Henrik Fisker stands with the Fisker Ocean electric car after it was unveiled on the Manhattan Beach Pier before the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California.

Patrick T. Fallon | AFP | Getty Images

Californian EV startup Fisker said on Wednesday that it now has more than 56,000 reservations for its Ocean electric SUV and confirmed that it is still on track to start production in mid-November.

The ads were part of Fisker’s second quarter earnings report. Here are the key numbers:

  • Loss per share: 36 cents vs. 41 cents expected by Refinitiv consensus estimates
  • Net loss: $106 million vs. $122.1 million reported in the first quarter of 2022.
  • Booking: More than 56,000 compared with more than 45,000 when it reported first-quarter results in May.

CEO Henrik Fisker confirmed the company and its manufacturing partner, the global automotive supplier Magna Internationalon track to begin production of the Ocean at a Magna-owned factory in Austria later this year.

Fisker and Magna completed 55 Ocean prototypes as planned. All are currently undergoing final quality testing in preparation for the November launch, Fisker said.

The company had $851.9 million in cash at the end of the second quarter, down from about $1 billion at the end of March, but enough to complete the Ocean development and fund its operations through at least the end of 2022, it said.

Fisker also confirmed that its second car, a low-cost model called PEAR, will be made in Taiwan Foxconn Technology Group in the former Lordstown Motors factory in Ohio starting in 2024.

Fisker plans to release a third model, a sports car called the Ronin, in late 2024. The Ronin prototype is scheduled to be shown in mid-2023.

This is a developing story. Check for updates.


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