According to its financial results report for Q3 2022 released today, Fisker remains on schedule to begin production of its flagship Ocean SUV two weeks from now. The American EV automaker is also reporting over 62,000 combined reservations and orders ahead of a four phase production plan that’s expected to produce 42,400 units by the end of 2023. Outside of the Ocean, Fisker also shared a progress report of its second EV – the PEAR.
If you’re interested in Fisker’s financials and the progress of the Ocean SUV, you’re probably well aware of the company’s history and the journey it’s been on to get to this point – a pivotal moment in which the second iteration of the American automaker is mere weeks away from scaled production of its first EV. Exciting indeed.
We will spare you the history lesson this time around and get straight into the report, if that’s okay with you. If you’d like to recap, these previous posts should help:
Fisker ends Q3 with over $824M in cash and cash equivalents
Fisker shared its Q3 2022 financial results in a press release today, led by another affirmation that it remains on track to begin Ocean production in Austria through Magna Steyr on November 17 as originally promised.
The automaker also shared plans for a four-phase production ramp up of the Ocean beginning this month through the end of 2023, which is anticipated to produce 42,400 units. Fisker stated this strategy was spaced out to ensure its suppliers can parallel its expansion of volume. Here’s the current plan:
Q1 2023: 300+ units
Q2: 8,000+ units
Q3: 15,000+ units
Q4: Remainder to reach 42,400 unit goal
Production and delivery will focus on orders for the limited edition Ocean One to start, which should occupy Fisker’s time until Q2 next year, when Ocean Extreme production joins the fold. Fisker said it will begin selling the Ocean in select global markets beginning in January 2023 with the Extreme trim.
If Fisker can hit its 2023 production target, it just may sell out its entire first year’s output. According to the automaker, it had over 62,000 combined reservations and orders as of October 31, 2022. How those reservations and orders break down individually is unclear, but we’d suspect a decent amount of early reservations solidified over the summer in order to qualify for federal tax credits before revised terms in the recently signed Inflation Reduction Act kick in on January 1, 2023.
Fisker shared that through those binding customer contracts, it has sold out its US allotment of the 2023 Ocean Sport and Ultra trim levels. Additionally, it will deliver 15 Ocean SUVs purchased by Magna in December as a commercial fleet . Here are some other highlights from the report:
Fisker’s Q3 2022 operating results remain consistent with company expectations: full-year total spending guidance at the low end of the $715 million to $790 million range.
In September, the automaker announced that Wallbox will be its global partner for home EV charging solutions. We got to see those Fisker chargers up close the other day.
Fisker cash and cash equivalents were $824.7 million at end of Q3, 2022, which reflects approximately $116 million raised from its $350 million at-the-market (ATM) equity program.
Loss from operations totaled $140.0 million, including $11.2 million of stock-based compensation expense.
Net loss totaled $149.3 million and $0.49 loss per share, including an unrealized $7.3 million foreign currency loss and net of realized gains upon settlement of Euro-denominated payments.
The company is reporting close to 2,000 reservations and orders in Norway.
3D configurator, updated app, and website are scheduled to launch in multiple languages on November 17.
Fisker has begun preliminary discussions with global OEMs to explore sharing both Ocean and PEAR platforms, joint US manufacturing, and future sales of emissions credits.
Fisker PEAR update
As we approach the start of production of Fisker’s first EV, the automaker is already prepping to move its team right over to the development of its second, more affordable model – the PEAR.
Fisker has reportedly signed off on the first concept phase and is expecting to see a drivable prototype ahead of schedule. As of October 31, 2022, Fisker had over 5,000 reservations for the PEAR, despite not sharing it publicly yet. No updates on Project Ronin for this quarter.
That’s all for now, but you can view Fisker’s press release for a complete breakdown of its financials for Q3. First customer deliveries of the Ocean are expected to begin in February 2023. Hopefully we can get behind the wheel of one before then.
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On today’s episode of Quick Charge, we look into a new study revealing that Toyota outspends all other automakers when it comes to funding climate change denying politicians and Fred accuses Elon of misrepresenting the data behind Full Self Driving (again).
We’ve also got word that the recently redesigned Tesla Model Y is being built in Giga Berlin, Hyundai’s electrified lineup is leading a record export year for the brand, and a new study says cleantech investments will beat out conventional energy production for the first time in 2025.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!
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Amazon is adding over 200 Mercedes-Benz eActros 600 electric semi trucks to its fleet later this year – its largest-ever order of electric heavy goods vehicles (eHGVs).
Amazon’s new electric semi trucks
These electric trucks will handle high-mileage routes across the UK and Germany, moving trailers between Amazon’s fulfillment centers, sorting centers, and delivery stations.
The new eHGVs are expected to transport more than 350 million packages annually once fully operational.
