EV Start-up Fisker Expands Deliveries to 3 New Countries. The Stock Is Rising.
EV start-up Fisker is expanding deliveries of its Ocean SUV into more countries, resulting in a rise in the company's stock.
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Posted 8/28/2023, 11:46:00 AM
barrons.com
Relevant topic timeline:
The main topic is Fisker's reveal of a range of EV prototypes, including a pickup truck, sports car, off-road SUV, and a new vehicle called the PEAR. The key points are:
1. Fisker showcased its future EV lineup, including a luxury pickup truck called the Alaska, a sports car called the Ronin, an off-road version of its Ocean SUV called the Force E, and the PEAR vehicle.
2. The Alaska pickup truck will have up to 340 miles of range, an extendable bed, and unique features like a "big gulp" cupholder. It will be built by Magna Steyr and is set to come to market in 2024 with a starting price of $45,400.
3. The PEAR vehicle, built in partnership with Foxconn, will have up to 300 miles of range and be priced at $29,900. Fisker plans to build 250,000 PEARs per year at the Lordstown Motors plant, with a goal of eventually producing 1 million per year globally.
4. The Ronin sports car will have a tri-motor powertrain, over 1,000 horsepower, and a targeted range of 600 miles. Production is set to start in the second half of 2024.
5. The Force E is an off-road version of the Ocean SUV, featuring wider fenders, a skid plate, and larger wheels. It will be available in the first quarter of 2024.
6. Fisker is taking reservations for all of its future vehicles, with deliveries expected to begin in 2025.
Fisker, the electric vehicle manufacturer, has recently unveiled its upcoming lineup of EVs, including the Alaska pickup truck, the Ronin sports car, the Pear subcompact, and the Force E rugged version of the Ocean SUV. The Alaska pickup truck features a unique drop-down midgate, allowing the cargo bed to extend into the cabin, and is expected to have a range between 230 and 340 miles per charge. The Pear subcompact will have a slide-down rear end and will be priced at $29,900, while the Ronin sports car, with impressive specs like over 1,000 horsepower and a 600-mile driving range, will be a high-end offering. Additionally, Fisker showcased the Ocean Force E, an upgrade package for the existing Ocean SUV, which includes off-road features like all-terrain tires and skid plates. Overall, Fisker's new EV lineup offers a range of options for different types of customers, from pickup truck enthusiasts to luxury sports car lovers.
Main topic: Fisker unveils three new EVs and provides details on the Ronin supercar.
Key points:
1. Fisker introduces the Ronin, a four-door supercar EV with a 600-mile range and a price tag of $385,000.
2. Fisker reveals the Alaska electric pickup, based on the Ocean, with a starting price of $45,400 and a range of 230 miles.
3. Fisker announces the Pear EV, a budget offering priced under $30,000, with all-wheel drive, dual motors, and a range of 300 miles.
Fisker has introduced the Ocean Force E, an upgraded version of its electric SUV that comes with rugged features like 33-inch tires, skid plates, and specialized dampers, making it suitable for off-roading.
Fisker Inc. has expanded its presence in Europe by launching in Belgium, the Netherlands, and Switzerland, allowing customers in these countries to reserve and order the Fisker Ocean electric vehicle with deliveries planned for the end of September.
Fisker Inc. plans to complete homologation of its all-electric SUV, the Fisker Ocean, in Canada by September 7th and expects to finalize most vehicle deliveries by the end of September, with retail and service locations to be established in Vancouver and Toronto.
Chinese electric vehicle maker Xpeng plans to expand into more European markets, including Germany, Britain, and France in 2024, following its successful entry into the Netherlands and Norway.
Fisker Inc. plans to increase production of its Ocean SUV in the US and overseas, but questions remain as to whether the automaker can meet its revised 2023 production guidance.