Fisker delivers 4,700 electric cars in 2023, shares jump By Reuters

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<span>© Reuters. FILE PHOTO: Electric car company Fisker shows off its Alaska pickup truck in Huntington Beach, California, August 3, 2023. REUTERS/Mike Blake/File Photo</span><br />
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<p>(Reuters) &#8211; Fisker (NYSE:) said on Friday its electric vehicle deliveries jumped more than four-fold during the final quarter, helping it hand over about 4,700 vehicles for the year.</p>
<p>The rise in quarterly sales volume was primarily driven by strong demand for the Fisker Ocean SUV, priced at about $69,000, the company said. </p>
<p>Fisker started making its first deliveries to U.S. customers in June. </p>
<p>The company will announce a plan in January to boost sales and deliveries to align production capacity with strong demand for the Ocean SUV, Fisker said.</p>
<p>Shares of the California-based EV company were up more than 10% in premarket trading. They have lost about 79% so far this year.</p>
<p>Smaller EV firms are facing dwindling cash reserves, pressured by high costs related to production ramp-ups and price cuts to boost demand.</p>
<p>Fisker, which has a deal with <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Magna International </span></span> (NYSE:)&#8217;s Austrian unit to manufacture its cars, made 10,142 vehicles in 2023. </p>
<p>The company, however, slashed its annual production forecast twice in the past two months as it slowed down production to meet working capital needs. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/fisker-delivers-4700-electric-cars-in-2023-shares-jump-3264681">Source link </a></p><p>The post <a href="https://forextraderhub.com/fisker-delivers-4700-electric-cars-in-2023-shares-jump-by-reuters.html">Fisker delivers 4,700 electric cars in 2023, shares jump By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>