Electric vehicle maker Fisker Inc. announced a 15% workforce reduction on Thursday as it warned that its current resources were likely insufficient to cover the coming 12 months. Fisker’s stock price plummeted 37% after trading hours following the update.
In a press release, Fisker noted that it would need to seek additional equity or debt financing to ensure that its operations could continue. Otherwise, the company noted that it would likely end up scaling back its operations, including more headcount reductions and lowered production of the Ocean.
“To the extent Fisker’s current resources are insufficient to satisfy its requirements over the next 12 months, the company will need to seek additional equity or debt financing, and there can be no assurance that Fisker will be successful in these efforts.
“If the financing is not available, or if the terms of financing are less desirable than Fisker expects, the company may be forced to decrease its planned level of investment in product development, scale back its operations including further headcount reductions, and reduce the production of Fisker Ocean, which could have an adverse impact on the company’s business and financial prospects,” Fisker noted.
Fisker also stated that it was not able to file its 2023 Form 10-K within the report’s prescribed submission period. In its press release, Fisker explained that this was because the company “needs additional time to finalize its consolidated financial statements, finalize the assessment of its internal control over financial reporting and related disclosures, and complete its procedures for the 2023 Form 10-K.”
Fisker expects to file its 2023 Form 10-K by March 15, 2024.
Fisker reported preliminary fourth-quarter revenue of $200.1 million, an increase of $128.3 million from Q3 2023. The company also noted that its gross margin for Q4 2023 was -35%. Production of the Fisker Ocean was at 4,789 in Q4 2023, with 3,818 units being delivered to customers during the quarter. Over 2023, a total of 10,193 Fisker Oceans were produced and 4,929 units were delivered to consumers.
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Elon Musk
Tesla set for ‘golden age of autonomous’ as Robotaxi nears, ‘dark chapter’ ends: Wedbush
Tesla is set to win big from the launch of the Robotaxi platform, Wedbush’s Dan Ives said.

Tesla (NASDAQ: TSLA) is set to kick off its own “golden age of autonomous growth” as its Robotaxi platform nears launch and a “dark chapter” for the company has evidently come to a close, according to Wedbush analyst Dan Ives.
Ives has jostled his price target on Tesla shares a few times already this year, usually switching things up as the market sways and the company’s near-term outlook changes. His price target on Tesla has gone from $550 to $315 to $350 back to $500 this year, with the newest adjustment coming from a note released early on Friday.
🚨 Wedbush’s Dan Ives is raising his price target on Tesla $TSLA from $350 to $500 as the “golden age of autonomous” nears:
“We believe the golden age of autonomous is now on the doorstep for Tesla with the Austin launch next month kicking off this key next chapter of growth for…
— TESLARATI (@Teslarati) May 23, 2025
As CEO Elon Musk has essentially started to dwindle down his commitment to the Department of Government Efficiency (DOGE) altogether, Ives believes that Tesla’s “dark chapter” has come to a close:
“First lets address the elephant in the room…2025 started off as a dark chapter for Musk and Tesla as Elon’s role in the Trump Administration and DOGE created a life of its own which created brand damage and a black cloud over the story….but importantly those days are in the rear-view mirror as we are now seeing a recommitted Musk leading Tesla as CEO into this autonomous and robotics future ahead with his days in the White House now essentially over.”
Ives believes Tesla’s launch of Robotaxi should be the company’s way to unlock at least $1 trillion in value alone, especially as the Trump White House will fast-track the key initiatives the automaker needs to get things moving in the right direction:
“The $1 trillion of AI valuation will start to get unlocked in the Tesla story and we believe the march to a $2 trillion valuation for TSLA over the next 12 to 18 months has now begun in our view with FSD and autonomous penetration of Tesla’s installed base and the acceleration of Cybercab in the US representing the golden goose.”
There are some concerns moving forward, but none of which relate to the AI/autonomous play that Ives primarily focuses on within the Friday note. Instead, they are related to demand in both Europe and Asia, as Ives said, “there is still wood to chop to turn around Model Y growth” in both of those markets.
Nevertheless, the big focus for Ives is evidently the launch of Robotaxi and the potential of the entire autonomous division that Tesla plans to offer as a ride-sharing service in the coming months. Ives also believes a 50 percent or more penetration of Full Self-Driving could totally transform the financial model and margins of Tesla moving ahead.
Aware of the setbacks Tesla could encounter, Ives still believes that Tesla will establish itself as “the true autonomous winner over” and that investors will recognize the AI vision the company has been so bullish on.
Ives pushed his price target to $500. Tesla shares are down just under 1% at the time of publication. They are trading at $337.88 at 11:45 on the East Coast.
Elon Musk
SpaceX Starship gets FAA nod for ninth test flight
The FAA has given the green light for Starship’s ninth test flight.

