Fisker scales back production to divert cash for working capital
- Location: 27030, Masaki-chō, Appenzell Innerrhoden, Iceland
Shares of the EV maker, which has been struggling with a cash crunch, rose 7% in premarket.
"Fisker has made a strategic decision to reduce December production to prioritize liquidity to unlock over $300 million of working capital," the company said.
Fisker cut its production target for the year - at least a second time - to just over 10,000 units, compared with its earlier forecast of 13,000 to 17,000.
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