Fisker Secures $700M in New Funding to Ramp Up Electric SUV Production

Fisker Inc raises $150 million from existing institutional investor through convertible bonds
Additional $550 million in funding available for the electric vehicle startup
Proceeds to be used to ramp up deliveries of Fisker's Ocean SUV
Follows previously announced $340 million convertible notes offering to same investor in July
Fisker reiterating plan to increase Ocean SUV deliveries to 300 units per day later this year

reuters.com

Relevant topic timeline:

8/24/2023

Force E Pack Lifts The Fisker Ocean, Gives It Armor And 33s

Fisker has introduced the Ocean Force E, an upgraded version of its electric SUV that comes with rugged features like 33-inch tires, skid plates, and specialized dampers, making it suitable for off-roading.

8/28/2023

Fisker Launches in Three New European Markets: Belgium, the Netherlands, and Switzerland

Fisker Inc. has expanded its presence in Europe by launching in Belgium, the Netherlands, and Switzerland, allowing customers in these countries to reserve and order the Fisker Ocean electric vehicle with deliveries planned for the end of September.

8/28/2023

EV Start-up Fisker Expands Deliveries to 3 New Countries. The Stock Is Rising.

EV start-up Fisker is expanding deliveries of its Ocean SUV into more countries, resulting in a rise in the company's stock.

8/29/2023

Fisker Updates Strategy for Canada Market – Fisker Ocean One Deliveries to Complete by End of September

Fisker Inc. plans to complete homologation of its all-electric SUV, the Fisker Ocean, in Canada by September 7th and expects to finalize most vehicle deliveries by the end of September, with retail and service locations to be established in Vancouver and Toronto.

9/7/2023

Fisker Races to Ramp Up Ocean SUV Output After Falling Far Short of 2022 Targets

Fisker Inc. plans to increase production of its Ocean SUV in the US and overseas, but questions remain as to whether the automaker can meet its revised 2023 production guidance.

9/19/2023

NIO Offers $1 Billion in Convertible Bonds as EV Makers Seek New Funds

Chinese EV maker NIO is planning to raise $1 billion through the issuance of convertible bonds, following in the footsteps of other electric vehicle companies such as Nikola and Fisker.

9/26/2023

Fisker Stock Rises as EV Startup Nears Ocean SUV Delivery

Electric-vehicle start-up Fisker is expected to meet its delivery guidance for the year.

9/26/2023

Fisker Ramps Up Ocean EV Production to Meet Strong Demand

Fisker has reached a production milestone of 5,000 Ocean electric SUVs, with plans to increase daily deliveries to 300 vehicles to meet high demand for the electric SUV.

9/29/2023

Fisker Raises Additional Capital Ahead of Electric SUV Production Start

Electric vehicle start-up Fisker is raising more capital, causing the stock to rise.

10/23/2023

Fisker Lowers Price of Ocean SUV Trim, But Raises Prices on Other 2024 Models

Fisker lowers the price of its top-tier Ocean Extreme trim by $7,500, but prices for other models will increase when the 2024 models go on sale next month.

10/23/2023

Fisker Cuts Prices on High-End Ocean SUV Amid Slowing EV Demand, Raises Prices on Lower Models

Fisker cuts prices on its high-end Ocean Extreme SUV in response to a slowdown in electric-vehicle demand and competition from Tesla, while also raising prices on its lower-priced variants.