Fisker has paused production of its Ocean electric SUV for six weeks as it seeks to draw down inventory and secure additional financing.
To the funding point, Fisker confirmed Monday that it has secured “a financing commitment from an existing investor” of up to $150 million.
The company has about 4,700 vehicles in inventory worth about $200 million, according to the same company statement. The production pause at contractor Magna’s Graz, Austria, factory is intended to give Fisker time to sell some of these vehicles.
Fisker Ocean
Fisker shipped roughly 5,000 of 10,000 vehicles produced by Magna in 2023, and claimed to have delivered roughly 1,300 in January and February of this year. The company, which has pointed to supplier issues as the reasons for the Ocean’s slow rollout, gave that model’s top trim level a $7,500 price cut in October 2023.
Fisker also said Monday that it had…
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