Henrik Fisker has informed employees that discussions are ongoing with four major automakers regarding a potential acquisition of Fisker.
This announcement was made during an all-hands meeting held on Thursday, as reported by Business Insider, and comes at a critical juncture as the company faces increasing financial instability.
During the meeting, Fisker said that while the company had been working with Deutsche Bank to find a potential buyers, and had received one offer to purchase the company, but that it was not “sufficient.” He noted that the four automakers currently in discussions have signed non-disclosure agreements, but due diligence processes are still underway, which may take some time to complete.
Fisker has been struggling to maintain its operational and financial footing. The company’s difficulties have escalated with a recent warning to investors this week that it might seek bankruptcy protection as soon as next month if it fails to secure additional funding.
As of mid-April, Fisker reported having just $54 million in cash and cash equivalents, raising doubts about its ability to sustain operations.
This isn’t the first time Fisker has been in negotiations with an automaker about a potential acquisition. Last month it was revealed Fisker was in talks with a major automaker, rumoured to be Nissan, but those talks fell through without a deal.
