Shares of electric vehicle startup Fisker Inc (NYSE:FSR) were turbocharged on Monday after the company said it is on track to begin deliveries of its Ocean SUV this spring and produce more than 40,000 vehicles in 2023.
Fisker said it had roughly 65,000 reservations for the Ocean, up from more than 62,000 before its earnings report. So far, 56 Ocean vehicles have been built.
The company’s stock was up nearly 30% to $7.26 on Monday afternoon.
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CEO Henrik Fisker also delivered good news on the Ocean’s range. The company previously said the vehicle would have about 350 miles of range in top trims, but early testing has revealed that figure to be even higher.
“These results reinforce our expectation that, at the time of launch, the Fisker Ocean will have the longest range of any SUV/Crossover priced below $70,000,” Fisker said in a statement.
The base trim Ocean has about 250 miles of range and a starting price of $37,499, while longer-range versions start at about $50,000.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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