Fisker Ocean records surge in production & deliveries in Q3 2023

Fisker Ocean records surge in production & deliveries in Q3 2023

California-headquartered electric automobile manufacturer Fisker Incorporated has announced its much-awaited financial results for the third-quarter 2023, revealing an encouraging surge in production and deliveries of the Ocean electric SUV. In the dynamic landscape of Q3 2023, Fisker recorded an impressive surge in the production of the Fisker Ocean battery-electric mid-size crossover SUV, reaching 4,725 units. This figure represents a significant jump from 1,022 units in Q2 and just 55 units in Q1 period of this year. Crafted at Magna Steyr's Graz, Austria-based production facility, the Fisker Ocean has unquestionably showcased its growing appeal on the global stage.

Customer deliveries also increased, with a total of 1,097 EVs reaching eager customers across various European markets and the United States in the July through September period of this year, marking a substantial increase from a mere 11 units delivered in Q2. However, the most intriguing revelation surfaced in the month of October, when Fisker outpaced its own Q3 performance by successfully delivering more than 1,200 Ocean SUVs to customers, surpassing the total deliveries of the whole Q3 period.

This fast-tracked pace of production and deliveries hints at a potentially revolutionary development, paving Fisker's way toward surpassing rival Lucid in EV sales, possibly in the ongoing quarter. The company attributed the rapid stride to an optimization of last-mile logistics and a strategic growth of its delivery infrastructure.

Sharing its quarterly performance, Fisker said, “Deliveries have accelerated as Fisker begins optimizing last mile logistics and expanding its delivery infrastructure to achieve further scale effects in Q4 and beyond.”

At present, the Fisker Ocean electric SUV is making its way to customers in a total of 10 countries, 9 of which are in Europe. Looking ahead, the company intends to expand its sales to encompass Canada and the Netherlands within the current quarter. Spain, Italy and Portugal are slated to get the Ocean SUV starting in Q1 of 2024. Additionally, the company has plans to launch the first Fisker Lounge in Shanghai in January 2024.

Henrik Fisker, Chairman & Chief executive Officer (CEO) of Fisker, also highlighted the significance of the third quarter, noting that the company successfully delivered 1,097 units of the Fisker Ocean across two continents, with the United States accounting for the largest delivery volume in the last quarter.

Financially also, the quarterly result marked a milestone for Fisker, as the company recorded meaningful automotive sales revenue of $71.8 million for the first time.

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