Fisker’s Expected Lifeline From Nissan Falls Through

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Fisker's Expected Lifeline From Nissan Falls Through

Nissan’s recent strategic plans reveal a decision against pursuing a partnership with Fisker Inc., a move that could have provided crucial support to the struggling EV startup. Regulatory documents filed with the U.S. Securities and Exchange Commission disclose that Fisker was informed by a “large automaker,” widely speculated to be Nissan, that negotiations had been halted. While specifics were not provided, Fisker is reportedly exploring various strategies to remain viable, including restructuring, securing additional funding, or refinancing debt, as initially reported by TechCrunch.

Rumors had previously circulated, following a Reuters report, that Nissan was considering a collaboration with Fisker on the Fisker Alaska, an electric pickup truck concept, as part of its efforts to enter the electric truck market. Such a partnership would have not only benefitted Fisker financially, potentially involving an investment exceeding $400 million for manufacturing the truck in the U.S., but would also have allowed Nissan to introduce a version of the vehicle under its brand.

The potential partnership between Nissan and Fisker Inc. raised questions, especially given Fisker’s “asset-light” approach, which involves outsourcing vehicle production to third parties like Magna Steyr in Austria. Magna Steyr manufactures the Ocean crossover, utilizing a Fisker-specific version of its EV platform, while Fisker procures batteries from CATL. This model left many wondering what unique benefits Nissan would gain from the deal.

Fisker declined to comment further on the situation, as reported by InsideEVs. The company paused trading and new vehicle production earlier this month amid the fallout from the terminated negotiations.

Recent times have been challenging for Fisker, marked by delivery issues and notable quality concerns, including negative feedback from a high-profile YouTube review. Despite this, some Ocean owners expressed satisfaction with their vehicles, minor glitches notwithstanding. However, the latest developments cast a shadow over Fisker’s stability, with analysts predicting tough times ahead. Thomas Hayes, Chairman of Great Hill Capital, told Reuters, “I can’t say whether it will be next week or next year, but bankruptcy seems inevitable for Fisker given the current circumstances.”

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