Four Firms Remain Keen on Rescuing Fisker, Despite Uncertain Future

Is There a Ray of Hope?

Fisker has experienced a turbulent period recently, to say the least. Following the announcement that it would require a collaboration with another car manufacturer to avoid bankruptcy, negotiations with Nissan broke down. Subsequently, Fisker rapidly reduced prices on existing inventory for a model of the Ocean SUV that might not even be in production yet. However, there remains a faint glimmer of optimism.

According to Business Insider, CEO Henrik Fisker recently held a company-wide meeting where he informed employees that four automakers are still interested in potentially investing in the company. “We do have four car companies that have signed NDAs,” Fisker disclosed to his employees. “However, they obviously need time to conduct their due diligence.”

Fisker did not disclose a timeline or any details about potential interested parties. It is highly unlikely that Nissan will be one of them, as negotiations collapsed after a reported $400 million agreement that would have initiated the production of the Alaska pickup truck and a distinct electric pickup for Nissan.

If Fisker fails to reach an agreement with any of these four automakers in the next 30 days, bankruptcy may be unavoidable. With only $54 million in cash equivalents, the company has stated that this amount will “not be sufficient to meet its current obligations.” This development follows a period during which the company distributed hundreds of cars but struggled to recover millions of dollars in payments.

In the coming weeks, it remains to be seen whether Fisker will succeed in securing a deal to remain operational, or if bankruptcy looms on the horizon.

Source: Business Insider