Home News Fisker plans to raise US$150 million to speed up delivery

Fisker plans to raise US$150 million to speed up delivery

Fisker plans to raise US$150 million to speed up delivery

The electric car manufacturer announced on Friday that it plans to raise US$150 million (currently about RMB 1.095 billion) from existing institutional investors through the issuance of convertible bonds to help the company speed up the delivery of new cars.

Fisker announced earlier this month that it plans to reach 300 Ocean deliveries per day later this year.

Before the official announcement of this financing plan, Fisker revealed that the company had produced 5,000 electric vehicles since production began in November 2022.

Currently, the Fisker brand only has one model, the Ocean. The car will make its debut at the 2021 Los Angeles Auto Show, with a US market price range of US$37,499~$68,999 (currently approximately RMB 274,000~504,000). Its Extreme model has an EPA-rated range of up to 360 miles (579 kilometers) on a single charge. According to Reuters, CATL will supply two different power batteries for the Ocean model from 2023 to 2025.

This year, Fisker has unveiled many new vehicles, including pickup trucks, supercars and other models, which are expected to be put into production in 2024-2025.

Fisker, founder, chairman and CEO of Fisker, led his senior management team to China in June this year and visited Shanghai Lingang Group. Daniel Foa, a Chinese board member of the Fisker brand, told China Business News that the brand’s first delivery center is expected to open in Shanghai.

Daniel said that the first delivery centre will be opened within the year and the first mass-produced model, the pure electric SUV Fisker Ocean, will be delivered in the first quarter of 2024. However, when asked what sales channel model it would adopt at that time, Daniel responded as follows: “Fisker uses a direct sales model in Europe and the United States, but it is temporarily unavailable to comment on the sales model in the Chinese market.”

According to reports, Fisker chose to enter the Chinese market based on three aspects: first, the Chinese electric vehicle market has a huge space; second, the Chinese automobile market has a trend of high-end and affordable luxury models growing faster than ordinary models; third, Chinese users have a strong interest in traditional electric vehicles. International automobile brands have high acceptance, and government policies and consumer behaviour are rapidly shifting towards electrification.