Rumor has it that Nissan is in talks with Fisker. Fisker needs roughly $400MILLION by some reports. The stock in the company may apparently be valued at less than it needs to raise in cash? If that is true, why would anyone "invest" in the company? Nissan might be able to simply buy the whole thing for less than Fisker is looking to raise?
Personally I like this car. With AWD the range is up to 360 miles. Owners seem to love them. They have some very interesting features. But when I looked at buying one last fall, they could not promise me delivery. Not even a delivery date. They would be happy to take a nice size deposit, but would delivery be 30 days? 90 days? 6 months? A year? Nobody would give me an answer. So I bought a Toyota. Still, a Fisker Ocean SUV, with a real life range that easily exceeds 300 miles in AWD mode, would have suited almost all of my driving needs. A comparable Hyundai Ionic 5, offered roughly 100 miles LESS range.
Sorry to see this company go, lots of innovation. Hopefully one of the major companies can pick them up and run them profitably, with Nissan having a lot to gain as they are considered to be well behind the curve on innovation, EV development, etc.
FULL STORY AT CNN:
Personally I like this car. With AWD the range is up to 360 miles. Owners seem to love them. They have some very interesting features. But when I looked at buying one last fall, they could not promise me delivery. Not even a delivery date. They would be happy to take a nice size deposit, but would delivery be 30 days? 90 days? 6 months? A year? Nobody would give me an answer. So I bought a Toyota. Still, a Fisker Ocean SUV, with a real life range that easily exceeds 300 miles in AWD mode, would have suited almost all of my driving needs. A comparable Hyundai Ionic 5, offered roughly 100 miles LESS range.
Sorry to see this company go, lots of innovation. Hopefully one of the major companies can pick them up and run them profitably, with Nissan having a lot to gain as they are considered to be well behind the curve on innovation, EV development, etc.
FULL STORY AT CNN:
EV maker Fisker says it could run out of cash needed to survive
New York CNN —
Fisker, the electric vehicle company founded by auto designer Henrik Fisker, announced in its fourth quarter earnings Thursday that it might not have enough money to survive another year.
The company announced there was “substantial doubt about Fisker’s ability to continue as a going concern.” In order to have the cash to do business through the next 12 months, the company will have to raise more money from investors. Fisker’s stock was trading at 75 cents a share at the close of trading Thursday and dropped to a little more than 40 cents this morning.
The company is in discussions with an existing investor about possibly putting more money into the company, the EV maker said in its announcement. It will also lay off 15% of its workforce as it attempts to cut costs.
Fisker lost $463.6 million while taking in $200 million in revenue in the 4th quarter of 2023. That included a $325 million adjustment related to convertible notes. The company’s loss from operations was $103.5 million.
Fisker, which sells the Ocean electric SUV, has an unusual business model in which it has entirely outsourced the manufacturing of the one model it currently sells. The Ocean is built in Austria by Magna, a company that has also built vehicles for Mercedes-Benz, BMW and Jaguar. . . .