Fisker announced its fourth-quarter financials on Wednesday, wrapping up the fiscal year that ended on Dec. 31, 2021. The automotive upstart appears to be on a solid footing with a $1.2 billion cash balance, which should be enough to complete the launch of its new Ocean all-electric SUV.
For fiscal 2021, the company’s non-GAAP operating expenses and expenditures were $458 million, which, according to Fisker, is modestly favorable to guidance provided in the Q3 2021 earnings release.
But far more exciting than those figures is the company’s product news. As of Valentine’s Day, Fisker has more than 30,000 Ocean reservations in the book, a total that includes some 1,600 fleet orders. So far in 2022, the rate people are raising their hands to buy this upcoming SUV has increased by more than 400% compared to 2021 — a huge jump.
“The acceleration of reservations for the Ocean clearly shows that people are discovering that the Ocean has features that no one else is offering in its price segment,” said Chairman and CEO Henrik Fisker in a release shared by the automaker. “Based on our in-house data analytics, we’ve seen a very positive customer reaction to the Fisker Ocean’s design and an enthusiastic response to its sustainability credentials.”
© Provided by Roadshow The Fisker Ocean promises to offer a range of unique features including a rotating infotainment screen. Craig Cole/Roadshow
Breaking those reservations down, 19% of customers ordered the Sport model, 38% opted for the Ultra trim and 43% went for the Extreme and One variants. That works out to an average selling price of around $56,000, or approximately $1.7 billion in future revenue for Fisker.
The Ocean was revealed in production-intent form at the Los Angeles Auto Show late in 2021. The first examples of this all-electric SUV are scheduled to reach customers starting in November. Pushing ahead, advanced engineering prototype models are already being assembled, vehicles that will be put through the wringer to validate their quality, safety and dynamics, among other things.
Beyond the Ocean, order books for the Fisker PEAR (Personal Electric Automotive Revolution) opened on Feb. 15. This vehicle is an all-electric, five-passenger, city-friendly EV, the automaker’s second offering. “This is a completely differentiated product, designed and engineered to reinvent urban mobility,” said Fisker. The PEAR promises sporty dynamics, clever storage solutions and a friendly starting price of $29,900 before taxes and applicable incentives. This potentially revolutionary vehicle will also be built in Ohio in partnership with Foxconn.
Assuming the Ocean launches on time and without major issues, the PEAR could cement Fisker as a legitimate — and financially sound — player in the automotive industry.
2023 Fisker Ocean: On trend
1/55 SLIDES © Provided by Roadshow This is the 2023 Fisker Ocean all-electric SUV. 2/55 SLIDES © Provided by Roadshow This SUV’s styling is modern and relatively clean. 3/55 SLIDES © Provided by Roadshow The badging is nicely centered on the liftgate. 4/55 SLIDES © Provided by Roadshow Wheels up to 22 inches in diameter are offered. 5/55 SLIDES © Provided by Roadshow Arguably, the Ocean’s signature feature is its rotating 17.1-inch infotainment screen, which turns from a portrait orientation to a landscape one. 6/55 SLIDES © Provided by Roadshow The D-pillars have redundant turn-signal indicators so truck drivers can better see them. 7/55 SLIDES © Provided by Roadshow The backseat should be spacious and comfortable. 8/55 SLIDES © Provided by Roadshow This SUV has ultra-slim taillights. 9/55 SLIDES © Provided by Roadshow A few different powertrains will be offered, with the top one providing 550 horsepower. 10/55 SLIDES © Provided by Roadshow For more photos of the 2023 Fisker Ocean, keep clicking through this gallery. 11/55 SLIDES © Provided by Roadshow 12/55 SLIDES © Provided by Roadshow 13/55 SLIDES © Provided by Roadshow 14/55 SLIDES © Provided by Roadshow 15/55 SLIDES © Provided by Roadshow 16/55 SLIDES © Provided by Roadshow 17/55 SLIDES © Provided by Roadshow 18/55 SLIDES © Provided by Roadshow 19/55 SLIDES © Provided by Roadshow 20/55 SLIDES © Provided by Roadshow 21/55 SLIDES © Provided by Roadshow 22/55 SLIDES © Provided by Roadshow 23/55 SLIDES © Provided by Roadshow 24/55 SLIDES © Provided by Roadshow 25/55 SLIDES © Provided by Roadshow 26/55 SLIDES © Provided by Roadshow 27/55 SLIDES © Provided by Roadshow 28/55 SLIDES © Provided by Roadshow 29/55 SLIDES © Provided by Roadshow 30/55 SLIDES © Provided by Roadshow 31/55 SLIDES © Provided by Roadshow 32/55 SLIDES © Provided by Roadshow 33/55 SLIDES © Provided by Roadshow 34/55 SLIDES © Provided by Roadshow 35/55 SLIDES © Provided by Roadshow 36/55 SLIDES © Provided by Roadshow 37/55 SLIDES © Provided by Roadshow 38/55 SLIDES © Provided by Roadshow 39/55 SLIDES © Provided by Roadshow 40/55 SLIDES © Provided by Roadshow 41/55 SLIDES © Provided by Roadshow 42/55 SLIDES © Provided by Roadshow 43/55 SLIDES © Provided by Roadshow 44/55 SLIDES © Provided by Roadshow 45/55 SLIDES © Provided by Roadshow 46/55 SLIDES © Provided by Roadshow 47/55 SLIDES © Provided by Roadshow 48/55 SLIDES © Provided by Roadshow 49/55 SLIDES © Provided by Roadshow 50/55 SLIDES © Provided by Roadshow 51/55 SLIDES © Provided by Roadshow 52/55 SLIDES © Provided by Roadshow 53/55 SLIDES © Provided by Roadshow 54/55 SLIDES © Provided by Roadshow 55/55 SLIDES © Provided by Roadshow
This was originally published on Roadshow.
Keyword: More Than 30,000 Fisker Ocean SUVs Have Been Reserved