Fisker’s finances are back in the news after the company warned in February that it didn’t have enough cash to make it through its next year. The company said this week that it intends to halt production for six weeks to get its business back in order.
Fisker is hardly the first electric vehicle company to struggle to stay afloat, but given the issues its cars suffer from, there’s good reason to be skeptical of the company’s product.
Founding a startup, finding product-market fit and scaling a business are hard challenges, and even though the venture-backed startup model has helped create a host of incredibly valuable companies, the reality is that most startups fail. Softening demand growth for EVs is making the normal challenges of scaling a company all the harder for Fisker and its peers. Not that we’re all doom and gloom here at TechCrunch — we’re actually rather bullish on the prospect for EVs in the near and far future.
For Fisker, though, surviving the coming few months is what matters most. Let’s take a look at what’s going on under the hood here: