Nissan is reportedly in advanced negotiations to invest in electric vehicle maker Fisker, potentially providing the Japanese automaker access to an electric pickup truck while offering the struggling startup a much-needed financial lifeline. Two sources familiar with the discussions disclosed that the deal could be finalized this month, although they requested anonymity due to the ongoing nature of the talks.
The terms under consideration include Nissan investing over $400 million in Fisker’s truck platform and manufacturing Fisker’s planned Alaska pickup beginning in 2026 at one of Nissan’s U.S. assembly plants. Additionally, Nissan would develop its electric pickup using the same platform. Nissan currently operates assembly plants in Mississippi and Tennessee.
See also: Fisker Unveils Alaska Electric Pickup Truck, Sets 2025 Production Target
Fisker had recently announced its uncertain future as a going concern, along with plans to reduce its workforce by 15%. The company revealed that it was engaged in discussions with a major automaker for a potential investment and partnership in joint development, without disclosing the automaker’s identity.
While a Fisker spokesperson declined to comment on the speculation, Nissan officials were not immediately available for comment. Following the Reuters report, Fisker shares, which had been down approximately 45%, recovered some losses and were trading down around 25%, with a market capitalization exceeding $295 million.
See also: Fisker Unveils More Details About Alaska Electric Truck: Promises 340-Mile Range Starting at $45,400
According to one of the sources, the term sheet for the deal is prepared, and the agreement is undergoing due diligence. This potential partnership with Fisker would enable Nissan, an early player in the EV market with its Leaf hatchback in 2010, to enter the growing U.S. electric pickup market.
Nissan’s discussions with Fisker come after a “rebalanced” relationship with its long-time alliance partner, Renault. Last year, Nissan and Renault finalized a restructured alliance, aiming for cross-shareholdings of 15% as part of the deal, allowing Nissan more autonomy to pursue growth strategies in areas such as EVs and software independently of Renault.
See also: Fisker’s Q4 Revenue Misses Estimates, Warns of Going Concern Status
For Fisker, a deal with Nissan could be crucial for its survival, as it faces challenges from aggressive price cuts by EV leaders like Tesla and BYD, which are pressuring the industry. Fisker aims to deliver between 20,000 and 22,000 Ocean vehicles in 2024, and the partnership with Nissan could help secure additional production capacity for its vehicles.
