Nissan is currently engaged in advanced discussions aimed at investing in the electric vehicle (EV) manufacturer Fisker, potentially saving the struggling startup from financial turmoil. The proposed deal would grant Nissan access to Fisker’s electric pickup truck while offering Fisker a much-needed financial boost. Although the negotiations are ongoing and yet to be finalized, sources familiar with the matter indicate that the deal could be sealed as early as this month.
Under the terms being deliberated, Nissan would inject over $400 million into Fisker’s truck platform, enabling the Japanese automaker to produce Fisker’s planned Alaska pickup beginning in 2026 at one of its U.S. assembly plants. Simultaneously, Nissan would develop its own electric pickup utilizing the same platform. With assembly plants located in Mississippi and Tennessee, Nissan is strategically poised to capitalize on the growing U.S. electric pickup market.
Fisker recently announced its precarious financial situation, signaling potential insolvency and the necessity to reduce its workforce by 15%. However, it hinted at ongoing discussions with a major automaker for investment and collaborative development without disclosing the identity of the automaker involved. While Fisker refrains from commenting on speculations, Nissan has not provided immediate comments on the matter.
The proposed investment from Nissan offers a glimmer of hope for Fisker amidst its struggles. Facing stiff competition and global price cuts from established EV giants like Tesla and BYD, Fisker has encountered difficulties in selling its flagship Ocean electric SUV. This investment could provide the lifeline needed for Fisker to weather the storm, especially considering its current financial resources are deemed insufficient to sustain operations for the next year.
For Nissan, this potential partnership with Fisker represents an opportunity to reassert itself in the EV market, particularly after experiencing challenges following the initial success of its Leaf hatchback in 2010. By venturing into the electric pickup segment, Nissan aims to capitalize on emerging trends and regain its competitive edge.
The discussions between Nissan and Fisker come at a time when Nissan is reassessing its alliance with Renault, with the aim of pursuing independent growth strategies, particularly in EVs and software development. This restructured alliance provides Nissan with the flexibility to explore new opportunities and expand its presence in promising markets.
Fisker’s CEO Henrik Fisker has been vocal about the company’s efforts to secure partnerships for additional production capacity. The narrowed discussions with one automaker suggest that Fisker is inching closer to securing a vital collaboration that could ensure its viability in the market. With plans to deliver a substantial number of Ocean vehicles in 2024 and the unveiling of the Alaska pickup, Fisker is positioning itself to compete against established players in the electric truck segment, including Ford, GM, Rivian, and Tesla.
The potential investment and partnership between Nissan and Fisker hold a reasonable promise for both companies, offering Nissan an entry into the lucrative electric pickup market while providing Fisker with the financial stability and resources needed to thrive in a competitive landscape.
Sources: WSJ, Fisker
