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- Fisker's talks with a large automaker for a potential transaction has collapsed, the electric-vehicle startup said on Monday, sending its shares plunging more than 30% before the bell.Reuters had reported earlier this month that Nissan was in advanced talks to invest in the company, in a deal that could act as a financial lifeline for the cash-strapped EV startup.
Fisker had said earlier this month it would pause production of its EVs for six weeks and raise up to $150 million in funding by selling convertible notes after missing an interest payment. The EV startup's shares have cratered this year, losing more than 90% of their value, after it flagged going concern risk in February and paused investments in future projects until it secured a partnership with an automaker.
Fisker pivoted to a dealer-partner model earlier this year, after it delivered less than half of the vehicles it made in 2023 due to logistics issues.ADVERTISEMENT
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