• EV maker Fisker produced more than 1,000 vehicles last quarter, but still fell short of its targets.
It's been a while since we heard any real updates about the progress or not being made by Fisker, another of the new startup EV makers trying to make a go of it in the electric-vehicle sector.
The company has begun production of its first model, the Ocean SUV. Its mid-year review includes some good news, as well as some not-so-good news. On the positive side, production is on the rise, and the number of units sold passed the 1,000 mark in the second quarter of the year (1,022). On the negative side, the company missed its production target for the same period due to a shortage of components. The company confirmed the shortfall this last Friday, sending its shares down 2 percent before the market opened.
Fisker was aiming to produce between 1,400 and 1,700 vehicles in the second quarter of the year.
“A few suppliers had challenges ramping to the targeted 2Q levels, as they did not receive components from sub-suppliers in a timely manner,” Fisker said. The firm expects to produce more than 1,400 vehicles in early July.
We'll see.
This comes at a time when many new companies in the growing EV sector are experiencing difficulties as their cash reserves dwindle due to rising costs related to production activities, as well as rising inflation and interest rates.
Only last month, fledgling company Lordstown Motors filed for bankruptcy protection.
Conversely, there are success stories. In addition to Tesla, Rivian is well on its way to achieving its goal of producing 50,000 vehicles this year.
