According to documents filed with the U.S. Securities and Exchange Commission, Fisker has received notice from a "major automaker" that negotiations have been terminated. The document provides no further details, except to say that Fisker continues to evaluate strategic alternatives, which could include restructuring, raising additional capital, refinancing debt or some other means of staying afloat.
Although it was never officially confirmed by either party, according to Reuters the "major automaker" that was in talks with Fisker was Nissan. It was previously reported that Nissan was interested in the Fisker Alaska concept as the company seeks to enter the electric pickup truck market. In the case of a partnership, Fisker would have received the financial help it needed to survive. It was supposed to allocate $400 million for the production of the pickup truck. Nissan would, in turn, get its own version of the vehicle.
However, as InsideEVs reported, the benefit to Nissan was much less obvious. Fisker's "light asset-based" business model means it hires outside partners to produce its cars, such as Austrian company Magna Steyr, which makes the Ocean crossover. That vehicle uses the Fisker platform and batteries from China's CATL. So it was harder to see what unique technologies Nissan might have gained from this deal.
Fisker Ocean
A Fisker spokesperson told InsideEVs that the company had no comment on the matter. The company suspended production of new vehicles earlier this month.
After this news, Fisker's future seems even more uncertain. Thomas Hayes, chairman of hedge fund Great Hill Capital told Reuters, the issue of Fisker's bankruptcy is a matter of time. Although it is not known right now how soon it will happen.
Sources: TechCrunch, Reuters, InsideEVs
