Fisker Inc. is lowering its electric vehicle production guidance for the year a second time, now targeting about half of what it had originally set out to make with manufacturing partner Magna International Inc.
(Bloomberg) — Fisker Inc. is lowering its electric vehicle production guidance for the year a second time, now targeting about half of what it had originally set out to make with manufacturing partner Magna International Inc.
The company said Friday it expects 2023 output to be in a range of 20,000 to 23,000 vehicles, blaming a “short-term capacity constraint at one supplier” which it did not specify. That’s down from Fisker’s initial full-year guidance of as many as 42,400 vehicles and an estimate in May of between 32,000 and 36,000.
The Los Angeles-based company started producing its first EV with Magna in November 2022, but only began deliveries of the SUV to customers in June. Fisker said it has delivered 11 vehicles since then in both Europe and the US, citing logistical and other difficulties.
For the latest quarter, the company reported a loss of 25 cents a share on revenue of $825,000.
Fisker rose 1.6% in premarket trading to $6.45 as of 7:32 a.m. in New York. The stock was down about 13% this year as of the close on Thursday.
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