Fisker Inc (NYSE:FSR) shares accelerated on Friday morning after the electric vehicle (EV) maker said it ramped up its deliveries by more than 300% sequentially in the fourth quarter, delivering a total of 4,700 vehicles during 2023.
Just after the stock market opened, Fisker shares had gained 22.5% at US$1.85.
The California-based company said it began making customer deliveries of its Ocean EVs in June, with deliveries ramping up in September and October.
In the fourth quarter, the majority of deliveries were Fisker Ocean One launch edition vehicles priced at US$68,999, Fisker said.
After homologation delays in the United States and Europe in addition to supplier issues, the company produced 10,142 vehicles this year.
"We became a revenue-generating company in 2023, but we also faced numerous challenges,” Fisker CEO Henrik Fisker said in a statement.
“Emerging from COVID-19 created several issues for our supply chains, but we have largely overcome them, and we have delivered approximately 4,700 Fisker Oceans. This accomplishment represents substantial revenue, and as we accelerate our delivery pace in 2024, I am excited to see faster growth."