Fisker hits production milestone and is making progress with Fisker Ocean deliveries to meet strong demand for its electric SUV.
Today, Fisker has officially announced the achievement of a significant production milestone. The company has now produced 5,000 Fisker Oceans with contract manufacturing partner Magna Steyr. Remarkably, within a span of fewer than 20 days since their last production update earlier this month, Fisker and Magna have assembled an impressive 1,877 vehicles. This achievement demonstrates the effectiveness of Fisker’s asset light strategy of teaming up with a contract manufacturer to make their top electric SUV.
Fisker has also achieved substantial progress in delivering the Fisker Ocean, up from 775 earlier this month. The company has announced that it has delivered over 900 Fisker Ocean vehicles to customers. This indicates that Fisker’s revenue for Q3 2023 is expected to surpass $60 million, marking a significant increase compared to the previous quarter. This update coincides with Fisker’s initiation of an accelerated delivery process to meet the strong demand from enthusiastic customers. Fisker is actively striving to achieve a milestone delivery rate of 300 vehicles per day across the United States and Europe.
How Fisker Is Achieving It
Skeptics have already cast doubt on Fisker’s plans. They are questioning the whereabouts of the 5,000 fully built vehicles and how Fisker intends to meet its aggressive delivery schedule, particularly in the United States. Let’s now address these concerns.
First and foremost, Fisker has established experience centers throughout Europe. As we’ve seen, electric SUVs are being shipped daily from the factory in Austria to various locations across the continent. Fisker Oceans are constantly en route to Fisker Center+ locations in each of the company’s launch markets. Fisker’s delivery network in Europe is finely tuned and continually strengthening.
Turning our attention to North America operations, cargo ships are regularly picking up Fisker Oceans at European ports. These electric vehicles frequently traverse the Atlantic Ocean and arrive at United States ports on a consistent basis. Then, Fisker utilizes various car hauler networks to transport its vehicles to various distribution points across the United States.
Fisker’s US Distribution Strategy
As part of Fisker’s asset-light approach, the company aims to maximize efficiency while minimizing its environmental impact. Therefore, Fisker has partnered with ADESA, a subsidiary of Carvana, leveraging their extensive real estate holdings. Carvana acquired ADESA’s wholesale vehicle auction business last year. It consists of 56 locations spanning the United States, encompassing approximately 6.5 million square feet of buildings on over 4,000 acres.
As some Fisker customers may have noticed early on, their pickup location within their Fisker account indicated an ADESA facility. ADESA addresses have been appearing with various locations such as Arizona, Georgia, Indiana, Massachusetts, and more. This signifies that Fisker is harnessing this expansive network, specifically designed for vehicle preparation and delivery.
Once vehicles are ready at these distribution points, Fisker leverages regional car transporters with trailers to promptly deliver electric SUVs to customers. For example, last week we witnessed the first-ever transport of a Fisker Ocean in an enclosed carrier to Colorado. This last mile delivery was followed by another report this morning of additional deliveries in the Rocky Mountain state. With 300 customer deliveries a day on the horizon, Fisker is set to reaching yet another milestone!
“We want to thank our customers for their patience as we have refined our delivery processes. As we complete the third quarter and move into the fourth, we are preparing to significantly increase our pace of deliveries in the US and Europe. We are expanding both our teams and our physical locations, and we are targeting deliveries of 300 vehicle per day to meet strong demand for the Fisker Ocean. I’m tremendously pleased that our company has geared up to achieve these milestones.Henrik Fisker, Chairman & CEO, Fisker Inc.
Reserve Your Fisker Ocean
Reserve your Fisker Ocean, PEAR, Alaska, or Ronin at https://fiskerinc.com/reserve using referral code DDK87H.
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