Struggling electric vehicle startup Fisker announced today it would pause production of its electric vehicles for six weeks to align inventory levels and progress strategic and financing initiatives.
The company said that it delivered 1,300 vehicles since the start of 2024. Its manufacturing partner Magna produced 1,000 through March 15.
Fisker has approximately 4,700 vehicles in its currently inventory, carried over from 2023 and including 2024 production.
The EV maker has also announced a financing commitment from an existing investor providing up to $150 million of gross proceeds. The financing is being provided by the holder of the company’s 2025-dated convertible notes and will be organized in four tranches.
Fisker reiterated on Monday that it was in talks with a large automaker for a potential transaction which could include an investment in Fisker, joint development of one or more electric vehicle platforms, and North America manufacturing.
