Electric vehicle maker Fisker is closing its Manhattan Beach, CA headquarters and has begun telling workers there that they would be transferred to the company’s site in La Palma, CA, reports Yahoo!

But the news may a harbinger of worse things to come as the EV market faces a slowdown in sales. 

"The carmaker has warned multiple times over the past few months that it could run out of money and file for bankruptcy within the year. On April 23, Fisker said in a regulatory filing with the Securities and Exchange Commission that it had just $54 million in cash equivalencies as of April 16 and "believes that its available liquidity will not be sufficient to meet its current obligations,” reports the publication. 

"The company has initiated a series of layoffs over the past few months and warned workers on April 29 that they could be laid off and Fisker's "facility will close" in two months if the automaker is not able to change its course,” according to the article.