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Enthusiasm Drives Fisker to Consider Production Expansion and U.S. Manufacturing

Stock Markets Aug 19, 2022 08:22
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By Michael Elkins 

Electric vehicle maker, Fisker Inc (NYSE:FSR) announced on Friday that the company is considering expanding production numbers beyond the current 50,000 per year. As popularity for the Fisker Ocean ONE and Ultra climb, management says that the company is working diligently to keep up with demand and may even be looking to expand manufacturing into the U.S. market.

"The enthusiasm we're seeing worldwide for the Fisker Ocean is nothing short of humbling. With our partners at Magna, test vehicles are rolling off the line at the carbon-neutral manufacturing plant in Graz, where we are working diligently on expanding production numbers beyond the current projection of 50,000 units per year," said CEO and Chairman of Fisker, Henrik Fisker. "We are also exploring expanding operations to meet this growing demand, including considering manufacturing in the United States. And with our disciplined spending, strong cash position, extraordinary operational flexibility, strong relationships with our suppliers, and a diversified, high line-of-sight potential revenue stream for the first year, we're full speed ahead on all fronts. I’m looking forward to seeing the very latest pre-production Fisker Ocean vehicles come off the line when I visit the Magna plant in September."

In July, the 5,000-unit Fisker Ocean ONE limited launch edition sold out globally in just 30 days. The Fisker Ocean Sport base model and mid-level Fisker Ocean Ultra also sold out, with potential binding orders for the 2023 U.S. allocation for both trims selling out in a matter of days earlier this month.

As the momentum continues, Fisker will also make an appearance at Pebble Beach Concours d'Elegance this week, offering attendees and reservation holders the opportunity to see the Fisker Ocean in person at Concours Village. Fisker will also cruise the coastline in the Blue Planet Fisker Ocean test vehicle, hitting up all the hot spots around the Pebble Beach festivities until Sunday, August 21, 2022.

 

Enthusiasm Drives Fisker to Consider Production Expansion and U.S. Manufacturing
 

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