Fisker (FSR) Q2 2022 earnings

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

Patrick T. Fallon | AFP | Getty Images

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

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

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

CEO Henrik Fisker confirmed the corporate and its manufacturing companion, world auto provider Magna International, are on monitor to start manufacturing of the Ocean at a Magna-owned manufacturing facility in Austria later this 12 months.

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

The firm 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 growth of the Ocean and fund its operations by at the least the tip of 2022, it mentioned.

Fisker additionally confirmed that its second car, a lower-cost mannequin referred to as the PEAR, will likely be constructed by Foxconn Technology Group within the former Lordstown Motors manufacturing facility in Ohio beginning in 2024.

The automaker plans to launch a 3rd mannequin, a sports activities automotive referred to as Ronin, in late 2024. A show of that prototype is predicted in mid-2023.

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