Why EV Manufacturer Fisker Shares Are Rising Today

Fisker Inc. FSR shares are trading higher after providing a December 2023 business update.

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.

 In 2023, Fisker produced 10,142 Fisker Oceans and delivered approximately 4,700 vehicles.

Customer deliveries began in June, with significant deliveries commencing in September and October.

Fisker began deliveries in Canada in December and is now operating in 12 markets worldwide. 

The company said it has opened four flagship Lounges (Los Angeles, New York City, London, Munich) and has multiple delivery and service locations in both the U.S. and Europe to bolster the company's delivery infrastructure.

In January 2024, the company intends to announce a plan to further accelerate sales and deliveries. This plan will align with its production capabilities and strong demand for the Fisker Ocean SUV.

Fisker will increase the number of test-drive events it conducts in the U.S. and Europe, as the company has witnessed higher sales rates after customers experienced the Ocean firsthand.

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Price Action: FSR shares are trading higher by 10.6% to $1.67 premarket on the last check Friday.

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