The remarkable payout follows an equally remarkable ride for Tesla, whose shares have more than quadrupled this year and ballooned Musk’s net worth to $70.5 billion.
The alliance combines the sector’s most-popular plug-in model -- the Tesla Model 3 -- with low-cost batteries in a market that last year bought more than three electric vehicles for every one sold in the U.S.
The proceeds are expected to be used to bring the company's first product, the Fisker Ocean, to production in late 2022.
Labor representatives said discussions over job cuts had become "rougher" as the automaker struggles with weaker sales and higher investments.
Christian Senger will be replaced after clashes with the company and concerns about software problems with the ID3 full-electric compact and the eighth-generation of the Golf, German newspaper Handelsblatt reported.
