Jobs at Magna are shaky

Fisker fails in its search for a new partner

Bad news for Magna in Graz: Fisker, the faltering e-car start-up, has failed in its search for a partner. Fisker had already stopped production of its "Ocean" in Graz in March. A low four-digit number of jobs at Magna are at risk.

The US electric car start-up Fisker has failed in its search for a partner. Negotiations with a car manufacturer (Nissan was rumored) have been broken off, the company announced on Monday. Strategic options are now being examined, including in-court or out-of-court restructuring or capital market transactions. Hedge fund manager Thomas Hayes said that this makes it more likely that Fisker will take refuge under creditor protection.

Shares have lost 90 percent of their value
Fisker shares have lost 90 percent of their value since the beginning of the year. In mid-March, the company halted production of its Ocean model, which is manufactured at Maga in Graz, until a partner is found. Fisker has been in financial difficulties for some time and, according to a report, is preparing for possible insolvency.

It is rumored that a low four-digit number of jobs at Magna would be at risk due to the complete discontinuation of Fisker production.