Fisker surpasses 10,000 EV production in 2023 as stocks rise

Following the announcement of a remarkable 300% surge in EV deliveries for the last quarter, shares of Fisker experienced a significant uptick, registering an almost 10% gain in premarket trading. Despite enduring a cumulative 79% decline throughout the year, the surge is attributed to heightened demand for the Fisker Ocean SUV, priced at approximately $69,000.

The surge in quarterly sales is propelled by robust consumer interest in the Fisker Ocean SUV, with a manufacturing collaboration with Magna International's Austrian unit facilitating the production of 10,142 vehicles in 2023. Fisker plans to escalate its production pace after delivering around 4,700 Fisker Oceans in the same year.

Fisker commenced vehicle deliveries in June and has progressively expanded its market presence to 12 regions, including Canada. Notably, EV deliveries surged over 300% from Q3 to Q4, with an estimated 3,600 EVs delivered in the fourth quarter, based on the sale of 1,097 Ocean EVs in Q3.

With a starting price of around $69,000, the Fisker Ocean One launch edition dominated the delivered EVs, and Fisker introduced its Ocean Sport model earlier this week, featuring an EPA range of up to 231 miles and a price below $40,000.

As part of its growth strategy, Fisker has established four flagship lounges and multiple delivery locations in key cities across the US and Europe. The company plans to unveil a strategy in January focused on rapidly increasing EV deliveries and sales, aligning with strong demand for the Fisker Ocean and the brand's production capabilities.

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