Reuters has revealed that Nissan is in talks to invest in electric vehicle maker Fisker in a deal that could provide the Japanese automaker with access to an electric pickup and give startup a financial lifeline, according to two people familiar with the negotiations. The deal could close this month, said the sources.
Terms being discussed include Nissan investing more than $400 million in Fisker’s truck platform and building Fisker’s planned Alaska pickup starting in 2026 at one of its U.S. assembly plants, according to Reuters.
Nissan would build its own electric pickup on the same platform, the source said. Nissan has U.S. assembly plants in Mississippi and Tennessee. Fisker said on Thursday, when it announced it might not be able to continue as a going concern and would cut 15% of its workforce, that it was in talks with a large automaker for a potential investment and joint development partnership. It did not name the automaker.
A Fisker spokesman said the company does not comment on speculation, while Nissan officials were not immediately available to comment. Fisker shares had been down about 45% before the Reuters report but pared those losses and were trading down about 25% with a market capitalization of more than $295 million. The term sheet is ready and the deal is going through due diligence, one of the sources said.
Nissan was an EV pioneer with its fully battery powered Leaf hatchback in 2010 but has since struggled in the face of nimbler new entrants. A deal with Fisker would help it move into the growing U.S. electric pickup market.
Nissan’s talks with Fisker comes in the wake of the former’s “rebalanced” relationship with its long-time alliance partner Renault. Last year, Nissan and Renault finalized terms of a restructured alliance after months of negotiations. They aim to have cross-shareholdings of 15% as part of the deal.
Read the full report on Reuters.
