EV startup Fisker to pause production for six weeks, raises funds (updated)
18/03/2024 12:01
(Adds details on production and background throughout)
March 18 (Reuters) - Fisker FSR.N said on Monday it
will pause production of its electric vehicles for six weeks,
adding that the company has entered into a financing commitment
with an investor to sell up to $166.7 million in senior secured
convertible notes.
The EV startup added that none of its Ocean SUVs were
produced in January and its manufacturing partner Magna made
about 1,000 vehicles between Feb. 1 and March 15.
Fisker has hired restructuring advisers to assist with a
possible bankruptcy filing, the Wall Street Journal reported
last week, citing people familiar with the matter.
(Reporting by Akash Sriram in Bengaluru; Editing by Shounak
Dasgupta)
((Akash.Sriram@thomsonreuters.com; On X as @HoodieOnVeshti;
+91-74116-87774))