Fisker (FSR) Q4, full 2022 results: 56 Ocean EVs built, 0 customer deliveries, new PEAR images
Fisker Inc. shared its Q4 and full 2022 results with investors this morning, detailing the progress of its flagship Ocean SUV; an update on its second EV model, the PEAR; and a report of operational results that were “better than expectations.” While the American automaker continues its work to deliver its first EV to customers, it is projecting positive growth numbers in 2023. More below.
Fisker Inc. ($FSR) is relaying optimism as the American start-up continues its bold strategy of attempting to homologate on two separate continents simultaneously. This past fall, the company was reporting over 62,000 reservations for its flagship Ocean SUV with production output projections surpassing 42,000 units in 2023.
That chase began a few weeks after Fisker’s Q3 report when it officially kicked off Ocean production on time in Austria, with the help of contract manufacturer Magna Steyr. Since then, Fisker has shared a behind-the-scenes look at its SUVs being built and recently announced a partnership with ChargePoint in North America.
In terms of production output, Fisker has been a tad slow to start but predicted as much coming into today’s Q4 2022 report. Where does the start-up stand overall following a busy year? Let’s break down the key factors to note.
Fisker ends Q4 2022 with over $735 million in cash
According to Fisker, it saw better than expected operational costs in 2022, despite costs for its start of Ocean production in Q4. Total 2022 spending was $702 million, well below its anticipated range between $715 and $790 million.
As of December 31, 2022, Fisker’s cash and cash equivalents totaled $736.5 million (excluding about $28M of VAT receivables that have been delayed to 2023). Fisker says its cash balance includes roughly $57 million raised from its $350 at-the-market (ATM) program in Q4 2022.
Net losses were $170.1 million, equating to $0.54 per share. Weighted outstanding average shares totaled nearly $315 million in Q4 as well. For 2023, Fisker is now projecting non-GAAP operating expenses and capital spends to be between $535 and $610 million, targeting a gross margin range between 8-12%, resulting in potentially positive earnings before interest, taxes, depreciation, and amortization (EBITDA).
In terms of Ocean production, Fisker reported that it has built 56 EVs to date, including 15 fleet vehicles delivered to Magna in December, which are being used for testing, data collection, and additional validation for “future features.”
The company relayed that it remains on track to produce (up to) 42,400 EVs in 2023, provided its supply chain pulls through and it receives homologation “in a timely manner.” That testing is expected to be completed in the US and Europe in March, followed by regulatory approval processes. Chair and CEO Henrik Fisker spoke:
We are the first startup to homologate two continents simultaneously. We have completed over 250 various tests and the teams are submitting these results continuously to regulatory authorities. The ability to initially sell the Ocean in the US and seven European launch markets is unprecedented and a major de-risking strategy that we implemented from the outset. This approach offers the opportunity to increase sales and shift vehicles to whichever market has the strongest growth.
Launching a high-quality Fisker Ocean with class-leading range, innovations, and features is our number one priority. We have finalized our EPA and WLTP testing and our internal findings show longer range for the Fisker Ocean than we initially projected. These results reinforce our expectation that, at the time of launch, the Fisker Ocean will have the longest range of any SUV/Crossover priced below $70,000. We are excited to get the Ocean in the hands of our loyal customers shortly after the homologation process is complete.
Previously, Fisker has promised the Ocean will have an estimated range of up to 350 miles, so it will be interesting to see where those official EPA numbers land and if they are in fact greater. The company says it has already secured long-lead parts in its supply chain and expects to have everything it needs to produce to first 300 EVs for customers in March – that’s also its previously shared output target for Q1 2023, but it better get moving as we approach the bookend of the quarter.
Production is still expected to ramp up in Q2 as output is targeted at 8,000 units. Ocean reservations were over 65,000 as of February 24, 2023, joined by over 5,600 PEAR reservations. Speaking of the Fisker PEAR, the company shared its latest image of its exterior (seen above), showcasing the compact EV’s high-mounted brake light.
