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Fisker secures $150M from existing investor with potential for additional $550M
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American electric vehicle startup, Fisker Inc. (NYSE:FSR), revealed Friday that the automaker has secured $150 million in funding from an existing investor through the issue of convertible bonds. They also announced an additional $550M in funding available.
Fisker expects to utilize the funds to ramp up its delivery capabilities.
The EV maker recently reaffirmed its intention to escalate the daily production of its flagship Ocean sports utility vehicle to 300 units by the end of this year. This fresh investment comes after a previously disclosed convertible notes offering of $340 million to an undisclosed investor in July.
Shares of FSR are up 2.94% in early trading Friday morning.
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