Fisker Plans Strategy To Boost Deliveries, Trims December Production Expectations

Fisker Inc FSR has several initiatives in place to boost deliveries.

What Happened: The Manhattan Beach, California-based company developed a new strategy to grow its real estate footprint and accelerate U.S. and European deliveries. Up to 123 vehicles were delivered to customers on Nov. 30.

Fisker also opened its first Fisker Lounge in New York City's Meatpacking District and improved delivery capabilities by establishing its own locations globally.

Fisker partnered with Boxer Property to use their real estate portfolio for vehicle delivery and logistics. The automaker also enhanced the ownership experience and will soon launch leasing solutions in Europe and North America.

Fisker is also in discussion with other automakers to sell emission credits in the U.S. and has entered into a pooling agreement in Europe.

In the first quarter of 2024, Fisker plans further initiatives to add features for improving SolarSky roof capabilities and enhance the torque split between front and rear wheels, among others.

Apart from this, the company made several changes to its finance and accounting team and hired several new senior leaders.

Adjusting production outlook: Fisker revised production guidance to just over 10,000 units for 2023, with a planned strategic reduction in December production to prioritize liquidity to unlock over $300 million of working capital. 

Price Action: FSR shares are trading higher by 1.90% at $1.61 premarket on the last check Friday. 

Now Read: Fisker Chief Accounting Officer Resigns Less Than Two Weeks After Joining