Fisker to gradually ramp production of Ocean SUVs, to support 2023 goal of up to 36,000 deliveries

Shares of Fisker Inc.
FSR,
+3.45%
fell 1.0% in premarket trading Monday, after the electric vehicle maker said it was ramping up production to meet customer demand for its Ocean sport-utility vehicle (SUV). The company said it is beginning on Monday the gradual increase in production, to build 1,400 to 1,700 vehicles by the end of June, “provided all partners deliver.” Fisker said it plans to boost production further during the third quarter, to support its 2023 delivery forecast of 32,000 to 36,000 vehicles. “I am excited about our next customers’ deliveries coming up, and we will inform our first customers shortly on timing as we are finalizing the schedule now,” said Chief Executive Officer Henrik Fisker. The stock has dropped 16.2% year to date through Friday, while the S&P 500 has gained 7.4%.