Ocean production on hold as Fisker tries to raise cash
FISKER HAS PAUSED production of its Ocean SUV for six weeks as the EV brand looks to secure vital financial backing amid doubts over its ability to continue operating.
The move came as the American firm announced an injection of $150 million (£119m) from an unnamed existing investor.
The money will be provided in the form of convertible notes, which are subject to interest on repayment, and is “subject to certain conditions”, including Fisker filing a full financial report for the 2023 financial year.
Fisker said it remains in talks with a “large auto maker” about a financial deal, which could take the form of pure investment, strategic development or a production partnership.
It hasn’t named the firm, but Nissan is widely reported to be in talks regarding a potential $400m (£318m) investment into Fisker.
It is understood that as part of this deal, Nissan would have access to the platform that underpins the Fisker Alaska and would build the compact pick-up alongside its own related truck in North America.
While these talks continue, Fisker’s contract manufacturer, Magna Steyr, will pause Ocean production at its factory in Graz, Austria, for six weeks to “align inventory levels and progress strategic and financing initiatives”.
Development of all future cars – including the already unveiled Pear supermini and Ronin GT – has been put on ice.
Magna Steyr produced 10,193 Oceans in 2023, of which Fisker delivered 4929 across 12 countries. It expects to deliver between 20,000 and 22,000 in 2024. It sold 144 in the UK in January.