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Fisker CEO makes ultimate sacrifice to save EV company from total death

Credit: Fisker

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Fisker CEO Henrik Fisker and his wife, Geeta Gupta-Fisker, who are co-founders of the now-bankrupt electric vehicle company, are making the ultimate sacrifice to keep the automaker on life support.

After filing for Chapter 11 bankruptcy earlier this Summer, Fisker is doing whatever it can to keep the doors symbolically open.

However, everything from slashing employee headcounts to not using electricity at their headquarters is being factored in as the company is pulling all the stops to potentially save what is left.

Fisker’s bankruptcy leaves owners without answers and scrambling for help

Now, the Fiskers are eliminating their salaries, at least for the most part, in an attempt to preserve cash.

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A Tuesday court filing from Fisker Chief Restructuring Officer John C. Didonato said that both Fisker and his wife would reduce their annual salaries to just $1 apiece.

The decision was made just two days ago on July 8, according to Quartz. Fisker and his wife were both paid $62,400 in 2022, but they both took home bonuses that amounted to $710,000. They also each owned 843,843 shares of Fisker as of March, which gave them majority voting control.

Credit: Fisker

Fisker is also deferring “certain severance payments, certain employee healthcare benefits, and vehicle sale incentive bonuses,” the filing said. Its payroll for next week will amount to $964,000, going to around 130 employees that remain. At one point in September of last year, Fisker had 1,300 employees.

The company is doing anything it can to stockpile cash, including requesting permission to sell 3,312 of its Ocean EVs to American Lease, a car leasing firm, for $46 million. This is just $14,000 per unit.

Based on its payroll requirements, this will buy the company plenty of time to do restructuring, but it also has to factor in other expenditures, like a recent recall for vehicles in the United States, Canada, and the EU due to an issue with a water pump.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

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Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla shares updated timeframe for Cybertruck FSD V14 release

The Cybertruck was expected to receive FSD V14 before the end of the month, but Tesla was not able to meet the target.

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Credit: Tesla

Tesla’s Full Self-Driving (FSD) V14 update for the Cybertruck could arrive this weekend, as per recent comments from Director of Autopilot Software and VP of AI Ashok Elluswamy. 

The Cybertruck was expected to receive FSD V14 before the end of the month, but Tesla was not able to meet the target.

Cybertruck FSD V14

Considering the extended wait for FSD V14, it was no surprise that several Cybertruck owners were asking for updates about the system’s rollout to the all-electric pickup truck on Friday. These included the official Cybertruck X account, which responded to Elluswamy’s end of month estimate with “I only see trick. Where is my treat.” 

This prompted a response from the AI executive, who replied with, “Sorry, pushing for early access Cyber release over the weekend.” This means that if all goes well, Cybertruck owners would be able to experience FSD V14 very soon. Some, however, are wondering if Tesla would go straight to V14.2 for the Cybertruck’s FSD V14 update, or if the vehicle will receive V14.1 first. 

Tesla pushes to unify FSD experience across its lineup

The upcoming Cybertruck rollout represents the next step in Tesla’s efforts to roll out FSD capabilities across all of its vehicles. FSD V14 is a notable step forward for the company’s AI-driven self driving system, with features like Mad Max mode getting positive reviews from longtime Full Self Driving testers.

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For the Cybertruck, the FSD V14 update would mark one of its first major over-the-air upgrades for the vehicle. Likely due to its size, the Cybertruck tends to receive FSD updates later than the S3XY lineup, which is quite surprising considering that the all-electric pickup truck is a premium-priced vehicle that is home to some of Tesla’s most advanced technologies.

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“Tesla Ride” program lets riders experience FSD and Grok AI in real-world demos

The initiative aims to bring supervised Full Self-Driving demos and Grok AI-guided experiences to consumers in real world trips.

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Credit: Tesla AI/X

Tesla has launched a new service designed to make its Full Self-Driving (FSD) technology familiar to all commuters. 

Dubbed the “Tesla Ride” program, the initiative aims to bring supervised Full Self-Driving demos and Grok AI-guided experiences to consumers in real world trips. 

How Tesla Ride Works

As per the official Tesla Ride website, the session will allow participants to sit in the driver’s seat while a Tesla Advisor rides shotgun as co-pilot. The Tesla Advisor then guides riders through the company’s latest supervised FSD features, comfort settings, and in-car entertainment. Participants would also be able to interact with Grok AI in the vehicles. Grok will be capable of answering questions during the ride, and it will even tell stories along the way.

Tesla noted, however, that Tesla Ride sessions are capped at 45 minutes each, and it requires participants to have a valid driver’s license and insurance. Interested participants are also advised to call beforehand so they can schedule their Tesla Rides.

Marketing push and reach

The Tesla Ride program runs across several markets from October into November, and in some locations into the end of December 2025. Participating states are numerous, from Michigan to Virginia to Illiois, Nevada, and California, among others. A look at the official webpage for Tesla Ride shows that the company is still taking a very cautious approach with the program, with disclaimers clearly stating that FSD Supervised does not make Teslas autonomous just yet.

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Tesla’s focus on safety with FSD was highlighted recently by Senior Vice President for Automotive Tom Zhu. “Elon said it in 2021: “For self-driving, even if the road is painted completely wrong and a UFO lands in the middle of the road, the car still cannot crash and still needs to do the right thing. 

“The prime directive for the autopilot system is: Don’t crash. That really overrides everything. No matter what the lines say or how the road is done, the thing that needs to happen is minimizing the probability of impact while getting you to your destination conveniently and comfortably,” the executive stated.

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Tesla to ramp to 500 Robotaxis in Austin, 1,000 in Bay Area, by end of 2025: Musk

This was, at least, as per recent comments from CEO Elon Musk during his appearance on the All-In podcast.

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Credit: Tesla

Tesla’s Robotaxi pilot is still in its early stages, but it seems like the program in Austin and the Bay Area will see a notable update soon. This was, at least, as per recent comments from CEO Elon Musk during his appearance on the All-In podcast. 

Robotaxi expansion

While discussing Tesla’s Robotaxi ambitions, Elon Musk shared some tidbits about the company’s targets for the autonomous ride-hailing program. As per Musk, Tesla is pushing to increase its Robotaxi fleet size in Austin to 500 units. The Robotaxi fleet in the Bay Area will also be increased to 1,000 units. These expansions are expected to be accomplished by the end of the year.

“We’re scaling up the number of cars to, what happens if you have a thousand cars? Probably we’ll have a thousands cars or more in the Bay Area by the end of this year, probably 500 or more in the greater Austin area,” Musk said in the podcast. 

Considering that there are only two months left in the fourth quarter of 2025, Tesla’s Robotaxi team will likely be extremely busy during the next eight weeks. A successful expansion of the Robotaxi pilot in Austin and the Bay Area will also bode well for the company’s ride-hailing program, which has been pretty conservative as of late.

Musk’s Robotaxi comments

Elon Musk has been pretty clear in the past that Tesla’s FSD and Robotaxi network would play a huge role in the company’s future valuation and potential. Thus, during the third quarter earnings call, Musk highlighted that Tesla will also be transitioning to a system with no safety monitors in Austin by the end of the year. 

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“We are expecting to have no safety drivers in at least large parts of Austin by the end of this year. So within a few months, we expect to have no safety drivers at all in at least parts of Austin. We’re obviously being very cautious about the deployment,” Musk said during the Q3 2025 earnings call.

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