Four Car Manufacturers in Discussions to Acquire Failing Startup

Fisker’s CEO, Henrik Fisker, informed staff during an all-hands meeting on Thursday that the company is engaged in discussions with four automakers about a potential acquisition. Despite the talks, Fisker has warned that it could go out of business this year. It wasn’t disclosed who the automakers are or how long the due diligence process might take.

Earlier this year, a possible deal with Nissan fell through. Fisker has been working with Deutsche Bank to find a buyer but so far no offer has met the company’s expectations. A recent regulatory filing indicated that Fisker only had $54 million in cash equivalents as of April 16, which may not be enough to meet its obligations.

The all-hands meeting followed Fisker’s warning to investors that bankruptcy protection could be on the horizon if the company doesn’t improve its liquidity in the next 30 days. Fisker has said that they are open to other offers while working with the potential suitors. As of now, the company’s future remains uncertain and they are actively seeking a solution to secure their financial standing.