Fisker Q3 results: 62k reservations, 42k units coming in 2023, and a drivable PEAR Prototype

Published

3 years ago

November 2, 2022

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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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Environment

Toxic Pennsylvania mineland is about to become a big solar farm

Published

13 hours ago

December 13, 2025

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Toxic Pennsylvania mineland is about to become a big solar farm

Pennsylvania mineland solar — Photos of the existing contaminated minelands that will be converted to solar under the recently approved Black Moshannon solar project in Rush Township, Centre County PA (Photo: PennEnvironment)

Rush Township supervisors in Centre County, Pennsylvania, voted this week to greenlight a key permit for the Black Moshannon Solar project – a large solar development that would turn toxic former mineland into a major source of clean power.

If built, the Pennsylvania solar project would generate 265 megawatts of electricity – enough to power about 200,000 homes annually – on nearly 2,000 acres of toxic mineland. Developers deliberately chose the site, as the project is designed to reclaim land left behind by mining and fold environmental cleanup into the solar buildout.

According to project plans, the site would be restored with pollinators and pollinator-friendly ground cover planted beneath the solar panels. Developers have also committed to ongoing water quality and soil testing during construction and operations, along with soil improvements such as applying lime to help neutralize mining-related contamination and support vegetation growth.

Beyond the environmental cleanup, the project is expected to deliver a financial boost to the region. Black Moshannon Solar is projected to generate more than $5 million in tax revenue for the Phillipsburg-Osceola Area School District, along with more than $700,000 in direct tax payments to Centre County.

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Environmental and energy advocates praised the township’s decision. David Masur, executive director of PennEnvironment, called the vote a model for other communities across the state. “We are hopeful that other local government officials across Pennsylvania will follow Rush Township’s lead and implement similar, much-needed solar projects all across the Keystone State.”

Jim Gregory, executive director of the Conservative Energy Network-Pennsylvania, also applauded the approval. “In 40 years, their forward-thinking decisions will be recognized as catalysts for environmental protection, public health improvements, and economic prosperity.”

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Environment

Genesis GV90 leaks as breathtaking ultra-luxe SUV with coach doors [Video]

Published

16 hours ago

December 12, 2025

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Genesis GV90 leaks as breathtaking ultra-luxe SUV with coach doors [Video]

Genesis is gearing up to launch the stunning new flagship SUV. Ahead of its official debut, the GV90 leaked during an internal presentation, revealing our first look at the ultra-luxe electric SUV.

Genesis GV90 leak reveals coach doors and more

The GV90 is arriving as the largest, most luxurious Genesis SUV to date. Based on the Neolun Concept, the new flagship SUV will sit above the GV80 as Genesis expands into new segments.

As Genesis calls it, the “ultra-luxe, state-of-the-art SUV” stole the spotlight at the New York Auto Show last March.

It wasn’t the stunning, reductive design inspired by Korea’s moon-shaped porcelain jars or the premium Royal Indigo and Purple silk materials that caught most people’s attention at the event, but the B-pillarless coach doors.

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The SUV was showcased with Rolls-Royce-like coach doors, offering a new level of luxury for Genesis. Although we’ve seen the GV90 spotted out in public testing a few times now with coach doors, we wondered if they would make it to the production model.

After the full-size SUV reportedly leaked during an internal presentation, it looks like we’ve found our answer. The Genesis GV90 leak reveals two versions: a standard model and a coach-door model.

The leaked images from our friends at ShortsCar offer our first look at the production version in full. Earlier this month, a GV90 prototype was spotted out in public with the coach doors wide open, providing a sneak peek of the interior.

From what was shown, the cabin will feature a similar layout to the concept, with high-end purple and indigo materials. The GV90 was also caught with an all-black interior, which is expected to be the standard version.

A new video from the folks over at HealerTV offers a closer look at the breathtaking interior ahead of its official debut.

The GV90 appears to retain the gear selector located near the top of the steering wheel from the Neolun concept.

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Another report, from TheKoreanCarBlog, confirms the new gear selector after the first interior spy shots surfaced.

From what we’ve seen so far, the GV90 is shaping up to be a near replica of the ultra-luxe Neolun concept. Genesis has yet to announce a launch date for the GV90, but it is expected to make an official debut by the end of the year with sales starting in mid-2026.

Prices and final specs, like driving range, will be revealed closer to launch, but the Genesis GV90 is rumoured to be the first vehicle to ride on Hyundai’s new eM platform.

Hyundai said the new platform will deliver a 50% improvement in range compared to its current E-GMP-based EVs, such as the IONIQ 5. It’s also expected to offer Level 3 autonomous driving as well as other advanced driver assistance system (ADAS) features.

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Environment

Battery storage hits $65/MWh – a tipping point for solar

Published

17 hours ago

December 12, 2025

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Battery storage hits /MWh – a tipping point for solar

solar battery storage — Photo: Enel North America

Turning cheap daytime solar into electricity you can actually use at night just got a lot cheaper. A new analysis from energy think tank Ember shows that utility-scale battery storage costs have fallen to $65 per megawatt-hour (MWh) as of October 2025 in markets outside China and the US. At that level, pairing solar with batteries to deliver power when it’s needed is now economically viable.

Battery storage costs have fallen dramatically over the past two years, and the decline continues. Following a steep decline in 2024, Ember’s analysis indicates that prices continued to fall sharply again in 2025.

The findings are based on real-world data from recent battery and solar-plus-storage auctions in Italy, Saudi Arabia, and India, as well as interviews with active developers across global markets.

According to Ember, the cost of a whole, grid-connected utility-scale battery storage system for long-duration projects (four hours or more) is now about $125 per kilowatt-hour (kWh) as of October 2025. That figure applies to projects outside China and the US. Core battery equipment delivered from China costs around $75/kWh, while installation and grid connection typically add another $50/kWh.

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Those lower upfront costs have pushed down the levelized cost of storage (LCOS) to just $65/MWh. Ember’s calculation reflects real-world assumptions around financing costs, system lifetime, efficiency, and battery degradation.

Cheaper hardware isn’t the only reason storage costs are falling. Longer battery lifetimes, higher efficiencies, and lower financing costs, helped by clearer revenue models such as auctions, have all contributed to the sharp drop in LCOS. Ember has published a live calculator alongside the report, allowing users to estimate LCOS using their own assumptions.

Why this matters comes down to how solar is actually used. Most solar power is generated during the day, so only a portion needs to be stored to make it dispatchable. Ember estimates that if half of daytime solar generation is shifted to nighttime, the $65/MWh storage cost adds about $33/MWh to the cost of solar electricity.

With the global average price of solar at $43/MWh in 2024, adding storage would bring the total cost to about $76/MWh, delivering power in a way that better matches real demand.

As Ember global electricity analyst Kostantsa Rangelova put it, after a 40% drop in battery equipment costs in 2024, the industry is now on track for another major fall in 2025. The economics of battery storage, she said, are “unrecognizable,” and the industry is still adjusting to this new reality.

“Solar is no longer just cheap daytime electricity; now it’s anytime dispatchable electricity. This is a game-changer for countries with fast-growing demand and strong solar resources,” Rangelova added.

Together, solar and battery storage are increasingly emerging as a scalable, secure, and affordable foundation for future power systems.

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