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Fisker brings new Ronin, Alaska, Pear, and Ocean Force E to 'Product Vision Day'

With the Fisker Ocean reaching customers and a so-far successful first wave of media drives, company CEO Henrik Fisker took the stage in Huntington Beach, California last night to go over the products that are part of Fisker, Inc's second chapter. These are the Pear city car, which Fisker expects to be the company's best-seller; the Ronin four-door convertible flagship, produced in limited numbers; the Alaska pickup, built on an extended version of the Ocean's platform; and the Force E off-road package for the Ocean, available as a factory option or a dealer-installed kit after purchase. The CTO was also there to discuss the new Blade processing platform that will make all of the company's in-car tech dreams come true and debut with the Pear. We'll start with the Pear. It's built on a new SLV1 platform, an acronym Fisker said stood for "simple, versatile, and volume." We're not sure what the L is for, perhaps light, based on the claim the Pear uses 35% fewer parts than an equivalent city car. Engineers achieved this with measures like producing a single symmetrical armrest piece that fits all four doors. Parked on stage next to an Ocean, the Pear is clearly smaller, but it doesn't look at all small. We'll need to see it in the open with other objects for reference to understand the sizing. There were neat design elements like the giant windshield, the concave hatch glass attached at the top to the spoiler, a flash glass panel arcing over the roof at the rear three-quarter, and a taillight that formed an oval around the backlight. The hero car also had a roof full of solar panels.  The way the CEO talked about Pear features, the target audience of urban dwellers moves in packs that need places to store lots of stuff and maybe sleep. "Everything in the dash is about storage," he said, revealing an instrument panel with a central screen surrounded by recesses, some of the recesses topped by rubber straps that secure goods. He didn't demonstrate the front trunk, which he called the front boot in UK English, then shortened to "froot." He did demonstrate the Houdini trunk. When an owner wants to load the rear bay, the hatch glass disappears into the lower metal portion of the hatch, then that lower potion slides down into the bumper. A neat piece that doesn't need room in a tight parking spot, takes a lot longer than opening a hatch, though.

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.

Fisker teases Ronin GT four-door before August 3 investor day

Fisker feels it's far enough along in the automaking process and has enough product in the near-term pipeline to hold an investor day. That will come on August 3. Whetting appetites, the CEO teased the Ronin GT that's been in the works for years. We believe this is an evolution of the Fisker EMotion that Fisker talked about in 2018, then a coupe with novel butterfly rear doors, a 400-mile estimated range, and a price around $129,000. What we're seeing now has come out of the Magic Works outpost set up in England and run by Aston Martin's former head of special projects David King. Henrik's caption with the Instagram tease was, "Fisker Ronin, All Electric super GT! Reveal August 3rd! Super fast & space for 5! The ultimate long distance Grand Touring car with an anticipated range of 600 miles!" This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fyi, that's 600 miles of range on the WLTP cycle. Plenty of distance still, although it's a small climb down from the targeted 660 miles of range we heard about in May 2022.  Fisker only calls this an electric grand tourer in the Insta post. On the Fisker site, the car is called "the world's first all-electric, four-door convertible, GT Sports Car." There's a shut line across the roof, placed where the absent B-pillar would otherwise make itself known. Another shutline separates the center panel from the C-pillar, just where one would expect a three-piece hardtop to separate so that it can fold into the trunk. Assuming this comes to pass, the Ronin will be the first and last entry in the four-door convertible GT market in the U.S., and the only genuine hardtop convertible on sale here (as opposed to the targa setups on cars like the Chevrolet Corvette and McLaren 750S).   In terms of specifications, all that's been announced is that the Ronin will offer "extremely high levels of performance" and serve as "a showcase for [Fisker's] internal engineering, powertrain and software capabilities." The vehicle battery's been integrated into the structure, and active aero is going to play a part. The company's promised to keep the price below $200,000.     Investor Day will also show the production Fisker Pear city vehicle, and we hear the Alaska pickup, based on the Ocean, might make a cameo. Fiskerati reports Fisker having said of the pickup, "that’s really our take on a very unique super sporty pickup truck.

