I’ve had a bad-temperpedic mattress, but not really an emotional car.

EV Startup Fisker Halts Production To Raise Emergency Funds Amid Cash Crunch From Low Demand
Daily Wire | Mar 20, 2024 | Ryan Saavedra

The startup electric car company Fisker said this week that it is halting the production of its vehicles to raise $150 million in emergency funds as it grapples with a cash crunch spurred by a low demand for electric vehicles.

The California-based company, which says its mission is to “create the world’s most emotional and sustainable electric vehicles,” has barely produced over a thousand electric vehicles worldwide for the year.

People who buy cars are just looking for a good time, not an attachment.

“The company has approximately 4,700 vehicles in its currently inventory, carried over from 2023 and including 2024 production,” the company said. “While it has not completed an NRV analysis for 2024, Fisker believes the completed vehicle value for its inventory as of March 15, 2024, is in excess of $200 million.”

Not if no one buys them.

“Fisker will pause production for six weeks starting the week of March 18, 2024, to align inventory levels and progress strategic and financing initiatives,” it added.

And to, you know, stop creating inventory backlog and stuff. Or is that bean-counter thinking?

Reuters reported last month that signals from the car company indicated that there was “substantial doubt about its ability to continue” due to the financial health of the company.

The financial health of the company is causing doubts about the financial health of the company? Genius analysis.