The Fisker-Nissan Deal is Reportedly Dead
Fisker has been on thin ice for a while now, but one of its most promising lifelines has fallen through. Reuters reported that Fisker was unable to reach an agreement with Nissan and other potential investors, including up to five large automakers.
Nissan was reportedly considering a $400 million investment, which would’ve given it access to Fisker’s electric Alaska pickup truck. The Japanese automaker has now backed out of talks, leaving Fisker to fend for itself or find another suitor.
The company’s stock was temporarily suspended, but now, the New York Stock Exchange is delisting the stock. Though Fisker said it “continues to evaluate strategic alternatives,” it’s unclear which automaker could step into the void.
Fisker has announced a few vehicles, but only the Ocean crossover has landed as of now. The Alaska, which piqued Nissan’s interest, was announced last year with 340 miles of range and a reported $45,000 price tag. If Fisker goes under, it will be a shame if the truck doesn’t make it to market because it has some legitimately impressive features and design work.
This is certainly a setback for Fisker, but the show isn’t over yet. The automaker recently lowered the price of the Ocean in hopes of sparking interest, but shaky customer and media reviews haven’t been kind to sales. YouTuber Marquis Brownless called it the “worst car I’ve ever reviewed,” though his more recent VinFast VF8 review was equally as dark.
[Image: Fisker]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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A wise man once said, tis easier to let a bankruptcy happen and pick up the scraps you want for cheap than to save a sinking ship.
Where is the value here? Magna is assembling the vehicles. The IP is not novel. Just buy the IP at bankruptcy stage for next to nothing.
"better than Vinfast" is a pretty low bar.
Fisker is another brand that Heir Yutz has killed.