EV maker Fisker aims to ramp up Ocean SUV production in the fourth quarter
- September 11, 2023
- Posted by: Quatro Strategies
- Categories: EVs & Battery Technology, United States
Fisker, the electric vehicle startup, is preparing to significantly increase production of its Ocean SUV in the fourth quarter of this year. The company anticipates boosting production to around 300 units per day, up from approximately 180 units. Fisker’s manufacturing is carried out in collaboration with Magna International, a Canadian auto parts supplier, which produces the vehicles for both the European and North American markets.
The startup expects a surge in vehicle deliveries in North America, with CEO Henrik Fisker stating that this uptick will occur in September.
According to the company, as of September 4th, Magna has manufactured a total of 3,123 vehicles for Fisker. Of these, just under 3,000 have been handed over to Fisker, and over 450 Fisker Oceans in the US have either been delivered to customers or are in the process of being delivered.
However, it’s worth noting that last month, Fisker adjusted its annual production target downward due to ongoing supply chain issues.
These issues overshadowed the company’s smaller-than-expected quarterly loss and its achievement of generating its first revenue from deliveries of electric sport utility vehicles. Fisker cited one specific supplier as a bottleneck in the production process, with a part requiring specialized labor taking longer to deliver than expected.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Japan’s JERA unveils $32.4 billion investment plan in renewables and low-carbon fuels
JERA, Japan’s leading power utility, has announced ambitious plans to invest 5 trillion yen (approximately $32.4 billion) over the next decade in renewable energy, new fuels such as hydrogen and ammonia, and liquefied natural gas (LNG). The company aims to achieve significant milestones by fiscal year 2035, including…
Investor enthusiasm surges as copper prices break year-long range
Fund managers have eagerly entered the copper market following a breakout from its one-year trading range earlier this month. The surge in activity is evident across global exchanges, with bullish bets rising on both the London Metal Exchange (LME) and the CME copper contracts, while market open…
Iron ore markets frozen as traders await China’s policy response
The iron ore market’s subdued trading range despite extraordinary uncertainty surrounding Chinese demand outlook reveals how commodity markets paralyzed by conflicting signals, domestic manufacturing contraction suggesting collapsing steel consumption against potential stimulus hopes and export disruptions complicating already-fragile trade dynamics, essentially surrender price discovery to await political guidance from the National People’s Congress rather than attempting to assess fundamental supply-demand balances independently.
The fact that Chinese steel exporters have ceased making offers to Middle Eastern customers due to Hormuz shipping paralysis compounds the demand destruction from domestic weakness, creating a two-front crisis for China’s massive steel industry that no amount of parliamentary pledges can immediately resolve.