Fisker pauses production with just $121 million in the bank

EV startup Fisker is pausing production of its electric Ocean SUV for six weeks as it scrambles for a cash infusion.The company said in a Monday morning regulatory filing that it had just $121 million in cash and cash equivalents as of March 15th, $32 million of which is restricted or not immediately accessible. Fisker also said Monday that its accounts payable balance is up to $182 million and that there is “substantial doubt” that it can continue operations without raising new capital, after saying in Feb ...