Deliveries Accelerated and Ownership Experience Enhanced as Fisker Expands Real Estate Footprint
Fisker Inc., the California-based electric vehicle manufacturer, is making significant strides in its mission to create sustainable and emotional electric vehicles. In a recent business update for the month of November, the company announced its sharpened focus on operations and the execution of its business plan. With a renewed emphasis on delivering vehicles to customers and enhancing the ownership experience, Fisker is positioning itself as a major player in the electric vehicle market.
Increasing Pace of Deliveries and Growing Current Markets:
Fisker has overcome early logistics challenges and is now sustaining an increasing pace of deliveries in the US and Europe. The company had 123 vehicles either delivered or in transit to customers as of November 30th. While the original forecast may not have been met, Fisker’s Chairman and CEO, Henrik Fisker, emphasized the impressive sales and delivery acceleration, especially considering the current market conditions and negative sentiments around electric vehicle sales. Fisker aims to surpass the first-year delivery numbers of other Western EV startups and continues to focus on growing its current markets and improving sales and service offerings for the Fisker Ocean.
Expanded Real Estate Footprint and Improved Logistics:
To support its delivery efforts, Fisker has expanded its real estate footprint and improved its logistics capabilities. The company has opened its first Fisker Lounge in New York City’s Meatpacking District and established its own locations globally, staffed by an ever-growing number of Fisker employees. Additionally, Fisker has partnered with multiple transportation logistics partners to ensure the efficient movement of Fisker Oceans to delivery locations. With 14 facilities in the US and 19 facilities in European launch markets, Fisker is strategically positioned to meet the growing demand for its electric vehicles.
Deliveries to Commence in Canada:
Fisker has obtained all the necessary approvals, licenses, and insurance requirements to sell vehicles in Canada. The company will begin transporting vehicles from US ports to Canadian customers in December, with financing provided by Scotiabank. This expansion into the Canadian market further solidifies Fisker’s global presence and demonstrates its commitment to providing sustainable mobility solutions to a wider audience.
Enhanced Outreach and Improved Ownership Experience:
Fisker is actively engaging with its reservation holders, aiming to convert them into customers in 2023. With a team of over 150 customer relations advisors and administrators, the company is addressing various issues and improving the ownership experience for existing customers. Fisker has conducted over 3,500 test drives in the US and Europe, allowing potential customers to experience the performance and features of the Fisker Ocean firsthand. The company has also updated its website and introduced a direct-to-order process, streamlining the purchasing experience for customers.
Leasing Solutions and Future Plans:
Fisker is set to launch leasing solutions for the US, Canada, and Europe, providing customers with more flexibility in acquiring their electric vehicles. The company is also planning for the future, consolidating markets and considering import requests and fleet orders for 2024. Fisker expects to provide guidance for the next year by the end of December, further solidifying its commitment to long-term growth and sustainability.
Strategic Partnerships and Emission-Credit Pooling Agreement:
Fisker is in advanced discussions with several automakers for potential strategic partnerships, which would further enhance its position in the electric vehicle market. The company is also pursuing agreements with major automakers to sell EPA Greenhouse Gas emission credits. In Europe, Fisker has entered into a pooling agreement to monetize credits for its 2023 vehicle registrations. These initiatives not only contribute to Fisker’s revenue stream but also demonstrate its commitment to reducing emissions and promoting sustainability.
Finance and Accounting Leadership Strengthened:
Fisker has bolstered its finance and accounting team with the addition of Dan Quirk as EVP, Finance and Accounting. With over 30 years of experience, including 18 years as an Assurance Partner at Ernst & Young LLP, Quirk brings valuable expertise to the company. Fisker has also engaged nationally recognized consulting firms to assist with various projects and ensure timely regulatory filings.
Conclusion:
Fisker’s recent business update highlights the company’s commitment to operational excellence, customer satisfaction, and sustainable mobility. With an increased focus on deliveries, enhanced ownership experience, and expansion into new markets, Fisker is positioning itself as a key player in the electric vehicle industry. As the company continues to forge strategic partnerships and explore new opportunities, Fisker is poised to make a significant impact on the future of transportation.
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