Fisker misses second quarter production targets due to parts shortage

Fisker Missed second quarter production targets due to parts shortages. Electric car The startup made the announcement on Friday, sending the company’s shares down 2% in pre-market trading.

The California-based company produced 1,022 Ocean SUVs in the June quarter, falling short of its forecast of 1,400 to 1,700.

“A small number of suppliers were having difficulty reaching their target levels in the second quarter because they did not receive parts from their sub-suppliers in a timely manner,” Fisker said in an exchange filing in early July. It added that it expects to produce more than 1,400 vehicles.

Fisker, which reports second-quarter results on August 4, built 55 vehicles in the March quarter. Deliveries in the US started last month.

The production figures come at a time when some electric-vehicle companies are facing cash shortages as they are squeezed by higher production costs and inflationary costs.

last month, Rosetown Motors Files for Bankruptcy ProtectionMeanwhile, Electric Last Mile Solutions filed a similar application last year.

By contrast, EV giants Tesla and Rivian Automotive Beats Market Expectations For delivery in the second quarter.

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https://www.autoblog.com/2023/07/07/fisker-misses-second-quarter-production-target-due-to-parts-shortage/ Fisker misses second quarter production targets due to parts shortage

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