LOS ANGELES - The financially strained startup company that planned to build an electric vehicle in Lordstown has announced that discussions to garner an investment from a major automaker have fallen through.

Fisker Incorporated has announced that it learned late Friday that the large automaker has terminated negotiations with Fisker.

Fisker never publically identified the large automaker it was negotiating with. However, several media outlets reported that Fisker had been in discussions with Nissan.

Fisker stated in a Securities and Exchange Commission filing that Fisker must now evaluate “strategic alternatives” that may include in or out-of-court restructurings, capital markets transactions, repurchases, redemptions, exchanges, or other refinancings of its existing debt, the potential issuance of equity securities, and the potential sale of assets and businesses.

 “These alternatives involve significant uncertainties, potential significant delays, costs, and other risks, and there can be no assurance that any of these alternatives will be available on acceptable terms, or at all, in the current market environment or the foreseeable future,” Fisker said in the SEC filings.

Fisker says it will be unable to meet a closing condition to a financing commitment made to an investor last week. Fisker says it will ask the investor to waive the condition or provide financing under different terms.

Fisker, which announced plans more than a year-and-a-half ago to build a small electric vehicle in Lordstown, has hired restructuring advisers to assist with a possible bankruptcy filing according to reports published earlier this month.

As reported earlier by 21 News, Fisker’s plans to manufacture a small electric vehicle at Foxconn’s plant in Lordstown were put on the back burner as Fisker struggles to survive.

Fisker reported a loss of $463.6 million in the final quarter of 2023 primarily attributed to a combination of operating losses and adjustments related to its 2025 notes.

Fisker Chairman and CEO Henrik Fisker announced earlier that the company is not planning to spend cash on future projects until it can achieve a strategic partnership in place with an automaker.

Those two projects on hold are the Alaska pickup truck and the affordable PEAR electric vehicle.

Stating that there is substantial doubt about Fisker’s ability to continue as a going concern, the company said in an earlier news release that its current resources may not be sufficient to survive over the next year without additional equity or debt financing.