Fisker has introduced its future plans alongside preliminary 2023 and Q4 earnings, and it is not trying nice for the EV producer. The corporate plans to put off 15 p.c of its workforce — practically 200 folks — because it shifts from a direct-to-consumer to a Vendor Companion 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. Nevertheless, its gross margin was damaging 35 p.c, 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 a press release. “With that understanding and taking the teachings discovered from 2023, now we have put a plan in place to streamline the corporate as we put together for one more troublesome yr. We now have adjusted our outlook for 2024 to be far more conservative than in 2023.” The corporate plans to ship between 20,000 and 22,000 Ocean models internationally.
Fisker is at present negotiating with “a big automaker” for an funding and joint manufacturing of future EVs. Because of this beforehand introduced automobile manufacturing, such because the Alaska EV pickup with humungous cup holders and a chosen cowboy hat area, will likely be on maintain indefinitely. Fisker initially deliberate to start out manufacturing on the Alaska EV pickup in early 2025.
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