Fisker has introduced its future plans alongside preliminary 2023 and This fall earnings, and it is not trying nice for the EV producer. The corporate plans to put off 15 p.c of its workforce — almost 200 folks — because it shifts from a direct-to-consumer to a Vendor Associate 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. Nonetheless, its gross margin was destructive 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 Vendor Associate Mannequin in January and claims it has acquired curiosity from 250 sellers throughout North America and Europe, together with 13 signed agreements. “We are aware that the industry has entered a turbulent, and unpredictable period,” Henrik Fisker, chairman and CEO of Fisker, stated in an announcement. “With that understanding and taking the lessons learned from 2023, we have put a plan in place to streamline the company as we prepare for another difficult year. We have adjusted our outlook for 2024 to be much more conservative than in 2023.” The corporate plans to ship between 20,000 and 22,000 Ocean fashions the world over.
Fisker is at present negotiating with “a large automaker” for an funding and joint manufacturing of future EVs. Because of this beforehand introduced car manufacturing, such because the Alaska EV pickup with humungous cup holders and a chosen cowboy hat house, will likely be on maintain indefinitely. Fisker initially deliberate to start out manufacturing on the Alaska EV pickup in early 2025.