This titanic of a mess hit an iceberg long ago. It is simply one of the most poorly managed and underperforming enterprises in the automotive fintech industry. The captain at the helm and his Chief Counsel are working to fold the company while avoiding any litigious ramifications. They and the EM staff tell us at "huddles" that tkeep telling us that operations are full speed ahead -- but it's evidently clear that the executive team is preparing their own lifeboats while concealing the company's lack of seaworthiness to the board of directors, dealerships, lenders, OEMs and customers.
The CEO stands at the bow of the HMS AutoGravity, his arms spread, exclaiming "I'm king of the world." But basically, he's just helping the ship sink gracefully and unnoticed to the the press; The nickname he has gained over the course of his career is the "The executioner" (seriously, and he has taken opportunities to tout his reputation); he not only has a track record of cutting workforce from companies, but he has a knack for making entire underperforming companies disappear. That's his job here.
Company investors VW and Diamler need to see their millions of investment money appear well spent. So AutoGravity needs to maintain the appearance of "business as usual" long enough until it sinks unnoticed into the graveyard of failed dot-coms. Pets.com, meet AutoGravity.