Fisker says the working PEAR prototype has already undergone aero testing and is expected to deliver “well over” 300 miles of range using its E/E architecture that utilizes what the start-up calls its Blade Computer. It still anticipates it will be able to launch the PEAR at a base MSRP of $29,900.
Fisker continues its world tour of the Ocean SUV to consumers and OEMs as it works to implement after-sales service centers throughout the US and Europe ahead of first deliveries. The next milestone we will keep an eye out for is the official start of Ocean deliveries as Fisker continues to try and prove the naysayers wrong and head into a promising 2023.
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Over the weekend, Tesla began offering many Cybertruck trade-in estimated values above the original purchase price, apparently due to a glitch in its system.
Tesla offers online trade-in estimates for individuals considering purchasing a vehicle from them.
Over the last few days, Cybertruck owners who submitted their vehicles through the system were surprised to see Tesla offering extremely high valuations on the vehicle, often above what they originally paid for the electric truck.
Here are a few examples:
- $79,200 for a 2025 Cybertruck AWD with 18,000 miles. Since this is a 2025 model year, it was eligible for the tax credit and Tesla is offering the same price as new without incentive.
- Here Tesla offered $118,800 for a 2024 Cybertruck ‘Cyberbeast’ tri-motor with 21,000 miles.
- In this example, Tesla offers $11,000 more than the owner originally paid for a 2024 Cybertruck.
The trade-in estimates made no sense. Tesla has been known to offer more attractive estimates online and then come lower with the official final offer, but this is on a whole different level.
Some speculated that Tesla’s trade-in estimate system was malfunctioning, while others thought Tesla was indirectly recalling early Cybertrucks.
It appears to be the former.
Some Tesla Cybertruck owners who tried to go through a new order with their Cybertruck as a trade-in were told by Tesla advisors that the system was “glitching” and they would not be honoring those prices.
Tesla told buyers that it would be refunding its usually “non-refundable” order fee.
Electrek’s Take
That’s a weird glitch. I assume that it was trying to change how the trade-in value would be estimated and the new math didn’t work for the Cybertruck for whatever reason.
It’s the only thing that makes sense to me.
The Cybertruck’s value is already quite weird due to the fact that Tesla still has new vehicles made in 2024, which are not eligible for the tax credit incentive, while the new ones made in 2025 are eligible.
There’s also the Foundation Series, which bundles many features for a $20,000 higher price.
All these things affect the value and can make it hard to compare with new Cybertrucks offered with 0% interest.
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![At $28,000 off, is the Jeep Wagoneer S the best EV deal going? [update]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/06/jeep_wagoneer_deals.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
Like a 90s “gifted” kid that was supposed to be a lot of things, the electric Jeep Wagoneer S never really found its place — but when dealers started discounting the Jeep brands forward-looking flagship by nearly $25,000 back in June, I wrote that it might be time to give the go-fast Wagoneer S a second look.
This month, the discounts are even better.
UPDATE 23AUG25: I found you some even better EV deals!
Whether we’re talking about Mercedes-Benz, Cerberus, Fiat, or even Enzo Ferrari, outsiders have labeled Jeep as a potentially premium brand that could, “if managed properly,” command luxury-level prices all over the globe. That hasn’t happened, and Stellantis is just the latest in a long line of companies to sink massive capital into the brand only to realize that people will not, in fact, spend Mercedes money on a Jeep.
That said, the Jeep Wagoneer S is not a bad car (and neither is its totally different, hideously massive, ICE-powered Wagoneer sibling, frankly). Built on the same Stellantis STLA Large vehicle platform that underpins the sporty Charger Daytona EVs, the confusingly-named Wagoneer S packs dual electric motors putting out almost 600 hp. That’s good enough to scoot the ‘ute 0 to 60 mph in a stomach-turning 3.5 seconds and enough, on paper, to convince Stellantis executives that they had developed a real, market-ready alternative to the Tesla Model Y.
