Bankrupt California EV maker selling cars for enormous discounts

A EV maker once worth $8 billion has been granted the ability to sell their cars at a massive discount as they're desperate to raise cash.

Fisker is the second automaker by famed car designer Henrik Fisker to file for bankruptcy protection. after attempts to find a buyer failed.

The CEO and his wife each voluntarily reduced their salaries to cut costs, with Henrik dropping his wage to just $1 from $62,400 plus a bonus of $710,000. The company's stock price has dropped 85 percent in the past month alone.

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