Fisker’s future looks bleak. The company admitted Friday that it could wind down operations in just a year, after a net loss of more than $463 million in 2023. But all hope is not lost. The company says it is negotiating with a “major automaker” that could bring additional investment, joint vehicle development opportunities and North American manufacturing.
Fisker did not say which automaker it was negotiating with. Judging from the electric brand’s statement, the potential partner has a manufacturing presence in North America. But such a partnership is still far from becoming a reality.
“Closing of any transaction would be subject to the satisfaction of significant conditions, including the completion of due diligence and the negotiation and execution of appropriate definitive agreements,” said CEO Henrik Fisker.
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Other statements in Fisker’s 2023 year-end financial report paint a bleak picture of the automaker’s future. Currently, the company does not have enough money to stay in business for the next 12 months.
“The Company will need to seek additional equity or debt financing, and there can be no assurance that Fisker will be successful in these efforts,” the statement said.
Fisker cuts costs by reducing its workforce by 15 percent. Most of those people would be in sales strategy roles, as the company moves from direct-to-consumer sales, like Tesla, to the dealership model, like most traditional automakers.
There are currently 13 locations and Fisker has signed 13 dealer partners for locations across North America and Europe. The company says it has received more than 250 expressions of interest in both regions for additional dealership locations. The automaker plans to deliver 20,000 to 22,000 Oceans worldwide in 2024.
Fisker hires Magna-Steyr to build the Ocean electric SUV. The company manufactured 10,193 examples in 2023 but only delivered 4,929 during the year. Buyers paid for most of the undelivered vehicles, expecting the automaker to move them in the first quarter of 2024.
If Fisker gets the money it needs, the company plans to prioritize the development of the Alaska electric pickup, according to our colleagues at InsideEVs. “We see that the biggest opportunity for growth and I think the profitability and speed to market is with Alaska, so the internal team is now focusing on Alaska,” Henrik Fisker said.
