Even Nissan doesn’t want Fisker

Fisker is in trouble. The electric car startup announced earlier this month that it doesn’t have enough cash by December. The hope was that another company would step in and save it from eventual bankruptcy—but those talks have fallen apart.

According to regulatory filings filed with the US Securities and Exchange Commission yesterday—as first reported by Reuters-Fisker could not make a deal with the suitors. A “major automaker” involved in the initial negotiations “ended the negotiations.” Fisker was reportedly in discussions with up to five automakers.

One of the big names linked to a possible Fisker investment was Nissan—a brand eager to get more EVs on the road—though that was never officially confirmed. According to an earlier report from ReutersNissan’s biggest interest was the Alaskan electric pickup, with a reported $400 million on the table toward truck production at one of Fisker’s American plants.

The Fisker Alaska debuted last year in concept form promising a range of 340 miles in the US and a starting price of $45,000. The top-of-the-line dual-motor, all-wheel-drive module is said to be capable of 550 horsepower while the base version had 275 horsepower. It was expected to go on sale in the United States sometime this year.

Fisker is now forced to look for alternatives to survive. The document notes that the company “continues to evaluate strategic alternatives.” That could include restructuring the business in court or buying back shares. Speaking of which—Fisker’s stock fell 28 percent the day of the announcement and trading was soon halted.

So far, Fisker has cut its workforce by 15 percent in an attempt to cut costs. Most of those jobs were in sales as the company transitioned from direct-to-consumer sales to a traditional dealer model. The company has reportedly signed 13 dealer partners in North America and Europe, with an ambitious plan to deliver around 20,000 Ocean SUVs worldwide by 2024.

We’ll see where Fisker takes the next few months, but the future doesn’t look promising.