‘Frustrated Fisker halts car production for six weeks’

Fisker will halt production of its car for six weeks, Bloomberg reports. An electric car manufacturer does this to reduce its inventory and thus avoid bankruptcy. Fisker also plans to raise up to $150 million through a fourth-tranche financing arrangement with an existing lender. The company did not name the plaintiff.

Payment obligations

The lender warned that Fisker could default on its payment obligations. According to the lender, Fisker “may be forced to seek protection under applicable bankruptcy laws.”

A request filed by the regulator shows that Fisker did not make an 8.4 million euro interest payment on convertible bonds last week. It was previously reported that Fisker will have incurred a loss of more than $761 million in 2023.

The company says it has about 4,700 vehicles in inventory valued at more than $200 million. In 2024, the company says it has delivered 1,300 vehicles so far.

Fisker’s strategy was recently discussed in the AM Mobtalk podcast by Thijs Bochane (minute 18). Listen to the Podcast below (or in your favorite podcast player).

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Also see YouTube-video they are going to podcast.