Electric-vehicle startup Fisker said it will suspend production for six weeks while it raises $150 million to shore up its finances.
It said the funds have been committed by the holder of its 2025 convertible notes and are subject to regulatory conditions.
Meanwhile, Fisker said it’s negotiating a transaction with a major automaker that it didn’t name to invest in Fisker, in addition to joint development of at least one EV platform, plus North American manufacturing.
News reports indicate Fisker missed paying debt interest this week.
The company, in announcing its plans to stabilize finances, touted its standing in the EV manufacturing space, saying its U.S. EV registrations are in the top 15 among automakers selling here.