Fisker Ocean Extreme gets EPA-rated 360 miles on a charge

Two months ago, Fisker Inc. expected the U.S. EPA to declare that its dual-motor Ocean Extreme SUV possessed an estimated range rating of 350 miles. The verdict is in, with the government agency going even better by certifying the Ocean Extreme on the standard 20-inch wheels as able to go an estimated 360 miles on a charge. This version of the Ocean fits a 113-kWh battery and a dual-motor drivetrain making 550 horsepower. Fisker's press release touting the EPA result noted the Ocean "has the longest range of any new electric SUV under $200,000 sold in the United States today." That clunky specific is because Faraday Future attests that it's FF 91 SUV will go 381 miles on a charge with its 142-kWh battery.  After testing in Europe earlier this year, the Ocean Extreme on 20-inch wheels earned a range rating of 440 miles on the WLTP cycle. When tested on the optional 22-inch wheels, range only dropped to 436 miles. One hopes the same tiny difference will hold here. The automaker says it has received all of the necessary paperwork from the EPA, the California Air Resources Board (CARB), and the National Highway Traffic Safety Administration to allow it to sell cars in every state and Washington, D.C. Each sale will also earn Fisker four Zero Emission Vehicle credits from CARB. The CEO said, "We plan to send out communications today to our first customers." With deliveries here commencing on schedule, all 5,000 examples of the Ocean One Launch Edition should meet their new owners by the end of September, around the same time the top-trim Ocean Extreme — the serial production version of the Ocean One Launch Edition without all the standard goodies — begins deliveries. Fisker expects to produce between 32,000 and 36,000 units in 2023, compared with its previous target of 42,400 cars. Some of those could be the Force E off-roading version that fits a stouter roof rack, new front and rear bumpers, tow hooks at both ends, and 33-inch tires on 20-inch wheels, plus optional grab handles, tiedowns, and rubber floors. If that happens, Henrik Fisker said the package can be retrofitted to the top two trims, the Ocean Extreme and Ocean Ultra.   

Fisker delivers first Ocean One Launch Edition in Denmark

Danish car designer and eponymous automaker Henrik Fisker delivered the first Ocean One Launch Edition crossover in his native land, stopping by the Fisker Center+ in Copenhagen to deliver the keys to the new owner. The unit came in Great White over black, 22-inch AirGlider wheels, with white Alcantara seats set among a Sea Salt interior. Being the Launch Edition, it came with the most powerful 550-horsepower dual-motor drivetrain and nearly option, like the 17.1-inch swiveling infotainment screen and SolarSky roof. The dual-motor AWD Ocean One packs a 113-kWh battery powering a range of 436 miles in Euro testing on the 22-inch wheels specced on retail delivery #1. If the customer had chosen the 20-inch wheels, range would be 440 miles. Either number is enough to get from Copenhagen to Stockholm for a seaside vacation with the Ocean. Just after the Denmark celebration, Fisker flew to Munich, Germany, to commemorate the first Ocean registered in that country, a car delivered to Henrik himself. He also opened the new Fisker Lounge in the center of town and a showroom at the company's local headquarters in Munich Motorworld.  On this side of the Atlantic, the company spent last week addressing its Q1 results and expectations for deliveries. Headwinds continue for EV makers of all sizes, but Fisker told analysts he expects the U.S. Environmental Protection Agency to certify the Ocean this month so that deliveries can commence in June. If that timetable holds, all 5,000 examples of the Ocean One Launch Edition should meet their new owners by the end of September, around the same time the top-trim Ocean Extreme — the serial production version of the Ocean One Launch Edition without all the standard goodies — begins deliveries.  Even more recent news suggests a trim package on the way that could almost be considered a fifth trim. Not long after the Ocean debuted in 2020, Henrik Fisker teased an off-road version called the Force E, which stands for Force Electric. At the time, the overhaul was touted as a fleet option for companies who needed "an extreme off-road package" with items like a brush guard, big beadlock tires, and a water spout set into the front bumper. The latest Force E package targets the camping set with a stouter roof rack, new front and rear bumpers, tow hooks at both ends, and less aggressive non-beadlock 33-inch tires on 20-inch wheels. Inside, the options sheet extends to grab handles, tiedowns, and rubber floors.

