Fisker Inc.’s stock jumped 15% Tuesday, after the electric vehicle company said it expects to reach its target of deliveries of 300 vehicles a day later this year.
The Los Angeles-based company
FSR,
said it has manufactured 5,000 Fisker Ocean all-electric SUVs, up from 3,123 as of Sept. 7, the last time it offered an update.
The company has delivered over 900 customer vehicles in its Europe and U.S. launch markets with several hundred more expected to be delivered this week.
“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,” CEO Henrik Fisker said in a statement.
The $68,999 Fisker Ocean Extreme which was launched last year has a range of 360 miles.
In its most recent quarter, Fisker posted a narrower-than-expected loss but revenue and EV production that missed Wall Street expectations, and it also lowered its full-year production outlook.
The company unveiled three new concept EVs at the August event that it hopes to bring to market starting in 2025: The Ronin, which the company called an “ultra luxury sports car” with limited production and starting around $385,000; the Pear, Fisker’s $30,000 electric crossover that was already in the works; and the Alaska, an electric pickup truck starting at $45,400 that also had been teased before. The company launched the Ocean last year.
The stock has fallen 27% in the year to date, while the Global X Autonomous & Electric Vehicles ETF
DRIV
has gained 17% and the S&P 500
SPX,
has gained 13%.
This story originally appeared on Marketwatch
