The EV maker Fisker surprised the market by publishing numbers show it spent less money for more output value and that it will maintain production targets for 2023.
Provided it gets regulatory approval, which is expected any time soon, it will be able to build around 42’500 of its Ocean SUV. As of now, it has some 65’000 vehicles on pre-order, that is about 3’000 more than late 2022. Provided approvals and testing go ahead as planned, the company will be able to roll-out the first vehicles by the second quarter.
Financials: The Ocean SUV is addressing the needs to long-distance drivers; in fact, it has the longest range of any SUV/Crossovers, yet this comes at a price of around USD 70k
Operational results: The company’s fourth quarter loss of $0.54 and revenue of $306 million missed analysts’ forecasts. Given the updated outlook, it can be assumed that the company is in the process of achieving its turn-around – the shares are still a buy, they are still down 38% on a twelve months basis.