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Fischer (NYSE:FSR) is in talks with Japan’s Nissan Motor (OTCPK:NSANY) in a bid to save the struggling electric vehicle maker, according to media reports.
Nissan (OTCPK:NSANY) could invest up to $400 million in Fisker’s truck platform and build Fisker’s planned Alaska pickup starting in 2026 at one of its U.S. assembly plants, according to Reuters reports it Friday, which cited people familiar with the matter,
The deal could close this month, according to the Reuters report. The term sheet is ready and the transaction is going through due diligence, one of the sources told Reuters.
The report comes after shares of Fisker (FSR) plunged 34% on Friday after the company expressed doubts about whether it could continue operating. The electric vehicle maker also said Thursday that it is currently in talks with a major automaker about a potential transaction that could include an investment in the company and/or the joint development of one or more electric vehicle platforms.
Fisker (FSR) also said Thursday that it plans to cut 15% of its workforce in connection with the pivot of its sales strategy to a Dealer Partner model.