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Fisker stock trades halted as talks with Nissan collapse

Fisker's talks with a large automaker for a potential deal have collapsed, it said on Monday amid growing uncertainty for the cash-strapped startup that last week paused electric-vehicle production.  Trading in the shares of the company, which did not name the automaker with which it was in talks, has been halted pending an announcement.  Fisker also said it will not be able to meet a closing condition related to its attempt to raise up to $150 million in funding by selling convertible notes after missing an interest payment.  Separately, Fisker said it would ask investors to vote on a proposal for a reverse stock split at a shareholder meeting on April 24, as it looks to maintain compliance with the Nasdaq's listing norms.  Reuters had reported earlier this month that Nissan was in advanced talks to invest in the company, however, earlier in the day, the Japanese automaker held an event in which it announced a long-term business plan, including its EV strategy, and said it was looking for partners in the United States.  Raising funds has been hard for loss-making electric vehicle startups, which have little in way of revenue as they struggle to ramp up production and deliver to customers, as the companies battle stiff competition and a tough economy.  The EV startup's shares have cratered this year, losing more than 90% of their value, after it flagged going concern risk in February and paused investments in future projects until it secured a partnership with an automaker.  Fisker pivoted to a dealer-partner model earlier this year, after it delivered less than half of the vehicles it made in 2023 due to logistics issues.    Earnings/Financials Fisker Nissan

This is the Fisker EMotion

Here's our first official glimpse at the Fisker EMotion. It's sleek, for sure, and it definitely has a whiff of past and current electric vehicle design, including Fisker's previous range-extended Karma (now known as the Karma Revero) and the Tesla Model S and upcoming Model 3. Some of the similarities between all EVs are due to their aerodynamic shapes. And unlike most other EVs, though, the EMotion has butterfly doors. Fisker unveiled the EMotion via Twitter, and he says it will have a range of 400 or more miles and can recharge in as little as nine minutes – but that'll definitely depend on what kind of equipment its owner is charging with. It'll also be autonomous, according to Fisker, helped by the big LIDAR sensor built into its chrome front beak. Just what level of autonomous we're talking about remains to be seen. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. So far, we like what we see from Fisker. And, if the designer-entrepreneur manages to put this thing into production, we look forward to seeing it on the road. Related Video:

Henrik Fisker teases more pictures of the EMotion EV

Luxe-green-vehicle pioneer Henrik Fisker said earlier this week that he will unveil a prototype of his EMotion electric vehicle this summer. He also reiterated that the car will have at least a 400-mile single-charge range. And he tweeted an image showing off the sedan's dihedral (also known as "butterfly") doors. The car is expected to start sales sometime next year. Fisker followed up that tweet with another noting that the car's carbon and aluminum structure will cut the EMotion's weight relative to similar vehicles by 20 percent. He also touted the vehicle's "extreme low hood," which will certainly help aerodynamics as well as the car's sportiness. Fisker started teasing images last fall, subsequently noting that the car will have a top speed of 161 miles per hour and adding that the car will be roomier than its sleek profile would suggest. As for the unveiling timetable, the EMotion's debut as a prototype would take place about a month after Tesla's planning to start deliveries of its Model 3. A cool summer indeed. Fisker is better known among green-car aficionados as the founder of Fisker Automotive. That company made the high-end extended-range plug-in vehicle Karma, which was favored by such luminaries as Leonardo DiCaprio and CeeLo Green. After the company went bankrupt in 2013, its assets were acquired by China-based Wanxiang, and the company has been relaunched as Karma. That automaker's four-door Revero extended-range plug-in, which is estimated to be able to go as far as 50 miles on electricity alone, is also scheduled to debut this year, with an MSRP of about $130,000. Related Video: News Source: Henrik Fisker/Twitter via InsideEVsImage Credit: Henrik Fisker/Twitter Green Fisker Hybrid extended-range plug-in henrik