Fisker Expansion In Full Force, Taps New European Markets

Fisker Inc FSR forayed into three new European markets with electric vehicle launches - Belgium, the Netherlands, and Switzerland.

The company plans to establish retail locations and delivery and service centers concentrating on proximity to major cities.

Fisker will start deliveries in new markets by the end of September, with customers benefiting from comprehensive service and sales support.

The company has already launched in other major European markets, including France, Germany, Norway, Austria, Denmark and Sweden.

This month, Fisker released additional information on the Fisker Alaska pickup truck, stating its sport pickup truck is to be built in the U.S. and has an estimated base price of $45,400. 

Also, the company stated adopting the North American Charging Standard (NACS) on its first vehicles in 2025.

Earlier this month, FSR reported second-quarter FY23 sales of $825,000, missing the analyst consensus of $20.40 million and EPS loss of $(0.25), beating the analyst consensus estimate of $(0.31).

The company held $521.8 million in cash and equivalents as of June 30, 2023. 

Price Action: FSR shares are trading higher by 1.03% at $5.87 premarket on the last check Monday.