Fisker Inc (NYSE:FSR), the embattled electric vehicle maker, soared 31% after it broke its silence surrounding reports it is nearing bankruptcy.
The group is focused on developing a “strategic partnership with a large automaker” and raising additional capital, it said in a statement.
Fisker has also been working with outside advisors on the future of the business and potential strategies.
The US firm said: “The company is also continuing to pursue its shift to a dealer partnership model in both North America and Europe. The leadership team is laser-focused on these efforts.”
Employees were also called to a company-wide meeting, where boss and founder Henrik Fisker told workers to remain focused on serving customers and to drown out any media noise, according to social media reports.
It comes days after the electric vehicle company sunk by 40% as reports revealed it had hired advisors to prepare a bankruptcy filing.
Fisker recently warned investors it could run out of cash by the end of the year, with its most recent financial report revealing debts of over US$1 billion against full-year sales of US$273 million.
Last month, Fisker said it spoke with investors about raising additional funds and opened talks with new potential manufacturing partners in the US.