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Fisker adds dealerships to direct sales model to boost EV sales

Electric vehicle company Fisker said on Thursday that it would add dealerships alongside its direct-to-customer distribution model to expand its sales and delivery network. The California-based company, which sells its vehicles across the United States and Canada apart from other markets in Europe, has only two showrooms or Fisker Lounges in North America — one in Los Angeles and the other in New York. In other locations, it has retail stores called Fisker Center+. Fisker said, in Europe, it will continue to offer direct sales but will bring onboard partners for sales and distribution. While the EV startup made more than 10,000 vehicles in 2023, it delivered only about 4,700 units of the Ocean sport utility vehicles due to distribution constraints. "We are evolving our business model and intend to add as many as 50 dealer partners in the US and Canada and a similar number of dealer locations in Europe this year," CEO Henrik Fisker said. The company expects to send its first Ocean vehicles to new dealers by the end of the first quarter, Fisker said, adding that it has been in talks with dealer partners since November 2023. Lucid, Rivian and Fisker have followed an online and direct-to-consumer model that was started by Elon Musk-led Tesla, in their efforts to cut out middlemen that dealership models have. Earlier this week, Vietnamese electric car maker VinFast Auto said that it had signed its first five dealerships in Texas, New York, Kansas and North Carolina. Swedish EV maker Polestar also uses a dealership model. 

Recharge Wrap-up: Model X pinch sensor update, Karma plans first store

Tesla has improved Model X pinch sensor function in its latest over-the-air update. As we've seen, the pinch sensors already stop the falcon wing doors from completely shutting when they sense an obstruction. Now, though, the doors retract slightly after the sensors are triggered. While the pre-update doors didn't appear to do as much damage to human fingers as they do to various foodstuffs, it definitely looked uncomfortable, especially when one's hand is stuck in the partially closed door. Now, any pinch that does occur should be brief. See the updated sensors at work in the video above, and read more from Teslarati. Karma Automotive will move to Kawasaki's former headquarters in Irvine, California where it will also open its first store. The revival of the now defunct Fisker will sell its Revero plug-in hybrid through both dealerships and company-owned stores like the one planned for its new two-building campus. The property owner, Bixby, had planned to renovate the site, but now says Karma will make its own improvements. Bixby said it was seeking, "a progressive-minded tenant that would value the unique configuration," and appears to have found just that in Karma. Read more at Electrek, or from the OC Register. San Francisco is asking residents for help in expanding its subways. Using an online tool called Subway Vision, users can draw their own subway lines and stations that they'd like to see built and submit them to planners. Listening to the public is a useful tool for the city because, as Grahm Satterwhite, San Francisco Municipal Transportation Agency's principal planner, admits, "Transportation planners may be too close to a problem to see the solution." This approach allows the subway expansions to "reflect the vision of not just a few transportation planners, but of all San Franciscans," he says. Read more from FastCo.Exist. Toyota is continuing its commitment to Yellowstone National Park with a sustainable Youth Campus for environmental education. The automaker donated $1 million to Yellowstone for the facility, which is seeking Living Building Challenge certification. It will have onsite wastewater treatment for its locally sourced water usage, and will generate all of its electricity needs from photovoltaic panels, with excess to put back into the grid. The campus will have classrooms and residences for students and staff for its youth programs.

Fisker misses second-quarter production target due to parts shortage

Fisker missed its production target for the second quarter due to shortage of components, the electric vehicle startup disclosed on Friday, sending its shares down 2% in premarket trading. The California-based company produced 1,022 units of its Ocean SUV in the quarter ended June, lower than 1,400-1,700 vehicles it had projected. "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 in an exchange filing, adding that it expected to produce over 1,400 vehicles in early July. Fisker, which will report its second-quarter earnings on August 4, produced 55 vehicles in the March quarter. It began deliveries in the United States last month. The production figures come as some EV firms face dwindling cash reserves, pressured by high costs related to production ramp-ups and inflation. Last month, Lordstown Motors filed for bankruptcy protection, while Electric Last Mile Solutions filed the same last year. In contrast, EV behemoth Tesla and Rivian Automotive beat market estimates for second-quarter deliveries. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.