billion in Ocean Suv EV revenue expected in 2024 from approx 22,000 vehicles, but it will be more.

@SingaporeFriedrice 5 месяцев назад

They lost so much money last quarter . @@2023gainer

@AKA001 5 месяцев назад

@@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.

@ainuinvid 3 месяца назад

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.

@chillmeister 4 месяца назад

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.

@user-xv5tf7wk1k 5 месяцев назад

This guy is a legendary car designer look to see his FSR stock skyrocket very soon!🎉🎉🎉🎉

@user-xv5tf7wk1k 5 месяцев назад

Better put a big bag on this stock boys and girls!

@alexflorentinalmas4635 4 месяца назад

Delisting

@leluyaa 5 месяцев назад

So glad that I didn't buy that car with such a poor system around it 🙏🏼

@goma3 4 месяца назад

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*

@sensibleamericans1 5 месяцев назад

Cutting 15% of workforce has been explained by going dealer direct. Quit making the 15% cut to be a bad thing, it makes sense!

@coolpix222 3 месяца назад

Signing up dealers everyday. You only have a few. Start telling the truth Henrik.

@andrewc5955 4 месяца назад

Ooops.. looks like he was completely wrong…optimistic huh? About bankruptcy..?

@cristianebrahimovich9080 3 месяца назад

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.

@squ34ky 4 месяца назад

This video is a month old now. Did it go up?

@jasond869 4 месяца назад

No. Lost a fortune here

@leonyu9129 5 месяцев назад

Good interview!

@rudyroedling188 4 месяца назад

I hope he will make it, somehow, he worked hard.

@ChongSKim-gh9ok 4 месяца назад

Con man

@nayeemazam2874 5 месяцев назад

Don’t believe in Henrik.

@anthonysmithtube 5 месяцев назад

MKBHD’s review could be the nail in the coffin for Fisker. That…& Elon has a real beef with him. Powerful enemies.

@Adrian-op5ni 5 месяцев назад

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 5 месяцев назад

@@Adrian-op5ni you understand that car buyers view reviws online before buying yes?

@SunnyHF-nf4bc 4 месяца назад

@@dominicj7977 You do understand that Fisker was already informed that they didn’t qualify for NYSE listing before MKBHD’s review went up?

@AKA001 5 месяцев назад

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 месяца назад

Have you ever driven tesla? Their build quality is so poor that I wonder why do even anyone buy this junk?

@AKA001 3 месяца назад

@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.

@emikomina 5 месяцев назад

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 5 месяцев назад

Investors aren't selling Fisker.

@testing6753 5 месяцев назад

What is Fiskers end goal?

@2023gainer 5 месяцев назад

@@testing6753 Improving the Environment and the Air we all breathe. Every investor and EV buyer makes that happen.

@Bren39 5 месяцев назад

@@2023gainerok then let it go bankrupt.. Like fisker 1.

@emikomina 5 месяцев назад

@@2023gainer if they won't sell to Nissan then good luck with bankruptcy you clowns

@ryanchang3874 5 месяцев назад

Please take my money

@borky1987 4 месяца назад

He took it 😅

@erch4882 5 месяцев назад

Once a failure always a failure

@ditomathew1 5 месяцев назад

Isn't he lacking sleep? Maybe I felt so looking at his eyes

@Bren39 5 месяцев назад

He's wearing contacts. Wearers always blink in front of the bright lights I guess.

@THEVWAUDIELECTRICGUY Месяц назад

You call yourself A CEO. 2 nd time BANKRUPT.

@georgiaguardian4696 5 месяцев назад

Insiders bought a lot of shares lately.

@nightynine4061 4 месяца назад

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?

@jonathonhibbard 5 месяцев назад

🧐

@patostefak442 5 месяцев назад

Fisker has no future. Close the door

@LeonFalkner 5 месяцев назад

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.

@BRK-B-all-the-way 5 месяцев назад

Wouldn't one think that something is up if Deutsch Bank won't give them any money?

@JRock4572001 5 месяцев назад

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.

@andywuzc1 5 месяцев назад

bankrupcy will be likely.

@cy9nvs 4 месяца назад

Yeah, so... lol

@x2for10x 5 месяцев назад

Nissan cant sell cars either... LoL 😆😆😆

@ocampbell1954 5 месяцев назад

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 5 месяцев назад

Fisker will come good. They have a fantastic car.

@2023gainer 5 месяцев назад

Rivian has billions $... Lucid selling with strong financial backing and Fisker has 300 % increase in EV sales planned for 2024.. No Bankruptcy issues.

@ocampbell1954 5 месяцев назад

@@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 5 месяцев назад

@@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 5 месяцев назад

@@ocampbell1954 Do you not understand that volume sales solves that problem..$ 1.2 billion revenue 2024. ?

@BRK-B-all-the-way 5 месяцев назад

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 5 месяцев назад

Why not electric?

@andreasl4507 5 месяцев назад

Go to sleep. Buy a Polestar 3 or 4. So much better option.

@s7yler 4 месяца назад

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 4 месяца назад

@@s7yler Seriously?

@MarathonManPeatMoss 5 месяцев назад

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.

@FEDD 5 месяцев назад

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 5 месяцев назад

Shorting the stock eh?

@2023gainer 5 месяцев назад

Over 400 Institutional Investors holding/ trading / shorting FSR shares and making millions. Retail investors own most of FSR shares.

@liuyi900 5 месяцев назад

Fisker is going bankrupt.

@LevinHop 5 месяцев назад

go to sleep troll

@Sturgeonsurgeon 5 месяцев назад

Shorting the stock eh?

@liuyi900 5 месяцев назад

@@Sturgeonsurgeon nope, not touching it.

@AKA001 5 месяцев назад

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 5 месяцев назад

@@LevinHophow u feeling now bro ?