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Fisker Shares Rise Premarket As Ocean SUV Reservations Pass 14,000

Sam Boughedda trader
Updated 9 Mar 2021

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Shares of electric vehicle designer and manufacturer Fisker Inc (NYSE: FSR) are climbing premarket on Tuesday after announcing that reservations for its Ocean SUV today passed 14,000.

The company said the reservations were boosted by interest and orders from the fleet market globally.

Fisker’s share price is up 4.78% premarket at $22.78.

In Q4 last year, the company signed its first significant fleet order – for 300 vehicles – with Viggo, the technology-driven Danish ride-hailing service.

The company is projected to start production on its first Ocean electric vehicle inQ4 2022. The model will initially be manufactured in Europe and sold across Europe and North America. Fisker also recently announced it has signed an MOU with Foxconn to develop an electric vehicle, codenamed ‘Project PEAR.

“As more and more consumers and businesses are making the transition to electric vehicles, we are ready to partner with forward-thinking companies as they catalyze the shift to electric vehicles,” commented Fisker Chairman and CEO Henrik Fisker.

Regarding the agreement with Foxconn and the Project PEAR, Fisker said: “The prospect of a breakthrough electric vehicle at a sub-$30,000 price point is generating a lot of excitement and anticipation.”

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.