Fisker (FSR) Provides December 2023 Business and Delivery Update

Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, today provided a business update for the month of December.

Henrik Fisker, Chairman and CEO, said:

“We became a revenue-generating company in 2023, but we also faced numerous challenges. Emerging from COVID-19 created several issues for our supply chains, but we have largely overcome them, and we have delivered approximately 4,700 Fisker Oceans. This accomplishment represents substantial revenue, and as we accelerate our delivery pace in 2024, I am excited to see faster growth. We have a solid business with relatively low overhead and an award-winning vehicle that customers enjoy. I am looking forward to a year of new milestones and opportunities for the Fisker brand and everyone on our team.”

Increasing deliveries and revenue

After homologation delays in both Europe and the US, and as we navigated supplier issues, Fisker ultimately produced 10,142 in 2023. Customer deliveries began in June, with significant deliveries commencing in September and October. The company grew deliveries by over 300% from Q3 to Q4, and total deliveries are approximately 4,700, with the majority being Fisker Ocean One launch edition vehicles priced at $68,999 USD (comparably priced in other markets).

Fisker began deliveries in Canada in December and is now operating in 12 markets worldwide. Right-hand drive vehicles have been delivered in the United Kingdom, and in December the UK saw the delivery of the first Fisker Ocean Sport, the company’s entry-level trim.

In 2023, the Fisker Ocean also won six different European awards in Germany, France, Denmark, and the United Kingdom.

Software updates

Fisker has undertaken two key over-the-air (OTA) software updates in Q4. Version 1.10 was rolled out in November, and Version 1.11 commenced in mid-December. The company expects to complete the Version 1.11 update process for all customers by end of January 2024. Feature upgrades and bug fixes have greatly improved customers satisfaction. In February of 2024 Fisker expects to release Version 2.0 with additional exciting features.

Expanded physical footprint and enhanced customer engagement

The company has opened four flagship Lounges (Los Angeles, New York City, London, Munich) and has multiple delivery and services locations in both the US and Europe to bolster the company’s delivery infrastructure. Fisker is now working with partners to achieve higher delivery throughput and to address an initial lack of real estate to achieve delivery objectives.

Fisker has also opened a sales, delivery, and service call center (1-844-FISKER1 in the US and in European locations) to provide better customer service. We recently enhanced our Loyalty Program in all markets to award our most enthusiastic customers.

Looking forward to 2024

In January, the company intends to announce a plan to further accelerate sales and deliveries. This plan will align with our production capabilities and strong demand for the Fisker Ocean SUV.

Fisker will increase the number of test-drive events it conducts in the US and Europe, as the company has witnessed higher sales rates after customers experience the Ocean firsthand. Following a test drive, customers have reported that they are impressed with the Ocean’s ride and handling relative to competitive EVs and that they appreciate the vehicles unique features, such as California Mode, Hollywood Mode, Taco Trays, and the Ocean’s exceptionally comfortable seats.

You May Also Be Interested In