Fisker Clarifies No Banking Relationship with Silicon Valley Bank.
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Fisker Clarifies No Banking Relationship with Silicon Valley Bank.

Fisker confirms strategic financial partnership with JPMorgan Chase NA for retail financing in the US and treasury management globally.

Fisker, the American electric vehicle manufacturer, has confirmed its global banking and treasury management relationship with JPMorgan Chase NA. This partnership, according to Chairman and CEO Henrik Fisker, provides the company with strategic financial strength as it prepares to launch its first vehicle, the Ocean.

Fisker has been receiving media inquiries about its banking relationships amid turmoil in the banking sector. The company considers it important to remind stakeholders of its relationship with JPMorgan Chase NA, which also provides retail financing to its customers in the US through Fisker Finance.

However, Fisker has no relationship with Silicon Valley Bank (SVB), the startup-focused lender that the FDIC recently placed in receivership. The CEO clarified that Santander is Fisker’s main financing partner in Europe, providing retail financing to customers in the region.

The confirmation of Fisker’s relationship with JPMorgan Chase NA comes as the company prepares to launch the Ocean, its first electric SUV. Ocean is set to compete with other electric SUVs, such as the Tesla Model Y and the Ford Mustang Mach-E.

Fisker’s partnership with JPMorgan Chase NA is seen as a strategic move, especially in the current climate of uncertainty in the banking sector. With JPMorgan Chase NA’s support, The company is expected to have the financial backing it needs to successfully launch its new electric vehicle.

Also Read: Volkswagen unveils the ID.2all concept car with range of up to 450 km and priced.

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