Photo by John Cameron on Unsplash
Fisker and Nissan’s Possible Electric Truck Collaboration
March 4, 2024
Henrik Fisker, an auto design enthusiast since the late ’80s, founded Fisker Automotive, known for the Fisker Karma. Despite a rocky journey and a label as the “Solyndra of the electric car industry,” Fisker persists, now with Fisker Inc. and its debut model, the Ocean SUV. However, financial strains prompt layoffs and production concerns.
Fisker revealed its preliminary Q4 and full-year 2023 results on Feb. 29, and it reported a bleak outlook during its earnings call. It announced a layoff of 15% of Fisker’s workforce and the pausing of projects like the Pear SUV and Ronin convertible. It also stated that there is “substantial doubt about its ability to continue as a going concern.”
However, Fisker is seeking solace in a strategic alliance in the hopes of improving its situation. According to its earnings report, “Fisker is in negotiations with a large automaker for a potential transaction which could include an investment in Fisker, joint development of one or more electric vehicle platforms, and North America manufacturing.”
Recent buzz suggests that Nissan may be the potential partner, according to Reuters. Talks are in advanced stages, with Nissan reportedly considering a $400 million investment in Fisker’s electric pickup truck venture. Terms are under scrutiny, but if successful, production could commence by 2026 in Nissan’s U.S. plants.
Meanwhile, Nissan, once a pioneer with the LEAF hatchback, faces its own challenges in the EV market. A deal with Fisker could rejuvenate its position, especially in the electric pickup niche, despite market uncertainties with competitors scaling back or delaying electric truck projects.
This potential collaboration signifies a shift in Nissan’s post-alliance strategy, exploring growth avenues independently. For Fisker, the partnership could be a much-needed lifeline amidst tough competition and sluggish sales of its Ocean SUV.
While Henrik Fisker’s persistence is commendable, the automotive industry’s turbulence remains evident. The fate of both Fisker and Nissan hangs in the balance, reminiscent of the early days of automobile manufacturing, where success was uncertain and survival was a daily battle.
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