With the wrong name and a sky-high starting price of $66,995 (not including the $1,795 destination fee), however, that demand didn’t materialize, leaving the Wagoneer S languishing on dealer lots across the country.
That could be about to change, however, thanks to big discounts on Wagoneer S being reported at CDJR dealers in several states:
- Jeff Belzer’s in Minnesota has a 2025 Wagoneer S Limited with a $67,790 MSRP for $39,758 ($28,032 off)
- Troncalli CDJR in Georgia has a 2025 Wagoneer S Limited with a $67,590 MSRP for $42,697 ($24,893 off)
- Whitewater CDJR in Minnesota has a 2025 Wagoneer S Limited with a $67,790 MSRP for $43,846 ($23,944 off)
- Antioch CDJR in Illinois has a 2025 Wagoneer S Limited with a $67,790 MSRP for $44,540 ($23,250 off)
“Stellantis bet big on electric versions of iconic American brands like Jeep and Dodge, but consumers aren’t buying the premise,” writes CDG’s Marcus Amick. “(Stellantis’ dealer body) is now stuck with expensive EVs that need huge discounts to move, eating into already thin margins while competitors focus on [more] profitable gas-powered vehicles.”
All of which is to say: if you’ve found yourself drawn to the Jeep Wagoneer S, but couldn’t quite stomach the $70,000+ window stickers, you might want to check in with your local Jeep dealer and see how you feel about it at a JCPenneys-like 30% off!
Jeep Wagoneer S gallery
Original content from Electrek; images via Stellantis.
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Multinational equipment brand SANY just launched a clever new 50-ton reach stacker that pairs gravity and an F1-style KERS system to generate electricity, improve operating efficiency, and reduce costs. The best part: they’re putting that smart tech to work by helping clean up (and shore up) the grid.
Short for Kinetic Energy Recovery System, KERS was a staple of Formula 1 in the late aught and 2010s. Essentially an advanced form of regenerative braking, KERS captured the kinetic energy of a car at speed that would normally be lost as heat when the brake pads pressed against the brake discs. Instead of heat, KERS converted that energy into electricity (storing it in a battery or flywheel), to be deployed later.
Sebastian Vettel explains KERS
In practice, KERS gave drivers an extra boost of horsepower at the push of a button, enabling them to attack or defend their position on track and adding a fresh strategic element to the sport. In SANY’s case, that stored power is fed back into the reach stacker’s electric hydraulic system, reducing pressure loss across the high-pressure setup by 50%, and lowering the machine’s overall energy consumption by more than 60%.
Energy recovery is a key feature. The potential energy of the boom, lifting gear and energy storage cabinets during the boom’s descent can be recovered efficiently with an overall recovery efficiency of over 65%. That means every 1 kWh of consumption in lifting can be recovered by 0.4 kWh during descent.
The 50t reach stacker is available with a 512 kWh swappable battery pack that’s compatible with other SANY heavy equipment assets, and supports both DC fast charging when swapping isn’t practical or (for whatever reason) desirable.
On a single charge and backed by the onboard KERS, that’s good enough for the machine can lift and move containers for more than 7 continuous hours, which SANY claims significantly reducing downtime for charging compared to other, similar equipment assets.
The new SANY reach stacker can stack six 50-ton containers, greatly enhancing a site’s container and battery storage density within a limited space. The first units will reach unnamed customers building out a utility-scale energy storage project by the end of this month.
Electrek’s Take
All the great stuff I was saying about the new 65-tonne XCMG still holds true for the SANY (especially when they take the wraps off their own 65t BESS-specific unit later this year), but the SANY adds smart battery swap tech and what seems to be more efficient operations, too.
Regardless of which one you choose, it seems like the available options for reach stacker operators are just getting better and better!
SOURCE | IMAGES: SANY.
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