‘Substantial doubt’ as to whether it can survive
By 
A struggling electric vehicle (EV) manufacturer is temporarily suspending production as it appears to be preparing for a potential bankruptcy.
Fisker Automotive announced Monday that it is pausing production for six weeks “to align inventory levels and progress strategic and financing initiatives.” The company hired advisers last week to help prepare for a potential bankruptcy, according to the Wall Street Journal.
The company warned in February that it is at risk of running out of money this year and that there was “substantial doubt” as to whether it would be able to survive, according to the WSJ. Fisker also reported in February that it conducted $273 million in sales while holding about $1 billion in debt.
The company also announced Monday that it had arranged $150 million in financing through a transaction with an investor.
Fisker filed for bankruptcy in 2013 despite benefitting from a $192 million loan guarantee from the Obama administration, and a Chinese manufacturing group purchased the firm in 2014. The company’s EVs range in price from about $30,000 to as high as $385,000, according to its website.