03/19/2024

Fisker Suspends its EV Production

It’s pausing production for six weeks on the heels of its Ocean SUV release

Following recent reports that Fisker has been preparing for a possible bankruptcy filing, today the embattled automaker announced that it is suspending all manufacture of its electric vehicles.

"Fisker will pause production for six weeks starting the week of March 18, 2024, to align inventory levels and progress strategic and financing initiatives," the company said in a statement.

Fisker further said that it has secured a financing commitment from an existing investor of “up to $150 million.” The money would be organized in four tranches, but is by no means guaranteed; Fisker said it is subject to “certain conditions,” including the filing of the company's 2023 Form 10-K, a comprehensive report filed annually by public companies about their financial performance.

Please select this link to read the complete article from WIRED.