Electric vehicle (EV) maker Fisker Inc. could be thrown a lifeline in the form of a potential investment and partnership deal with Japanese automaker Nissan Motor Co. Ltd. According to sources familiar with the negotiations, the two companies are in advanced talks, with a deal potentially closing this month.
The proposed deal could see Nissan investing over $400 million in Fisker’s electric truck platform. This would include building Fisker’s planned Alaska pickup truck, slated for production in 2026, at one of Nissan’s U.S. assembly plants. The source further revealed that Nissan would also build its own electric pickup based on the same platform.
This news comes amidst financial struggles for Fisker. The company recently announced potential insolvency concerns and workforce reductions due to insufficient resources for the next year. They were also in talks with a debt holder for potential investment. However, the potential partnership with Nissan could provide much-needed financial stability and production capacity.
For Nissan, the deal would be an opportunity to tap into the booming U.S. electric pickup market. The Japanese automaker, an early EV pioneer with the Leaf hatchback in 2010, has faced challenges keeping up with nimble new entrants in the space. This potential partnership comes after Nissan’s “rebalanced” relationship with long-time alliance partner Renault. The new structure allows Nissan more independence in pursuing growth plans, including areas like EVs and software.
The deal would benefit both parties. Fisker would gain the financial backing and production capacity needed to survive and compete in a market facing aggressive price cuts from industry leaders like Tesla and BYD. Meanwhile, Nissan would gain access to a new electric truck platform and entry into a lucrative market segment currently dominated by Ford, General Motors, Rivian, and Tesla.
Fisker CEO Henrik Fisker previously stated the company was in talks with several automakers for production partnerships. These talks have apparently narrowed down to Nissan, with the potential deal encompassing joint development of one or more EV platforms and North American manufacturing. The Alaska pickup, unveiled last year with a starting price of around $45,000, would compete directly with established players like the Ford F-150 Lightning, Chevrolet Silverado EV, Rivian R1T, and Tesla Cybertruck.
While the deal is not yet finalized, the term sheet is reportedly ready, and due diligence is underway. Both companies face individual challenges, but this potential partnership could offer a win-win scenario, propelling Fisker forward and solidifying Nissan’s position in the evolving EV landscape.
