Fisker Inc. - FSR STOCK NEWS

Fisker Inc. (NYSE: FSR) reports that production of its Fisker Ocean SUV will be 50,000 units annually, potentially increasing in 2024 due to high global demand. The company currently has over 58,000 reservations and anticipates reaching 80,000 by year-end. Fisker emphasizes its strong cash position of $851.9 million, disciplined financial strategy, and operational flexibility. Following a successful debut at the Pebble Beach event, the Fisker Ocean will soon appear in New York. CEO Henrik Fisker highlighted the company's commitment to meeting production timelines and exploring U.S. manufacturing.

Fisker Inc. (NYSE: FSR) has sold out its 2023 US allocation for the Fisker Ocean Sport and Ultra trim levels, alongside its 5,000 units of the Fisker Ocean One globally. The company is proactively reaching out to US reservation holders to ensure eligibility for potential federal tax credits under the Inflation Reduction Act of 2022. Fisker is exploring US manufacturing sites and plans to ramp up production of the Fisker Ocean in late 2023, with preparations for large-scale manufacturing underway at its carbon-neutral factory in Austria starting November 17, 2022.

Fisker Inc. has introduced a new process for US-based reservation holders of the Fisker Ocean SUV to retain access to a federal tax credit of up to $7,500. This move comes ahead of the potential passage of the Inflation Reduction Act, which would make vehicles manufactured outside North America ineligible for the credit. Production of the Fisker Ocean is set to begin on November 17, 2022, with an annual output goal of 40,000-50,000 units in 2023. Reservation holders will not need to make further payments to secure their orders until the Act is finalized.

Fisker Inc. (NYSE: FSR) reported Q2 2022 results, highlighting progress in vehicle development and strong consumer demand. All 5,000 pre-orders for the Fisker Ocean One are sold out, reflecting approximately $350 million in potential revenue. As of August 1, 2022, Fisker has over 56,000 reservations for the Fisker Ocean. The company maintains a strong financial position with $851.9 million in cash. Fisker affirmed November 17, 2022, as the start of production date for the Fisker Ocean, while the Fisker PEAR is expected to start production in 2024.

Fisker Inc. (NYSE: FSR) showcased the all-electric Fisker Ocean at the Pebble Beach Concours d’Elegance from August 18-21, 2022, marking its debut at this prestigious event. The public and media were invited to explore the vehicle at Concours Village. Fisker is on track to commence production of the Fisker Ocean in November 2022, with a starting price of $37,499 for the Sport trim. The first 5,000 units will be the limited launch edition Fisker Ocean One, produced at a carbon-neutral factory in Austria.

Fisker Inc. (NYSE: FSR) will report its Q2 2022 financial results on August 3, 2022, after market close, followed by a conference call at 2 p.m. PT. The call will feature key executives, including CEO Henrik Fisker. Shareholders can submit questions via the Say platform until 24 hours prior to the call. Fisker is on track to begin production and deliveries of the Fisker Ocean in November 2022, aligning with its goals of being a leader in sustainable electric vehicles.

Fisker Inc. (NYSE: FSR) has appointed Alpay Uguz as Senior Vice President of Global Manufacturing, effective immediately. In this role, he will collaborate with senior management to strategize production towards a target of one million vehicles annually by 2027. Uguz brings extensive experience in lean manufacturing and innovative techniques, aiming to enhance efficiency and reduce costs from early development stages. CEO Henrik Fisker emphasized that Uguz's experience will accelerate Fisker’s manufacturing processes, integrating advanced methods early in vehicle design.

Fisker Inc. (NYSE: FSR) has launched Fisker Finance℠, a digital financing platform designed to provide seamless loan options for customers. This initiative aligns with the upcoming launch of the Fisker Ocean in November 2022. The company has reaffirmed its retail financing partnerships with Chase in the US and Santander Consumer Finance in Europe, with additional partners expected. Customers can finance not just the vehicle but also accessories and home charging equipment. The digital platform aims to enhance the customer experience, allowing personalized loan applications and competitive financing decisions.