Nissan in Advanced Talks to Invest in Fisker Inc, Boosting Electric Pickup Market
Japanese automaker Nissan Motor Co Ltd is reportedly in advanced discussions to invest in California-based electric vehicle (EV) manufacturer Fisker Inc.
According to Reuters, Nissan is discussing investing over $400 million in Fisker’s truck platform and manufacturing Fisker’s proposed Alaska pickup from 2026 at one of its U.S. assembly plants. Additionally, Nissan would develop its own electric pickup on the same platform as part of the deal.
The potential investment comes at a critical time for Fisker, which recently announced that it might not be able to continue as a going concern. The partnership with Nissan could provide a much-needed financial boost to Fisker and help Nissan enter the growing U.S. electric pickup market.
The deal, which could be finalized this month, would mark a significant step for both companies. Fisker has been grappling with financial difficulties and recently announced plans to lay off 15% of its workforce due to concerns about its ability to operate over the next 12 months.
On the other hand, Nissan has been looking to expand its electric vehicle offerings and enter new markets. A partnership with Fisker could help accelerate its plans for electric pickups and strengthen its position in the EV market.
Fisker reported preliminary fourth-quarter revenue of $200.1 million, an increase of $128.3 million from the prior year’s quarter, and a preliminary net loss of $1.23 per share. The company ended 2023 with $396 million in cash, but $70 million is restricted.
Fisker shares closed down 34% at $0.48 on Friday following news of the potential investment from Nissan.
Overall, the partnership between Nissan and Fisker could have a significant impact on the electric vehicle market, particularly in the U.S. where demand for electric pickups is on the rise. It remains to be seen how the deal will unfold and what it means for both companies moving forward.
