2023 Fisker Ocean on 2040-cars

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Fisker cuts production forecast as challenges mount for EV startups

Fisker Inc lowered its 2023 production target on Tuesday, the latest sign that U.S. electric-vehicle startups were struggling to ramp up output in the face of supply chain constraints, easing demand and a tight cash position. Shares of the company slumped 12% in premarket trading. This comes just days after the automaker announced it had delivered its first Ocean SUV in Denmark, followed by its first vehicle registration in Germany. The results follow weak earnings and a production outlook cut overnight from Lucid Group Inc, sending its stock tumbling 10%. U.S. EV startups' hopes of shaking up the industry collided with rising interest rates and sluggish demand, with many grappling with production challenges. Market leader Tesla has also cut prices to stoke demand. Fisker now expects to produce between 32,000 and 36,000 units in 2023, compared with its previous target of 42,400 cars. The company blamed the cut on supply chain issues and an updated timing for homologation, or the certification for roadworthiness. Its 32-cent per share adjusted loss for the first three months of the year was also larger than Wall Street estimates for a 30-cent loss, according to Refinitiv data. As of March 31, Fisker had about $652.5 million in cash and cash equivalents, compared with $1.04 billion a year earlier. The company expects to produce between 1,400 and 1,700 vehicles in the second quarter. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Green Plants/Manufacturing Fisker SUV Electric

Karma Automotive holding another hiring fair

Tesla Motors has already started putting out calls for the thousands of workers it will need at its massive Gigafactory outside of Reno, Nevada. Now, Fisker Karma Automotive is doing the same for its not-as-massive plant being built in the state next door. To a smaller extent, of course. Karma, which used to make the high-end Karma extended-range plug-in when it was still Fisker, is planning a job fair for prospective workers in Southern California's Inland Empire east of Los Angeles, according to local paper the Press-Enterprise. Specifically, Karma's job fair will take place October 10 in Moreno Valley. The company will pay as much as $26 an hour to fill its positions, and the automaker needs everything from welders to painters to fabricators, oh my. This isn't Karma's first job fair this year. This summer, the company did the same in an effort to hire about three-dozen people. The automaker didn't specify how many people it was looking hire this time out. Moreno Valley, which is about 60 miles east of Los Angeles, is where Karma is building a 556,000-square-foot factory in its return to action after about three years being out of business. The company, which is now based in Costa Mesa, CA, has said it was looking to bring in about 150 for its new factory. Fisker went bankrupt in 2013 after building about 2,600 of its Karma PHEVs. China-based Wanxiang bought Fisker out of bankruptcy early last year for $149.2 million. There were rumors that the company would rename the Karma vehicle the Elux, but there is no mention of that name on the new Karma Automotive website. Featured Gallery 2012 Fisker Karma: Second Drive View 30 Photos News Source: Press-Enterprise Green Plants/Manufacturing Fisker California plant extended-range plug-in karma automotive

Ford Mustang GTD, Acura ZDX and Pebble Beach recap | Autoblog Podcast #795

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. In the news, there were a lot of recent unveilings, including the Ford Mustang GTD, Pininfarina B95, Lamborghini Lanzador, Acura ZDX and Fisker Alaska. We recap Pebble Beach and the Woodward Dream Cruise. Joel is fresh off a track drive of the Audi R8 (at Laguna Seca!), and we give ann update on our long-term Toyota Sienna minivan. Finally, we take to Reddit to help pick a new car with a V8 in this week's "Spend My Money" segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #795 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2025 Ford Mustang GTD revealed as a race car for the road — it costs $300,000 Pininfarina B95 revealed, 0-60 in 2 seconds, and at $4.8 million is the priciest EV ever Lamborghini Lanzador concept is a megawatt wedge previewing the first Lamborghini EV 2024 Acura ZDX revealed with up to 500 horsepower Fisker Alaska electric pickup specs, price and production plans revealed Cars we're driving 2023 Audi R8 Quattro Long-term 2023 Toyota Sienna Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Acura Audi Fisker Ford Lamborghini Toyota Concept Cars Electric Future Vehicles Luxury Performance