Jobs in Graz at risk

Shock for Magna in Graz: Is Fisker facing the end?

The US electric car start-up Fisker itself is warning that it could soon run out of money. This would be devastating for Magna in Graz, where Fisker manufactures its vehicles.  

As Handelsblatt reported on Friday, the electric car manufacturer Fisker warned on Thursday that it could run out of money and not be able to continue operations. The company would have to raise additional equity or debt financing over the next twelve months - but there were doubts as to whether this would be possible. As a result, the Fisker share fell by 37 percent.

Only 10,000 instead of 40,000 cars per year
This also has a massive impact on Magna in Graz, where Fisker not only produces its vehicles, but which also holds a stake in the company - a small one. However, the problems at the US plant do not come as a complete surprise: the original plan was to produce 40,000 vehicles a year in Graz, but last year it was only 10,000. As a result, production is already running at the lowest level - in single-shift operation. The original plan was to return to "normal operation" in May - this now seems unlikely.