EV startup Fisker slides as cash dwindles with 'difficult year' ahead
The Star Online - Tech·2024-03-01 19:03
(Reuters) - Fisker shares skid nearly 40% on Friday after the electric-vehicle startup flagged going-concern risks, saying it would cut its workforce by 15% and pause investments in future projects until it secures a partnership with a manufacturer.
The company warned of a "difficult year" ahead, the latest sign of growing pain in the EV sector after weak production forecasts from Rivian and Lucid.
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