Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 3 (Xinhua)-- Electric car startup Fisker has announced its latest results and increased its expected production again two weeks before the launch of Fisker's first electric car, the Ocean SUV, and the first driverable Pear prototype will be unveiled later this month.

The company said on Wednesday that it would start production of its first model, the Ocean SUV, later this month as planned, with more than 62000 orders so far, compared with more than 56000 in early August.

Fisker said research and development of its second low-cost electric car, the Pear, was already in advance.

The company said more than 5000 companies had ordered the pear, which will be built by Foxconn Technology Group at its former Lordstown Motors plant in Ohio and is expected to begin mass production in 2024.

Henryk Fisk, chief executive, said the company planned to produce 42400 Oceans models by the end of next year. Ocean will start production in Gratz, Austria, on November 17. Fisker will deliver 15 SUV fleets to partner Magna in December.

Most of these vehicles will be produced in the second half of 2023, Fisker said. Fisker said his team is exploring the idea of moving Ocean production to the United States by 2025, but there are no firm plans yet.

CTOnews.com learned that the carmaker went public through SPAC trading in 2020. The report said that the net loss for the quarter ended September 30 widened to $149.3 million, or 49 cents per share. By contrast, the net loss was $109.8 million, or $37 per share, unchanged from the same period last year.

Fisker's third-quarter revenue was $14 million, down slightly from $15 million in the same period last year. In a quarterly earnings call on Wednesday, the carmaker outlined its quarterly production plans for 2023.

The company had cash of $824 million at the end of the quarter, compared with an operating loss of $140 million and a net loss of $149 million in the third quarter.

Fisker plans to produce "more than 300" Ocean models by the first quarter (January-March), rising from 8000 in the second quarter to 15000 in the third quarter, and the remaining 42400 vehicles need to be completed in the fourth quarter, with delivery expected to begin in the second quarter.

"competing with Tesla Model Y, Fisker Ocean Electric SUV will make its debut in the UK this month."

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