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Fisker (FSR) Q2 2022 earnings

Henrik Fisker stands with the Fisker Ocean electrical automobile after it was unveiled on the Manhattan Seashore Pier forward of the Los Angeles Auto Present and AutoMobilityLA on November 16, 2021 in Manhattan Seashore, California.

Patrick T. Fallon | AFP | Getty Photographs

California-based EV startup Fisker stated Wednesday it now has greater than 56,000 reservations for its Ocean electrical SUV, and confirmed that it is nonetheless on observe to start out manufacturing in mid-November.

The bulletins have been a part of Fisker’s second-quarter earnings report. Listed here are the important thing numbers:

  • Loss per share: 36 cents vs. 41 anticipated by Refinitiv consensus estimates
  • Internet loss: $106 million vs. $122.1 million reported within the first quarter of 2022.
  • Reservations: Greater than 56,000, up from greater than 45,000 when it reported its first-quarter ends in Might.

CEO Henrik Fisker confirmed the corporate and its manufacturing accomplice, international auto provider Magna International, are on observe to start manufacturing of the Ocean at a Magna-owned manufacturing unit in Austria later this 12 months.

Fisker and Magna have accomplished 55 Ocean prototypes as deliberate. All are presently present process ultimate high quality testing in preparation for the November launch, Fisker stated.

The corporate had $851.9 million in money remaining on the finish of the second quarter, down from about $1 billion on the finish of March however sufficient to finish improvement of the Ocean and fund its operations by at the least the tip of 2022, it stated.

Fisker additionally confirmed that its second automobile, a lower-cost mannequin known as the PEAR, can be constructed by Taiwan’s Foxconn Technology Group within the former Lordstown Motors manufacturing unit in Ohio beginning in 2024.

Fisker plans to launch a 3rd mannequin, a sports activities automotive known as Ronin, in late 2024. It plans to indicate a prototype of the Ronin in mid-2023.

It is a creating story. Please examine again for updates.

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