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© Fisker
Electronics Production |

Magna cuts jobs as Fisker production halts

Electric vehicle startup Fisker’s manufacturing partner Magna is planning to reduce its workforce after the production of the Fisker Ocean model is halted.

With production suspended for an undetermined period, Magna was forced to conduct significant personnel reductions, reports the Kleine Zeitung.

The company will reduce its workforce by up to 500 positions at its manufacturing operations in Graz, Austria.

This move comes after Magna downsized from a double-shift to a single-shift operation in December of last year.

Fisker, an American-Danish electric car company, arrived at Magna in Graz with high production goals in mind. Fisker projected that their Ocean model would sell 40,000 units annually. Less than 10,000 cars have been produced thus far, according to Austrian broadcaster Österreichischer Rundfunk.


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May 14 2024 7:33 am V22.4.46-1
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