SpaceX has received FAA approval for the ninth test flight of the Starship rocket. The approval was delayed due to the federal agency finishing its comprehensive safety review of the eighth flight earlier this year.
The FAA said in a statement that it has determined that SpaceX has “satisfactorily addressed the causes of the mishap, and therefore, the Starship vehicle can return to flight.”
The eighth test flight occurred back on March 6. SpaceX completed a successful liftoff of Starship and the Super Heavy Booster, before the two entered stage separation a few minutes after launch.
Starship Flight 8: SpaceX nails Super Heavy booster catch but loses upper stage
The booster returned and was caught by the chopsticks on the launch pad, completing the second successful booster catch in the program’s history. However, SpaceX lost contact with Starship in the upper atmosphere.
The ship broke up and reentered the atmosphere over Florida and the Bahamas.
The debris situation caused the FAA to initiate a mishap investigation:
Starship Flight 8’s Ship 34 provided some beautiful fireworks in the sky during its rapid unscheduled disassembly. Beautiful but unfortunate.
Hopefully, Flight 9 would no longer have any RUD incidents. pic.twitter.com/p4qAToDXOM
— TESLARATI (@Teslarati) March 7, 2025
The FAA said it will verify that SpaceX implements all the corrective actions on Flight 9 that it discovered during the mishap investigation.
There is no current confirmed launch window, but the earliest it could take off from Starbase is Tuesday, May 27, at 6:30 p.m. local time.
To prevent any injuries and potentially limit any damage, the FAA has stayed in contact with various countries that could be impacted if another loss of vehicle occurs:
“The FAA is in close contact and collaboration with the United Kingdom, Turks & Caicos Islands, Bahamas, Mexico, and Cuba as the agency continues to monitor SpaceX’s compliance with all public safety and other regulatory requirements.”
The agency has also stated that the Aircraft Hazard Area (AHA) is approximately 1,600 nautical miles and extends eastward from the Starbase, Texas, launch site through the Straits of Florida, including the Bahamas and Turks & Caicos.
For flight 8, the AHA was just 885 nautical miles.
News
Hyundai begins real-world testing of AI-powered EV charging robot

Hyundai announced on Thursday that it has officially launched real-world testing of its AI-powered EV charging robot, which it is referring to as the ACR.
The Korean company is partnering with both Kia and Incheon International Airport for the testing phase, which was launched with a memorandum of understanding (MOU). The pilot program is going to be used to lay the groundwork for future robot use for EV charging.
Incheon already has a reputation that aligns with the pilot program as it has the largest eco-friendly vehicle infrastructure in Korea, according to Korea JoongAng Daily, which first reported the launch of the pilot program.
Hyundai is partnering with Kia’s Robotics Lab to provide hardware and software solutions for this early rollout.
Yan Hee-won, President of Hyundai Motor’s R&D Division, said:
“This marks an important turning point in validating the practical value of future mobility technologies. With customized automatic charging solutions, we aim to deliver a more convenient and enhanced mobility experience for users.”
The testing phase will be limited in the sense that the charging robot will be deployed for a fleet of eco-friendly airport vehicles. Those who park their EVs at the airport will not be able to use it for use while they’re traveling — at least at first.
Eventually, it will become a great way to give vehicles range while the owners are off on trips.
Tesla had a similar idea several years ago, which it shared viral videos of back in 2015.
Tesla “snake charger” wasn’t just a creepy one-off, suggests Elon Musk
Musk said in 2020 that Tesla still had the intention of making it. However, it has shifted to wireless induction charging, which seems to be a better option simply because of fewer moving parts and better compatibility with the upcoming Robotaxi fleet.
Tesla flexes Robotaxi wireless charging — autonomy from top to bottom
Tesla displayed its wireless charging idea at the “We, Robot” event last year:
Robotaxi wireless charging
No hands required pic.twitter.com/XL746DkGhb
— Tesla (@Tesla) October 18, 2024
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