Following a week of bad news for the company that once planned to build electric cars in Lordstown, Fisker Incorporated has announced that it has drastically cut the price on three 2023 models.

Fisker revealed on Wednesday that the manufacturer's suggested retail price of the Ocean Extreme has been reduced from $61,499 to $37,499. 2023. The Fisker Ocean Ultra trim MSRP was reduced from $52,999 to $34,999, and the 2023 Sport trim was cut from $38,999 to $24,999.

The EV startup said the price reductions are to strategically position the Ocean to be a more affordable and compelling EV choice, competitively available to EV buyers.

The price cuts came just two days after trading of Fisker stock was suspended as shares were selling for 9 cents on the New York Stock Exchange.

This was more bad news for the cash-strapped company after being announced earlier in the day that talks with a major automobile provider had broken off for a partnership.

Plans for the company to manufacture a small PEAR electric vehicle at Foxconn’s plant in Lordstown were put on hold as Fisker struggled to survive financially.

Fisker reported a loss of $463.6 million in the final quarter of 2023 primarily attributed to a combination of operating losses and adjustments related to its 2025 notes.

Fisker announced in early March that it had secured $150 million from a current investor. The funding would be provided in four installments, along with certain conditions for financing.