Nissan has been revealed because the potential savior of Fisker. The Japanese automaker is reportedly speaking with Fisker to put money into the corporate and companion on electrical pickup vehicles.
Earlier in the present day, we reported on Fisker’s disastrous fourth-quarter outcomes displaying that the electrical automobile startup misplaced $400 million in 2023 and it now has lower than $400 million of money on arms.
The automaker needed to admit that it wouldn’t have the ability to proceed operations previous subsequent 12 months with no massive money injection.
It did reveal that it was speaking to a “giant automaker” about an funding that might save the corporate.
Now, Reuters reported that the automaker in query is Nissan:
Nissan is in superior talks to put money into electrical automobile maker Fisker (FSR.N), in a deal that might present the Japanese automaker with entry to an electrical pickup truck whereas giving the struggling startup a monetary lifeline, based on two folks accustomed to the negotiations.
The deal would reportedly contain Nissan investing $400 million in Fisker. It could additionally contain Nissan constructing the Alaska pickup truck unveiled by Fisker final 12 months at considered one of its US vegetation.
On prime of it, Nissan may use the Alaska platform to construct its personal electrical pickup truck.
Neither Nissan nor Fisker commented on the report.
Fisker’s inventory dropped by greater than 50% in the present day after the discharge of its earnings, however the inventory recovered a bit after the report that Nissan is contemplating investing.
The inventory at present trades at a valuation of $295 million.
Electrek’s Take
I’m undecided what to consider it. I’ve by no means been a giant fan of Fisker, and I’ve warned folks about investing within the firm earlier than.
If the report is true, I don’t know what Nissan sees on this. If they’re behind on growing electrical pickup vehicles, it could be price it for them, however I feel that any important funding can be a takeover the corporate.
It’s now price lower than $300 million and that could be a horny funding as an organization that had $200 million in income final quarter within the rising EV market, however the appears to be like are deceiving.
As I’ve highlighted earlier than, Fisker was determined in its earlier fundraising efforts and took massive convertible notes, which now add as much as $1.2 billion, based on its final SEC submitting.
At present, there’s simply no manner Fisker can handle to pay that again and due to this fact, they may convert to inventory and drastically dilute it for present shareholders.
So I don’t see final result right here apart from Nissan choosing the entire firm up for affordable and accelerating its EV applications with it.
What do you assume? Tell us within the remark part under.
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