Fisker revealed Monday that talks with a "large automaker" for a possible rescue investment have collapsed, as the California-based electric vehicle manufacturer's stock plummeted 28%, before trading was halted.
Fisker said "an announcement" is pending, according to Monday's regulatory filing that said the unnamed automaker ended negotiations last Friday.
"After the market closed on March 22, Fisker Inc. received noticed from the large automaker, with which the company had been in negotiations for a potential transaction, that the automaker terminated the negotiations. Following such termination, the company continues to evaluate strategic alternatives," the filing states.
While Fisker has not named the "large automaker," there were reports that Nissan was interested in partnering with the cash-strapped EV company.
