Electric vehicle startup Fisker is currently facing financial difficulties and has brought on restructuring advisers, including financial adviser FTI Consulting and law firm Davis Polk, to explore a potential bankruptcy filing, as reported by the Wall Street Journal.
Amidst these challenges, Fisker’s stock price has experienced a significant decline, dropping over 40% in after-hours trading and more than 80% since the beginning of 2024, according to CNN.
To alleviate going-concern risks and navigate the current financial landscape, Fisker has signaled job cuts and a temporary halt in investments for future projects until it secures a partnership with a manufacturer.
Additionally, there have been talks of a potential investment from Nissan, which could potentially provide the Japanese automaker access to an electric pickup truck through a deal with Fisker.
These recent developments reflect the ongoing changes in the automotive industry, particularly within the electric vehicle sector, as companies strive to adapt to market demands and secure strategic partnerships for long-term sustainability.
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