Fisker CEO Defends Twitter Exit After Musk Takeover: Here's What He Has To Say

Fisker Inc FSR CEO Henrik Fisker on Tuesday defended his exiting from Twitter Inc TWTR just hours after Tesla Inc TSLA CEO Elon Musk sealed a $44 billion deal to take the microblogging site private. 

What Happened: Fisker, who had a fallout with Musk several years ago, said he was a strong advocate of free speech but does not want his to be “actively managed or controlled by a competitor."

“And I do not want a competitor to determine how my followers experience Fisker as we grow our company,” Fisker wrote on Meta Platform Inc’s FB Instagram.

Fisker’s account went dark from Twitter shortly after the deal announcement. The 58-year-old Fisker sent out a final tweet to his 86,000 followers to look for him on Instagram for future updates. He remains active on Microsoft Corporation MSFT-owned professional networking site LinkedIn.

Fisker's namesake startup, however, continues to post updates on Twitter through a verified handle.

“The extreme antibody reaction from those who fear free speech says it all,” Musk posted on Tuesday to the public outcry over his mega acquisition of Twitter.

See Also: Elon Musk Tries To Explain His Approach To Twitter Moderation

Why It Matters: Fisker competes with Tesla — a company that once employed the former's CEO and even sued him over design secrets.

Fisker left Tesla shortly after joining the company in 2007 to help with the early design of the Model S. 

The automotive designer revealed plans to develop the Karma hybrid sports car shortly after his departure, which led to a lawsuit from Tesla claiming he stole confidential information. Fisker later won the case in arbitration.

See Also: Fisker Looks To Ramp Up Ocean SUV Production On 'High Priority:' Here's What You Need To Know

Fisker aims to bring four electric vehicles to the market by 2025.

Price Action: Fisker closed 4.3% lower at $10.5 a share on Tuesday.

Photo courtesy: Fisker Inc