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Fisker warns employees of job cuts and facility closure in two months

Credit: Fisker

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Fisker Inc. has reportedly warned its employees that potential layoffs and facility closure could occur within two months if the company is unable to secure its financial future.

In an email obtained by Insider and reportedly confirmed by several Fisker Inc. employees, the EV startup acknowledged its ongoing efforts to address cash flow issues, including discussions with potential buyers and investors, as well as potential restructuring options. The email, however, also cautioned that “there is a possibility… that these efforts will not be successful.”

The email was reportedly sent by the company’s newly appointed restructuring officer. As per the message, some staff terminations could be rolled out effective June 28, and the company’s “facility will be closed.” In a way, the messages seems to be Fisker’s efforts to comply with the Worker Adjustment and Retraining Notification Act, which requires companies with over 100 employees to provide 60 days’ notice before mass layoffs or plant closures.

A Fisker spokesperson noted that the company is determined to pursue the best path forward. “Every decision is made following thorough analysis and careful consideration of the available options, including the appropriate locations and workforce for the go-forward business, as well as our ability to manage our liquidity and sell our inventory,” the spokesperson stated.

Following is the email in full: 

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As you know, Fisker Group Inc. (the “Company” or “Fisker”) has previously communicated that it will provide updates on significant developments that may impact Fisker’s workforce. Over the past few months, Fisker’s leadership team has been pursuing all avenues to preserve the future of the business and its path forward. Fisker is diligently pursuing all options to address our operating cash requirements, including maintaining discussions with prospective buyers and investors and exploring various restructuring alternatives.

There is a possibility, however, that these efforts will not be successful. Should this possibility materialize, the Company has an obligation to provide “conditional notice” that employees — including yourself — will be terminated on June 28, 2024. If the Company must terminate your employment in the future, the job loss will be permanent and the facility will be closed. The Company has no policy creating transfer, bumping, or reassignment rights for employees laid off from the business. If needed, we will provide you with additional separation information, including information regarding unemployment, COBRA benefits, and severance pay.

This notification does not mean the Company is shutting down or ceasing operations, and receiving this conditional notice does not necessarily mean you will be let go. Fisker is operating under challenging circumstances and we are making every effort to work towards an outcome that facilitates new investment or other strategic solutions. We appreciate your dedication and support for one another during this challenging time. Thank you for your hard work and contributions to Fisker.

In the meantime, please contact me, John DiDonato, Chief Restructuring Officer at ____________ should you have any questions.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Hyundai’s $7.6B Georgia plant dodges Trump’s 25% Tariffs  

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(Credit: Hyundai USA)

Hyundai’s $7.6 billion Georgia plant dodged U.S. President Donald Trump’s recently announced tariffs on imported vehicles and auto parts.

The South Korean automaker’s Hyundai Motor Group Metaplant America (HMGMA) in Georgia celebrated its opening recently by announcing plans to expand the factory. Hyundai aims to boost production by two-thirds, increasing HMGMA’s capacity from 300,000 to 500,000 vehicles annually.

“This plant couldn’t come at a better time than now. Because definitely all the cars that we would produce here are going to be exempted from any tariffs,” said Hyundai Motor Company CEO Jose Munoz.

President Donald Trump recently announced 25% tariffs on auto imports at the White House. President Trump praised the HMGMA plan in Georgia, commenting it was a “clear demonstration that tariffs very strongly work.”

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According to the Associated Press, the Georgia expansion ties into $21 billion in U.S. investments. It includes a $5.8 billion steel mill in Louisiana, which will supply parts for Georgia and Alabama plants.

Hyundai aims to employ 8,500 workers at the Bryan County site. Battery partners are estimated to add 3,500 more jobs. The car company does not have worker estimates for HMGMA’s expansion plans.

Hyundai Motor Group Executive Chairman Euisun Chung said the legacy automaker came to Georgia “to stay, to invest and to grow.”

“Standing here today, I can say I have never been more confident about building the future of mobility with America, in America,” Chung said.

Hyundai started EV production in Georgia six months ago. As of this writing, over 1,200 workers run the massive plant. Hyundai’s Georgia factory builds two electric SUVs now. The IONIQ 5 is already in production. Hyundai will start producing the IONIQ 9 this spring. Hyundai plans to produce hybrids, too. Munoz predicted hybrids would eventually make up one-third of production.

