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Luxury EV brand Fisker is in financial trouble and Nissan is reportedly in talks to invest USD 400 million (about Rs 3,315 crore) in the company. Fisker recently announced that it has paused the development of its affordable compact EV, the Pear, having made a loss of USD 463.6 million (about Rs 3,840 crore) during the fourth quarter of 2023.
Nissan is reportedly in talks to invest $400 million (£316m) in ailing electric car start-up Fisker.
The future of Fisker looks grim. The company admitted on Friday it might only be a year away from going out of business following a net loss of over $463 million in 2023. But not all hope is lost. The company says it's negotiating with a "large automaker" that could bring additional investment, joint vehicle development opportunities, and North American manufacturing.
Development work for the affordable Fisker Pear electric vehicle has been paused, according to company CEO Henrik Fisker. During the automaker's earnings call yesterday, the chief executive confirmed that the Pear — expected to cost less than $30,000 — will be delayed as the company seeks investment from other automakers.
Fisker has paused development of its affordable compact EV, the Pear, amid talks with an unnamed car maker for investment into the cash-strapped company.
After just seven months in the job, Christopher 'CJ' Moore has left Apple, where he was rumoured to be heading up the company's push into the automotive space – a project known as 'Project Titan'.
The Circle of Life continues—new year, new Formula 1 season, new Netflix Drive To Survive trailer. Usually, I wouldn't care too much about the new season's teaser because I already know what happened throughout the previous F1 championship. This time, however, there's been enough noise over the off-season—like Lewis Hamilton signing with Ferrari—that I was curious enough to give the new trailer a look. Y'know, just in case.
Last September, the United Auto Workers (UAW) union went on strike against Ford, General Motors, and Stellantis. The UAW hit the automakers in their pocketbooks, strategically targeting certain plants for the most impact. For Ford, that was its profitable Kentucky truck plant, which now has the automaker thinking "carefully" about where it'll produce its future vehicles.