In the competitive world of electric vehicles, securing funds can make all the difference. Fisker Inc. has successfully managed to do just that. The EV startup recently announced it raised a whopping $150 million from a returning institutional investor.
And that’s not all: there’s an extra $550 million in potential funding on the table, according to a statement they released on Friday.
The EV company expects to use the proceeds to “accelerate deliveries, expand growth, and expedite the company’s vehicle programs,” ramp up deliveries, and they seem to be on track.
It’s worth noting that this recent financial boost isn’t the company’s first rodeo. Back in July, the same unnamed investor pitched in with a generous “$340 million in July” through another convertible notes offering.
However, it’s not all sunshine for Fisker. Despite the promising news, their shares experienced a slight dip, dropping 2.3% in premarket trading. The road ahead for the EV market remains thrilling, and with Fisker’s recent funding, they’re gearing up to be a part of it.