Fisker is expanding its retail teams and adding delivery centers in Europe and the U.S. in preparation for deliveries of up to 300 Ocean crossovers a day as it ramps up production, the EV startup said.
Bank of America said Fisker should see a jump in revenue, earnings and volume next year on rising Ocean production. The bank's analysts also see strong market potential for the 2025 Alaska pickup that will share the Ocean platform.
After trimming its 2023 production forecast significantly in August, Fisker said it reached a production milestone of 5,000 vehicles as of Sept. 26. The stylish two-row Ocean midsize crossover launched in June.
Fisker, which sells directly to customers, did not give a detailed timeline for its delivery plans. A sales volume of 300 Oceans a day would require production of about 9,000 a month.
The U.S.-based automaker slashed its 2023 production forecast to a range of 20,000 to 23,000 Ocean crossovers from its previous estimate of 32,000 to 36,000 because of a supplier issue, the company said last month.
Fisker said it had delivered 900 customer vehicles as of last Tuesday, with several hundred more expected by the end of the week.
"We want to thank our customers for their patience," said CEO Henrik Fisker in a press release. "As we complete the third quarter and move into the fourth, we our preparing to significantly increase our pace of deliveries."
The CEO said the automaker is "expanding both our teams and physical locations and we are targeting deliveries of 300 vehicles per day to meet strong demand for the Fisker Ocean."