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Tesla China’s first Megapack exports are headed for a big battery in Australia

The Tesla Megapack batteries are bound for Queensland’s Western Downs battery project.

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Credit: Tesla Asia/X

A few days ago, Tesla announced that the first Megapack battery units from its Shanghai “Megafactory” were being shipped to Australia.

As per recent reports, the massive grid-scale Tesla batteries are bound for Queensland’s Western Downs battery project.

The Shanghai Megafactory

The Shanghai Megafactory is Tesla’s first battery storage factory outside the United States. Built close to Gigafactory Shanghai, the Shanghai Megafactory is expected to supply Megapack batteries to both China and foreign markets.

The Megapack represents a huge portion of Tesla Energy’s deployments. With 3.9 MWh of energy, Tesla notes that each Megapack is enough to power 3,600 homes for an hour. The Shanghai Megafactory has a capacity to produce 10,000 Megapacks per year to start. 

Mike Snyder, vice president of Tesla, shared his optimism about the Shanghai Megafactory. “Megafactory gives us the ability to scale production and efficiency. We can lower logistics costs as well as product costs, and grow the business to new markets,” he stated.

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Australia Battery Projects

As noted in a report from Renew Economy, the first Megapack shipments from the Shanghai Megafactory will be installed in the second stage of the Western Downs battery project, which is being built by Neoen. The Western Downs battery project involves a 460 MWp solar farm coupled with a 540 MW/1,080 MWh big battery system.

Tesla has also been listed as the battery supplier for the upcoming Calala battery in Tamworth, New South Wales, which will involve 138 Megapack units. The Megapacks for the Calala battery will likely be imported from the Shanghai Megafactory as well.

Data from Rosetta Analytics suggests that Tesla is currently the dominant player in Australia’s energy storage segment, with the company holding over 30% of the market. Tesla has become a notable presence in Australia’s energy sector for years, especially following the company’s buildout of the Hornsdale “big battery,” which was initially comprised of Tesla Powerpacks, in 2017.

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Tesla vehicles hit by ATV, suspect caught by Sentry Mode

Police used security footage from Tesla Sentry Mode to arrest a suspect who damaged 3 Teslas using a mini ATV.

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Tesla Sentry Mode caught a suspect hitting Tesla cars with an ATV. A Texarkana man sits in jail after allegedly damaging Tesla vehicles with an ATV on Tuesday, March 25.

The Texarkana Texas Police Department (TTPD) arrested 33-year-old Demarqeyun Cox for reportedly damaging three Tesla vehicles. He faces charges of criminal mischief and failure to identify. According to police, surveillance cameras on the first Tesla damaged revealed Cox using a small ATV to smash into it. The suspect allegedly hit two other Teslas as well.

Tesla Sentry Mode played a big role in providing footage for the police and nabbing the suspect. With Tesla attacks on the rise, Sentry Mode will likely become a more useful feature to owners.

Police received two reports of a suspect damaging Teslas. The first report came from Golden Palace on Summerhill Road, where police retrieved footage from a Tesla vehicle, showing a man on a mini four-wheeler ramming it at full speed. After the first report, officers started searching for the suspect. Then another call reported a damaged Tesla at Lowe’s parking lot.

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An officer soon spotted Cox on a mini four-wheeler near Summerhill and New Boston Roads. He matched the man in the video from the Tesla vehicle. Cox gave a fake name at first. However, police were able to correctly identify him and took him into custody.

“In the initial incident, he rammed the car with the four-wheeler, and [in] the two subsequent incidents, he actually used some kind of tool to scratch the word ‘Elon’ into the paint of the vehicles there. He has not told us what his motivation was in doing that is or was,” Shawn Vaughn with TTPD told KSLA local news.

Tesla attacks have grown rampant across the United States as Elon Musk continues to be a divisive figure. People who disagree with Musk’s politics have started vandalizing Tesla vehicles, stores, and Superchargers across the country.

The FBI has created a task force to crack down on the Tesla attacks and labeled them a form of “domestic terrorism.” As of this writing, the Tesla attacks have not resulted in injuries or fatalities.

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