Zinger Key Points
- Fisker shares are down year-to-date and are yet to catchup with the broader market rally.
- The company showcased its product roadmap on Thursday and more details could be forthcoming on its earnings call Friday.
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Fisker, Inc. FSR, which has taken baby steps into the world of commercialization, has charted an ambitious product roadmap. The Los Angeles, California-based company showcased its future vehicles at its "Product Vision Day" held in Huntington Beach, California.
What Happened: The electric vehicle startup unveiled four future products, including:
- Fisker Ocean SUV with a Force-E offroad package
- Fisker Ronin grand-touring four-door convertible
- Fisker Pear
- Fisker Alaska EV pickup truck
Commenting on the products and plans, CEO Henrik Fisker said, “We want the world to know that we have big plans and intend to move into several different segments, redefining each with our unique blend of design, innovation, and sustainability.”
See Also: Best Electric Vehicle Stocks
Ronin – A Preemptive Move To Take On Tesla Roadster: The Fisker Ronin, the company said, will be the world's first all-electric four-door convertible GT sports car. Going by the details shared by the company, reports suggested Ronin will be pitched against Tesla, Inc. TSLA Roadster if it ever enters the market.
The Ronin targets a 600-plus mile range and will be powered by a triple motor all-wheel-drive powertrain capable of delivering 1,000+ horsepower and 0-60 miles per hour acceleration in 2 seconds, the company said.
Fisker first teased the vehicle in May this year.
Share Of EV Pickup Truck Pie: With bigger EV rivals fighting it out to make inroads in the electric pickup truck market, Fisker apparently doesn't want to be left behind. The company showcased its Fisker Alaska, which it claimed is built for multiple cargo configurations.
The cargo bed is extendable from 4.5 feet up to 9.2 feet and it comes with a Houdini bed divider to connect the cargo bed and rear cabin, the company said. It also claimed that Alaska would be the world's lightest EV pickup truck with a projected range of 230-340 miles. The company expects to begin deliveries in 2025 and hinted at a starting price of $45,400 before incentives.
Incidentally, Tesla is getting closer to launching its Cybertruck – an EV pickup truck it first announced in 2019. Analysts expect the base trim to have a starting price under $50,000. Ford Motor Co.'s F F-150 Lightning, Rivian Automotive, Inc.'s RIVN R1T, and General Motor Co.'s GM Silverado and Hummer are among the electrified pickup trucks currently available in the market.
Fisker Ocean Force E: This durable off-road package is meant to maximize the vehicle's outstanding torque and power, Fisker said, adding that it is the best fit for offroading adventure. It would come in Ultra and Extreme trims and will likely be available in the first quarter of 2024. The company did not disclose the pricing.
Fisker Pear: This low-end EV was announced by Fisker in 2022 and is offered in four trim levels. The EV will have a starting price of $29,900 and is scheduled to be available in mid-2025. It is promoted as a personal vehicle for city transportation.
The company commenced taking reservations for Ronnin and Alaska with immediate effect.
Fisker recently announced Fisker Extreme Vigyan Edition all-electric SUVs for the Indian market, and first deliveries are set to begin in the fourth quarter. The company said in early July that it produced 1,200 Fisker Ocean SUVs in the second quarter. The company began the first deliveries of its Fisker Ocean SUV in Europe in early May and followed it up with U.S. deliveries in late June. The company’s vehicles are now being manufactured by its contract manufacturer Magna International Inc. MGA in Austria.
Fisker is scheduled to report its second-quarter results on Friday before the market opens. Analysts, on average, estimate a loss of $0.28 per share, narrower than the year-ago loss of $0.36. Revenue is estimated at $159.32 million.
Fisker ended Thursday’s session up 1.28% at $6.35 and added an incremental 0.79% at $6.40, according to Benzinga Pro data. The stock is down 12.7% so far this year.
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Photo courtesy: Fisker
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