- Fisker is reportedly in talks with four automakers for a possible acquisition to avoid bankruptcy.
- The company recently missed a debt payment, was delisted from the NYSE, and is facing a challenging market environment.
- An earlier acquisition attempt with Nissan reportedly fell through, highlighting the need for a new partner.
Henrik Fisker, the CEO behind the struggling electric car brand that bears his name, reportedly met with employees on Thursday to tell them the company is in talks with four automakers for a possible acquisition. This might be the only way to save the brand after several months of market decline. Several automakers might benefit from acquiring Fisker, but only at the right price.
The deal might not come quickly though. “We still have some time to get other offers on Fisker. We do have four car companies that have signed NDAs. However, they obviously need time to get to some diligence,” he said, according to a recording of the event that was viewed by Business Insider
More: Fisker Ocean’s Woes Multiply As Feds Investigate Stuck Door Complaints
These statements come just after Fisker revealed that it could seek bankruptcy protection within a month if it doesn’t find an investor. There’s a lot to unpack, but among other things, the company recently missed an $8.4 million debt payment, hired a restructuring officer, and was delisted from the NYSE due to its stock price falling below $1 for more than 30 days. Despite these challenges, Fisker appears to be holding out for the right acquisition deal, not just the first one available.
According to the report on Business Insider, the CEO told to employees that it turned down one offer that wasn’t “sufficient”. While unconfirmed by Fisker or Nissan, rumors suggested that the two were deep into talks before things fell apart last month. For the time being there’s no word on who the four new suitors might be for Fisker.
It’s no secret that the current market correction presents significant challenges for electric carmakers, let alone struggling startups like Fisker. Any potential acquisition of Fisker would require careful consideration to ensure it’s a worthwhile investment. While the interest from Nissan remains uncertain, other companies may see an opportunity for a favorable deal given Fisker’s circumstances.
However, whether these opportunities will be enough to ensure Fisker’s survival remains to be seen.
