Fisker has introduced its future plans alongside preliminary 2023 and Q4 earnings, and it isn’t wanting nice for the EV producer. The corporate plans to put off 15 % of its workforce — practically 200 individuals — because it shifts from a direct-to-consumer to a Supplier Associate mannequin. The corporate is halting all investments in upcoming fashions and can resume provided that in partnership with one other automaker.
The corporate’s fourth-quarter income elevated to $200.1 million from $128.3 million in Q3. Nonetheless, its gross margin was destructive 35 %, and it misplaced $1.23 per share. Its sole EV in the marketplace, the Ocean SUV, additionally had 10,193 models produced however 4,929 automobiles delivered.
The automaker first launched its pivot to a Dealer Partner Model in January and claims it has obtained curiosity from 250 sellers throughout North America and Europe, together with 13 signed agreements. “We’re conscious that the business has entered a turbulent, and unpredictable interval,” Henrik Fisker, chairman and CEO of Fisker, mentioned in an announcement. “With that understanding and taking the teachings discovered from 2023, we have now put a plan in place to streamline the corporate as we put together for one more tough 12 months. We now have adjusted our outlook for 2024 to be way more conservative than in 2023.” The corporate plans to ship between 20,000 and 22,000 Ocean models internationally.
Fisker is at the moment negotiating with “a big automaker” for an funding and joint manufacturing of future EVs. Which means beforehand introduced car manufacturing, such because the Alaska EV pickup with humungous cup holders and a delegated cowboy hat area, might be on maintain indefinitely. Fisker initially deliberate to begin manufacturing on the Alaska EV pickup in early 2025.
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