"Fisker Halts Production Amid Financial Struggles"

Electric vehicle startup Fisker has announced a six-week pause in production of its Ocean SUV as it grapples with a cash crunch, revealing just $121 million in cash and cash equivalents as of March 15th. The company is facing significant financial challenges, including a high accounts payable balance and doubts about its ability to continue operations without raising new capital. Fisker's rollout of the Ocean SUV has been marred by software issues and customer service problems, with the National Highway Traffic Safety Administration investigating the vehicle for rollaway and braking system issues. The company is in negotiations with an automaker for a potential partnership and investment, while also seeking to raise $150 million through the sale of convertible notes.