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Fisker’s stock soars as EV maker to announce plan to boost sales, deliveries

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Shares of Fisker Inc. charged higher Friday, after the electric vehicle maker said it will announce in January a plan to accelerate sales and deliveries.

As part of its look into 2024, the company said it will increase the number of test-drive events in the U.S. and Europe, as it has witnessed higher sales rates after customers experienced the Fisker Ocean vehicles firsthand.

The stock
FSR,
+12.58%

shot up 12.3% in premarket trading, putting it on track to open at a one-month high. It was trading about 19% above the record closing low of $1.41 hit on Dec. 6.

Fisker also provided an update of its business in 2023, a year in which the EV maker became a “revenue-generating company.”

The company said it has produced 10,142 EVs in 2023 as it has “largely overcome” the supply chain issues results from the COVID pandemic. And deliveries have totaled about 4,700, including a jump of more than 300% from the third quarter to the fourth quarter.

The majority of the EVs delivered have been the Fisker Ocean One priced at $68,999.

The stock has plunged 79.2% year to date through Thursday, while the Global X Autonomous & Electric Vehicles ETF
DRIV,
-1.07%

has climbed 25.3% and the S&P 500
SPX,
-0.45%

has gained 24.6%.

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