Editor's note: This article was originally published in Automotive Dive, which has merged with WardsAuto to bring you expanded coverage of the industry. For the latest news, sign up for our free, daily newsletter.

Dive Brief:

• Fisker’s potential deal with a major automaker has fallen through, the electric vehicle startup said in a regulatory filing Friday, leaving the cash-strapped company’s future in doubt. 
• The EV startup said the “large automaker with which the Company had been in negotiations for a potential transaction” terminated the talks after the market closed Friday.
• Fisker will continue “to evaluate strategic alternatives,” including court restructurings, the potential sale of assets and more, according to the filing.

Dive Insight:

Fisker had a tumultuous 2023, during which the automaker dealt with production delays, weak sales, high interest rates, labor shortages, and a lack of real estate for its retail stores.

Last week, the EV startup announced it would stop producing its Ocean SUV for six weeks and raise up to $150 million by selling convertible notes as it fights for survival. 

In January, Fisker announced it would abandon its direct-to-consumer sales model and sell its vehicles through dealers in a last-ditch effort to juice sales and revenue. 

But in February, less than two weeks after the New York Stock Exchange threatened to delist the company for failing to maintain a share price above $1, Fisker reported losing $762 million in 2023.

With its survival in question, Fisker announced it would seek a partnership with a major automaker and slash its staff by 15%. The next day, Reuters reported that Fisker was closing in on a deal with Nissan, which involved a $400 million investment and partnership to build electric pickup trucks.

The NYSE halted trades of the company’s stock shortly after the market opened Monday, after news of a potentially collapsed deal sent stocks tumbling.