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

EV startups are about to report another quarter of fierce cash burn

U.S. electric-vehicle startups are expected to report another quarter of dwindling cash reserves next week, piling pressure on a group of companies that are struggling to ramp up production and have few options for funding in a turbulent economy. Having gone public with hopes of shaking up the automobile industry, these companies have seen their market valuations evaporate in the past few months as EV demand slows and market leader Tesla Inc cuts prices to stoke orders. Lucid Group kicks off first-quarter earnings for the group on Monday, with the company expected to report a 36% sequential slide in cash reserves, according to Visible Alpha. Rivian Automotive, meanwhile, will likely report on Tuesday that its cash balance fell by 6.8% to $10.78 billion from the preceding quarter, per a Visible Alpha estimate. The Amazon.com Inc-backed firm, whose shares have declined by nearly a quarter this year, is also expected to report a larger loss of $1.75 billion as both deliveries and production fell in the period. It posted a $1.59 billion loss a year ago. Fisker Inc and Nikola, both of which report earnings on Tuesday, are expected to see their cash reserves decline by 5% and 15%, respectively, according to Visible Alpha. "Any company that's losing money with a low valuation is toast and EVs are no exception. I think it is just a slow bleed. Maybe they'll get lucky and some of their technologies maybe bought by bigger players," said Thomas Hayes, chairman of hedge fund Great Hill Capital. A drop in valuations of companies has rendered selling equity for precious cash more ineffective and investors are becoming increasingly unhappy with their stake being diluted as several startups are yet to recognize revenue from operations. British EV startup Arrival SA and Nikola have issued going-concern warnings in the past few months, with the former set to merge with blank-check firm Kensington Capital Acquisition Corp in a bid to raise cash. Lordstown Motors said this week it could be forced to file for bankruptcy due to uncertainty over a funding deal with major shareholder Foxconn. Its earnings in an unscheduled release on Thursday showed Lordstown's cash balance fell 11% sequentially. Some of the companies including Lucid and Rivian have also said they would not provide data on reservation numbers going forward, sparking some concern among investors. It is a "disturbing development," CFRA Research analyst Garrett Nelson said.

Fisker earnings call touts the Ocean's arrival, teases the Pear

Henrik Fisker's on his third go as head of an independent carmaker. It started with Fisker Coachbuild, putting new bodies on German sports cars to create the Tramonto and Latigo. His dreams soon went electric with Fisker Automotive and the Karma. The latest dream revision birthed Fiker Inc, the company behind the Ocean. Based on details provided during the company's Q4 and full-year 2022 results call with analysts, the third time could well and truly be the charm. The bullet points are a startup's dream. There are 56 Ocean prototypes on the roads, 15 of them in partner Magna Steyr's fleet for daily testing and validation. Fisker Inc spent less money than expected in 2022 ($702 million) and has more cash on hand than expected. And if things go smoothly in 2023, the predicted spend and gross margin could leave Fisker Inc with "potentially positive EBITDA [Earnings Before Interest, Taxes, Depreciation, and Amortization] for 2023." Huge if it happens. If there's slightly mixed news, it's with the Q1 2023 timeline. The good bit is that Fisker says homologation programs in the U.S. and seven European countries are "progressing well," the processes expected to conclude in March. After that, the company needs to secure final regulatory approvals from the U.S. EPA, California's Air Resources Board, and the seven international regions. Fisker touted the broad market strategy as lowering risk since getting approved in multiple markets would give the company the option to go where demand is greatest. The target has been to get the first 300 Ocean units delivered by the end of March, Fisker saying the company secured supplier commitments for the quarterly and annual build schedules. With the amount of paperwork yet to be done, though, hitting the March deadline could be close. After that, according to the CEO, it's back to uncut good news. Those homologation programs have apparently shown ranges better than expected for the Ocean. Instead of the 350-mile range predicted on the U.S. regime, Fisker thinks "it's going to be closer to 360 [miles]." Instead of the Europe's WLTP prediction of 630 kilometers, he said, "I think this will be closer to 700."  As of the end of February, the company is sitting on roughly 65,000 reservations or orders for the Ocean. The goal is to manufacture 42,000 units this year, the ramp-up going from 300 in Q1 to 8,000 in Q2, more than 15,000 in Q3, and at least 19,000 in Q4.

