Fisker Reports Lower-Than-Expected Q2 Production Due To Supply Shortages

Fisker Inc FSR disclosed Q2 2023 vehicle production volumes below its initial guidance.  

The company reported production of 1,022 class-leading Fisker Ocean SUVs in Austria in Q2, lower than its production target of 1,400-1,700 vehicles.

The company stated facing components supply shortage challenges in the quarter. 

On the other hand, Fisker surpassed its targeted assembly rate of 80 units daily at the end of June.

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The company projects vehicle production to exceed 1,400 in early July. 

Related: Fisker To Reveal Its 'Sexiest Car' Yet With A 600-Mile Range In August

Going forward, Fisker expects to invest in boosting battery pack capacity to protect the compressed manufacturing timeline this year and aid in reaching higher volumes than initially anticipated next year.

Fisker plans to report its Q2 2023 financial results before the market opens on Friday, August 4, 2023. 

Price Action: FSR shares are trading higher by 6.1% at $6.11 on the last check Friday.