Fisker Inc (NYSE:FSR) announced that European regulators have certified its award-winning all-electric Fisker Ocean SUV as it prepares for regional deliveries from early May, sending its shares close to 12% higher.
“The entire Fisker team is excited to get the Fisker Ocean One launch edition to our reservation holders,” the company’s CEO Henrik Fisker said in a statement. “Our first delivery is expected for May 5. After that, we intend to deliver all Ocean Ones by the end of September while also initiating some deliveries of the Fisker Ocean Extreme, starting in Europe with the US to follow.”
The company noted that it recently produced several mid-trim level all-wheel-drive Fisker Ocean Ultras. It also built front-wheel-drive Fisker Ocean Sports, the lowest-priced trim level, which it plans to use for testing and approval purposes, with customer delivery of those trims expected to commence in September.
European reservations for its vehicles increased after it announced a Worldwide Harmonised Light Vehicle Test Procedure (WLTP) certification of up to 707 km/440 miles (on 20-inch wheels and tires) for the Fisker Ocean Extreme trim level, the longest of any battery-electric SUV currently on sale in Europe, it added.
The company said it has pursued a simultaneous European/US approval process so it can adjust production and sales according to regional demand.
“Our unique business model enables this level of flexibility, which we are now capitalizing on,” Fisker added.
Fisker's shares were 11.7% up at $5.48 in early morning trade in New York.
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