Both automakers stand to benefit from the deal and without it Fisker may not last much longer
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Nissan and Fisker could be about to enter into a new partnership that would enrich them both. For Nissan, it could be a big boom to its efforts to electrify its lineup. For Fisker, it could mean a brand-saving financial lifeline.
Over a decade ago, Nissan was a leader in the EV charge but since then it’s struggled to keep up with the rest of the industry. In February it acknowledged the need to change up its strategy in the US and include more electrified vehicles in its lineup. A partnership with Fisker, a brand that hopes to produce some 20,000 electric SUVs this year, could go a long way toward Nissan’s long-term plans.
On the other hand, Fisker needs cash more than just about anything. It recently slashed its workforce by 15% and reported a $463 million loss during Q4 of 2023. In fact, it went as far as to say that its current resources are “insufficient to satisfy its requirements over the next 12 months.” As of this writing, Fisker’s share price on the NYSE is just 0.46 cents and it’s at risk of getting de-listed.
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A report from Reuters citing unnamed sources close to the matter says that a deal between the two could happen very soon. In fact, one source said that it’s already in the due diligence phase. According to the report, Nissan would invest over $400 million in Fisker’s truck platform and in turn, get to build its own electric truck on the same foundation.
Nissan could potentially leverage that technology at either of its production facilities in Tennessee or Mississippi. It’s possible too that it would simply have Fisker’s partner, Magna Steyr, make the trucks but tariffs and tax incentives might play a role in that decision. Either way, Nissan knows that it needs to boost EV production and a new electric pickup could help.
Fisker said recently that it had narrowed a list of potential partners down to one and that it wouldn’t invest in additional projects until it had secured a partnership. This potential deal might explain both statements and help both brands at the same time.