Fisker Ronin previewed as electric four-door, four-seater convertible

Fisker plans to expand its range of electric vehicles with a four-door, four-seater convertible called Ronin. The model is being engineered to have "the world's longest range for a production EV," according to the company, and a new digital rendering gives us a better look at it. Published on the official Fisker website, the computer-generated preview image shows a convertible with a futuristic-looking front end that's characterized by a light strip made up of individual LEDs. There's no grille, which isn't surprising for an electric vehicle, but it looks like designers chiseled air intakes into the lower part of the front bumper. McLaren-like dihedral front doors and massive wheels add a touch of drama to the design. We don't know how the rear doors open yet, and Fisker hasn't released images of the Ronin's rear end or interior yet. Earlier in 2022, company founder Henrik Fisker pledged that the Ronin will offer 660 miles of driving range when tested on the WLTP cycle used in Europe. While the convertible's EPA-estimated range will undoubtedly be lower, even a 500-mile range would be an impressive figure. We don't know how Fisker plans to achieve that yet. In terms of specifications, all that's been announced is that the Ronin will offer "extremely high levels of performance" and serve as "a showcase for [Fisker's] internal engineering, powertrain and software capabilities." It's being developed by Magic Works, a United Kingdom-based division tasked with bringing special high-end projects to production. If everything goes according to plan, Fisker will unveil the Ronin as a close-to-production concept in August 2023 and will begin building the model the following year, according to Motor Authority. Pricing will reportedly start under $200,000. In the meantime, the company will continue developing a smaller, far more affordable, and Foxconn-built EV called Pear that's allegedly due out by the end of 2024. Green Fisker Convertible Electric

Fisker Pear shows up in L.A. in video and pics

With the Fisker Ocean running down production lines at Magna's plant in Graz, Austria, Henrik Fisker has decided to let the Pear out the play. The Fisker Pear will be the second car introduced to the lineup, expected to happen sometime around late 2024. The CEO said he was going to take it out for a drive in L.A., and someone caught the hatchback crossing the new 6th Street Viaduct Bridge last Friday morning. This week, a prototype dressed in the same camouflage and bright green 22-inch Slipstream wheels was caught parked in an L.A. alley, giving us an even better look.  This one's dubbed a battery-electric city car for a global audience, its name an acronym for Personal Electric Automotive Revolution. Said to challenge cars like the Volkswagen ID.3 in international markets, the Pear is actually sized like a subcompact crossover. Length is given as 4.55 meters or 179.1 inches. That's 12 inches longer than the ID.3, 9.5 inches longer than the Chevrolet Bolt EUV, half an inch longer than the 2024 Chevy Trax. A series of patent application drawings at Fiskerati give glimpses into novel features, one of them being a drawer that emerges from the front fascia, the other being a hatch that partially disappears into the bumper. The steel chassis debuting with the Pear will eventually support two more vehicles. That platform can hold one of two batteries on offer, one for local city duty, and a Hyper Range pack with an estimated 310 miles of range. Fisker has announced a price of $29,900 for the base version with the smaller battery, but we imagine it's going to be hard to hold the line on that until the Pear goes on sale. The key to making it work is keeping the parts count low, and maximizing manufacturing efficiency. The automaker hired a production exec from BMW's South Carolina facility to oversee plans at the Foxconn facility where the Pear will be built, the target being 250,000 per year by 2025. Fisker wants the Pear to get Fisker Automotive to 1 million sales by 2027. Last we heard, Fisker said it had 5,000 reservations for the little guy. Now that it's out and about, we should see and learn more soon.