After halting production at its contract manufacturer’s plant in Austria, EV maker Fisker has filed for reorganization and court protection in the country. The company’s Austria entity, primarily focused on managing the contract manufacturing of Fisker’s electric vehicles, has faced operational and financial challenges.
By filing for reorganization, Fisker Austria aims to protect its business while pursuing strategic transactions or asset sales. The entity will continue to pay its employees and sell and service vehicles under court protection, while Fisker’s entities outside Austria are not included in this proceeding.
Fisker is diligently exploring options to maximize the value of its global business, as stated in the filing. Meanwhile, Magna Steyr, the plant’s operator, has announced plans to lay off 500 workers in Graz due to the halted production of models, including the Ocean.
However, other models like the BMW Z4 and Toyota Supra are expected to stop production in 2026, while the plant will continue producing the Mercedes G-Class and an electric version of the vehicle. Roland Prettner, Magna Steyr CEO, expressed that the next three years will be challenging in Graz, according to an Austrian news outlet.