Amazon is installing 360kW charging stations at key sites capable of powering the 40-tonne trucks from 20-80% in just over an hour. The company is also working with stakeholders to establish external charging locations to support longer routes.
The eActros 600 is Mercedes-Benz Trucks’ flagship electric long-hauler, with a battery capacity of more than 600 kWh and a range of 310 miles (500 km). Production of the eActros 600s recently began at Mercedes-Benz’s factory in Wörth, Germany.
Sustainable delivery across Europe
In the UK, Amazon has begun using the electric rail network for package transport at scale. It’s also rolling out on-foot delivery options in London, with associates using carts that can be restocked from nearby vans. In Germany, Amazon doubled its fleet of Rivian electric delivery vans to over 600, and electric cargo bikes delivered more than 1.5 million packages in Berlin alone last year.
By the end of 2024, Amazon plans to expand its micromobility hubs – locations supporting deliveries by foot and cargo bike – to Germany’s five largest cities and beyond. Across Europe, the company is investing more than €1 billion to further electrify and decarbonize its transportation network.
Amazon’s European network already includes 38 eHGVs, with 50 electric semis recently deployed in California. The company’s fleet of electric delivery vans in Europe has grown to over 3,000 and is expected to surpass 10,000 by the end of 2025. Micromobility hubs have also expanded from 20 cities in 2022 to more than 45 by the end of 2024, including new additions in Belfast, Madrid, Rome, and Vienna.
Electrek’s Take
Amazon says its latest electric semi truck order aligns with The Climate Pledge it announced in 2019, in which the company committed to achieving net zero across its operations by 2040. While The Climate Pledge initiative has garnered praise, it has also faced criticism and skepticism regarding its effectiveness and transparency.
In 2020, Amazon faced allegations of retaliating against employees who spoke out about the company’s environmental policies. The National Labor Relations Board found that Amazon had illegally fired workers who advocated for climate action and better safety measures.
Amazon is also donating $1 million to President-elect Donald Trump’s inaugural fund. Trump is a climate change denier who actively opposes renewables, and not just in the US. Earlier this month Trump demanded that the British government open up the North Sea to fossil fuel drilling and get rid of “windmills.”
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If you thought the current GV60 looked pretty inside, wait until you see the updated model. Genesis unveiled the new GV60 earlier this month, its first major redesign since launching in 2021. Here’s our first look at the interior of the new Genesis GV60.
Genesis GV60 interior gets an upgrade in the new model
Genesis launched the GV60 in October 2021 as its first dedicated EV. Less than four years later, the luxury electric SUV is already getting a new look.
The luxury brand unveiled the new GV60 last week for the first time. One of the biggest updates is to the front end.
Although the GV60 is already a sporty-looking EV, the redesigned front bumper with a new 3-D shape takes it up another level. Then, add the signature Genesis Two Line headlamps with Micro Lens Array (MLA) tech, and the refreshed GV60 is a head turner.
The revamped model now features 21″ wheels with a new five-spoke design, complementing its wide, low stance.
Inside, the upgraded GV60 features its new 27″ connected car Integrated Cockpit (ccIC) infotainment system. The design “eliminates the bezel” between the driver display and infotainment screens.
The new Genesis GV60 interior also gains a redesigned three-spoke steering wheel for an even more sporty feel while you’re in the cockpit. Other popular features from the outgoing model, like the Crystal Sphere shift-by-wire system, are still included.
After revealing the updated model for the first time last week, we are already getting a look at the redesigned interior.
A new video from Korea’s HealerTV gives us our first look at the Genesis GV60 interior in a new blue color. Although the reporter initially thought it was a performance model, he noted it was just a new color option. Other added design elements, like the large quilting pattern on the side panels, give it that Bentley or Rolls-Royce feel.
Last week, HealerTV posted a video revealing the first look at the updated Genesis GV60 exterior design. You can see the redesigned front and rear bumpers add to the GV60’s already impressive look.
In the US, the 2025 Genesis GV60 starts at $52,350. A new AWD trim was introduced this year, starting at $55,850.
The current mode gets up to 294 miles driving range, but a bigger battery is expected to push that number closer to 300 miles in the 2025MY. It’s expected to feature the same 84 kWh battery as the updated 2025 IONIQ 5, which provides up to 318 miles range. That’s up from 303 miles in the previous model with a 77.4 kWh battery.
2025 Genesis GV60 trim
Range (EPA-est)
Starting Price*
Standard RWD
294 miles
$52,350
Standard AWD
264 miles
$55,850
Advanced AWD
248 miles
$60,900
Performance AWD
235 miles
$69,900
2025 Genesis GV60 prices and range by trim (*excluding $1,350 destination fee)
Genesis will launch the updated GV60 in Korea in the first quarter of the year, with overseas markets following shortly after. Check back for more info, including prices and specs, closer to launch.
What do you think about the new GV60 design? Do you like the changes? What would you change? Let us know in the comments below.