Fisker Reports Lower-Than-Expected Q2 Production Due To Supply Shortages
Portfolio Pulse from Lekha Gupta
Fisker Inc (NYSE:FSR) reported lower-than-expected Q2 2023 vehicle production volumes due to supply shortages, producing 1,022 Fisker Ocean SUVs instead of the targeted 1,400-1,700. However, the company surpassed its targeted assembly rate of 80 units daily and expects production to exceed 1,400 in early July. Fisker plans to boost battery pack capacity to protect the manufacturing timeline and reach higher volumes next year. FSR shares are trading higher by 6.1%.
July 07, 2023 | 5:41 pm
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Fisker's lower-than-expected Q2 2023 production could negatively impact investor confidence. However, the company's plans to boost production and battery pack capacity may offset this. FSR shares are currently trading higher.
Fisker's lower-than-expected production could have led to a decrease in share price due to potential investor concern. However, the company's plans to increase production and improve battery pack capacity, as well as the current increase in share price, suggest a positive outlook.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100