Fisker Plans Strategy To Boost Deliveries, Trims December Production Expectations
Portfolio Pulse from Lekha Gupta
Fisker Inc (NYSE:FSR) is implementing strategies to increase deliveries, including expanding its real estate footprint and accelerating deliveries in the U.S. and Europe. The company delivered 123 vehicles as of Nov. 30 and opened its first Fisker Lounge in NYC. Fisker partnered with Boxer Property for delivery logistics and is enhancing ownership experiences with upcoming leasing solutions. Discussions are underway to sell emission credits and a pooling agreement is in place in Europe. Fisker plans to introduce new features like improved SolarSky roof and torque split in Q1 2024. The company revised its 2023 production guidance to over 10,000 units, reducing December production to prioritize liquidity and unlock over $300 million in working capital. FSR shares rose 1.90% to $1.61 in premarket trading.
December 01, 2023 | 4:27 pm
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Fisker Inc is expanding its delivery capabilities and customer experience, partnering for logistics, and planning new features for its vehicles. It has revised its production outlook for 2023 to prioritize working capital.
The strategic initiatives and partnerships are likely to be viewed positively by investors as they can potentially lead to increased sales and improved customer satisfaction. The revision of production guidance to prioritize liquidity might raise concerns, but the unlocking of working capital is generally a positive sign for financial stability. The premarket stock price increase indicates a positive short-term investor reaction.
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IMPORTANCE 85
RELEVANCE 100