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4 Automakers in Talks to Buy Struggling Startup

Fisker CEO Henrik Fisker told staff at an all-hands meeting Thursday that the company was in talks with four automakers about a possible buyout, according to a recording of the event viewed by Business Insider.

“We still have time to get other offers on Fisker,” he told staff Thursday. “We have four automakers that have signed NDAs. However, they obviously need time to do their due diligence.”

The company did not say who the four automakers were or how long it would take for the companies to conduct due diligence as they work toward a possible deal.

A deal with a major automaker rumored to be Nissan fell through earlier this year. The CEO told aides on Thursday that the company was working with Deutsche Bank to find a buyer. A single offer to purchase the company was not “enough,” he said, according to the recording.

The all-hands meeting comes two days after Fisker warned investors it could seek bankruptcy protection within 30 days if it fails to raise more cash. The company said in the regulatory filing that it had only $54 million in cash equivalents as of April 16 and “believes that its available liquidity will not be sufficient to meet its current obligations.”

A Fisker spokesperson declined to comment.

Do you work for Fisker or have a tip? Contact the reporter via non-business email and device at gkay@businessinsider.com

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