Fisker said it currently does not have enough money to continue operations for the next 12 months. But not all hope is lost. The company said it is in talks with a "major automaker" that could attract additional investment, opportunities for joint vehicle development and manufacturing in North America.
Fisker did not specify which automaker it is in talks with. Judging by the electric brand's statement, the potential partner has a production facility in North America. However, such a partnership is far from becoming a reality.
"The company will need to seek additional equity or debt financing, and there can be no assurance that Fisker will be successful in these efforts," Fisker said in its 2023 financial report.
CEO Henrik Fisker said closing any transaction with a potential investor would be subject to the fulfilment of a number of conditions, including the completion of due diligence, negotiation and execution of related definitive agreements.
Fisker Ocean
Amid multimillion-dollar losses and a bleak outlook for the future, Fisker is cutting costs by reducing its workforce by 15 per cent. Most of those people will be involved in sales strategy as the company shifts from direct sales, like Tesla, to a dealer model, like most traditional automakers.
Fisker currently has 13 locations and has signed on 13 dealer partners in North America and Europe. The company says it has more than 250 expressions of interest for additional dealerships in the two regions. The US automaker plans to deliver between 20,000 and 22,000 Ocean electric SUVs globally in 2024.
The Fisker Ocean is manufactured at the Magna-Steyr facility in Austria. The company produced 10,193 in 2023, but delivered only 4,929 to customers.
Source: Wall Street Journal
