Nissan (OTC:NSANY) is reportedly nearing a significant investment in electric vehicle (EV) manufacturer Fisker Inc. (NYSE:FSR), according to Reuters.
A potential deal, which may be finalized this month, could inject over $400 million into Fisker, focusing on the development of an electric truck platform, the report says.
This collaboration could lead to the production of Fisker's anticipated Alaska electric pickup by 2026 at one of Nissan's U.S. facilities, with locations in Mississippi and Tennessee being potential sites.
Further, Nissan aims to leverage the same platform to launch its own electric pickup.
The discussions come at a critical time for Fisker, which recently expressed concerns over its financial viability and announced a 15% reduction in its workforce.
The company’s shares crashed more than 40% after the announcement, before closing 33.7% lower on Friday.
Fisker disclosed that it was in talks with a major automaker over a potential investment and joint development partnership, though it did not name the company.
The deal, still under due diligence, represents a strategic pivot for Nissan, an early adopter of VEs with its Leaf model, as it seeks to reassert its presence in the competitive EV space, particularly in the U.S. electric pickup segment.
For Fisker, facing challenges from global price reductions by EV leaders such as Tesla (NASDAQ:TSLA) and BYD, alongside slowed demand for its Ocean electric SUV due to rising interest rates, the Nissan investment could offer a much-needed financial boost and operational stability.