EV Startup Fisker Embraces Dealership Model To Boost Sales - What's On The Cards?

Fisker Inc FSR said it is developing a Dealer Partnership model in North America, whereas in Europe, it intends to pursue a hybrid of direct sales and dealer arrangements.

The company aims to add as many as 50 dealer partners in the U.S. and Canada and a similar number of dealer locations in Europe this year. 

The dealer partnership approach is to boost the expansion of Fisker’s sales, delivery, and test drive network.

The company expects its first dealers to start receiving vehicles by the end of Q1 2024.

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Fisker’s move is to align with its asset light business model and to scale for acceleration of Fisker Ocean deliveries and higher volume production of additional future models.

“As a high-growth startup, Fisker is transforming its strategic efforts by putting in place the brand accessibility and sales channels required to satisfy increasing demand for the Fisker Ocean and to prepare for launch of additional future models,” said Chairman and CEO Henrik Fisker.

The EV maker will sign up sales and distribution partners in its European markets while continuing direct sales in the region.

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

Price Action: FSR shares are trading lower by 1% at $1.4750 on the last check Thursday.

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