Fisker pauses production, considers bankruptcy protection amid challenges

Pausing production of its sole model, the Ocean crossover, Fisker aims to conserve cash while seeking new funding, with a six-week pause to “align” inventory levels. 1,300 Oceans have been delivered in 2024, and 4,700 are currently in inventory, built by Magna Steyr in Austria.

To raise up to $150 million, Fisker plans to sell convertible notes to an existing investor, while continuing discussions with a “large automaker” for potential investment, joint development of EV platforms, and North American production collaboration. Reuters reported earlier that Nissan could be the automaker in talks with Fisker, exploring collaboration on an electric truck platform.

Previously showcased as the Alaska concept, Fisker’s electric truck is now named Kayak, with potential plans for collaboration with Nissan on production starting around 2026 in the U.S. Nissan recently announced its intent to explore EV and software development partnerships with Honda.

Facing financial challenges, Fisker disclosed missed payments, stressing the need for funding to avoid bankruptcy. It plans the Pear and Ronin models alongside the Ocean and Kayak.

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