Fisker Electric Vehicle Startup in Financial Distress as Four Automakers Explore Acquisition Possibilities

Fisker, a struggling electric vehicle startup, recently held an all-hands meeting with its staff members to discuss the company’s current financial situation. During the meeting, CEO Henrik Fisker revealed that the company is in talks with four different automakers regarding a potential acquisition. While employees were given some time to receive other offers, four car companies have already signed non-disclosure agreements and are working through their due diligence processes.

The identity of the automakers involved in the talks was not disclosed, nor was an estimated timeline for when any potential agreements may be reached. Earlier this year, a deal with Nissan fell through, and Fisker has since been working with Deutsche Bank to explore other potential buyers. Despite efforts to secure a buyer, one offer received so far was deemed insufficient by the company.

This meeting was held shortly after Fisker warned investors that bankruptcy protection may be necessary within the next 30 days if additional liquidity is not secured. The company reported having only $54 million in cash equivalents as of April 16 and expressed concerns that this would not be enough to meet current obligations. A spokesperson for Fisker declined to comment on the situation. If you have any information on this matter or work for Fisker and would like to share insights, please contact the reporter via email at gkay@businessinsider.com.