Report: Fisker to Close California Headquarters

Fisker Is Closing Its California Headquarters: Report

According to reports, troubled electric automaker Fisker is in the process of shutting down its main headquarters in Manhattan Beach, California. The news of this closure was initially reported by Business Insider after receiving tips from three different Fisker sources revealing that employees were asked to pack up their belongings for a move to the company’s R&D facility in La Palma, California, approximately 40 miles away. This decision comes following warnings to employees about potential layoffs and the shutdown of its facility.

Fisker has been struggling financially throughout 2024, with the Wall Street Journal even publishing an article exposing the company’s financial crisis, stating that Fisker had limited cash reserves. Additionally, tech YouTuber Marques Brownlee’s negative review of the Fisker Ocean worsened the situation for the company. Fisker had been seeking assistance from larger automakers, with a possible deal with Nissan on the horizon that ultimately did not materialize, leading to Fisker being delisted from the New York Stock Exchange.

The company’s challenges have now reached a critical point, with employees receiving a warning that they could face termination by June 28, 2024. Fisker emphasized that they are exploring various options to address their financial situation but acknowledged the possibility of the closure of the facility and employee layoffs. The company also clarified that the conditional notice of termination does not guarantee that all employees will be let go.

Amidst these developments, the California’s Employment Development Department has not yet listed a WARN Act notice filing for Fisker. The company has faced criticism for shutting down service centers and using pre-production cars to repair customer vehicles. Fisker’s recent dealership expansions have raised speculation about a potential liquidation of existing vehicle stock.

InsideEVs has reached out to Fisker for comment on these reports, while Fisker has declined to provide a statement to Business Insider.