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Fisker pauses production with just $121 million in the bank
FSRFisker (FSR) TechCrunch·2024-03-18 21:36

EV startup Fisker is pausing production of its electric Ocean SUV for six weeks as it scrambles for a cash infusion.The company said in a Monday morning regulatory filing that it had just 121millionincashandcashequivalentsasofMarch15th,121 million in cash and cash equivalents as of March 15th, 32 million of which is restricted or not immediately accessible. Fisker also said Monday that its accounts payable balance is up to $182 million and that there is “substantial doubt” that it can continue operations without raising new capital, after saying in Feb ...