Fisker has paused manufacturing of its sole mannequin, the Ocean crossover, because it seeks to preserve money whereas trying to find new funding.

The electrical car startup on Monday mentioned the pause in manufacturing will final six weeks and also will assist “align” stock ranges. The corporate mentioned it has delivered 1,300 Oceans up to now in 2024 and has 4,700 of the crossovers in its present stock. The Ocean is constructed by contract producer Magna Steyr at a plant in Austria.

In the identical announcement, Fisker mentioned it should elevate as much as $150 million in funding by promoting debt devices, on this case convertible notes, to an present investor. The corporate additionally mentioned it is persevering with to speak with a “giant automaker” a couple of potential funding in Fisker, joint improvement of a number of EV platforms, and joint manufacturing in North America.

Citing folks conversant in the matter, Reuters reported earlier this month that the big automaker in talks with Fisker is Nissan. In accordance with the sources, Nissan may faucet Fisker for a platform for an electrical truck, and construct each its truck plus a truck for Fisker at a plant within the U.S., beginning round 2026. Fisker previewed its personal electrical truck final yr with the Alaska idea. The corporate not too long ago modified the title for the deliberate manufacturing mannequin to Kayak.

Fisker Alaska electrical truck idea

Nissan final week introduced it should look to guage a partnership with Honda within the space of EVs and software program improvement.

Fisker on Monday additionally mentioned in a regulatory submitting that it missed an curiosity cost of about $8.4 million final week on its present convertible notes, and would make the most of a 30-day grace interval to make the cost. The corporate additionally warned in regards to the want for “important extra funding” within the close to time period to proceed its operations and that with out the required capital, may have to hunt chapter safety.

Past the Ocean and Kayak, Fisker additionally has plans for an inexpensive crossover known as the Pear and a high-end convertible known as the Ronin. Ideas for each fashions have been proven final August along with the Alaska truck idea.