Struggling Fisker Could Get a $400 Million Lifeline from Nissan
Things looked promising for Fisker at first, and the automaker actually delivered on its promise to design and manufacture a new EV. Even so, the automotive market is brutal and unforgiving, and Fisker’s fortunes have turned as it has had an uphill battle getting its new Ocean SUV out the door. The company recently announced a layoff of 15 percent of its workforce and said it would pause investments until it could find a new partner.
It now appears that help could come from Nissan, who, according to Reuters, might be close to investing $400 million into the struggling EV maker.
Sources told the publication that Nissan’s investment would give it access to Fisker’s EV technologies, including its platform engineering and technology. In turn, Nissan would build Fisker’s already-announced Alaska electric pickup truck. The automaker would also build a Nissan-branded pickup on the same platform.
Fisker has always been chasing manufacturing partners, eventually landing on Magna to build the Ocean. While its technology would certainly help Nissan – which has been slow on the draw with EVs and has had its ups and downs, with the Ariya EV seeing a significant delay.
This deal could be the lifeline Fisker needs to pull through the storm, but it doesn’t bode well for other upstart electric automakers. The complexities and extreme costs involved with spinning up a new auto brand and models are hurdles to cross, but companies then have to contend with wavering demand in the United States, which may take other new automakers down a few pegs if things don’t pick up this year.
[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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NIssan used to be a great brand with a similar reputation to Honda or Toyota - better at times with specific products. Now and with much thanks to outlets such as TTAC they are beneath Hyundai, Kia or Genesis.
But who will save Nissan?