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.
Another look at the upcoming PEAR / Credit: Fisker Inc.
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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Tesla CEO Elon Musk threw shade at Waymo for having “rookie numbers” amid Tesla’s own disappointing autonomous-driving performance, raising the question: Is Elon Musk delusional or simply lying about Tesla’s Full Self-Driving?
Every year since 2018, Musk has alternately claimed that Tesla would solve self-driving “by the end of the year” or “next year.”
It never happened.
Tesla claimed a sort of victory this year with the launch of its “Robotaxi” service in Austin, Texas, but even that has been misleading since the service only operates a few vehicles in a geofenced area, something Musk has criticized Waymo for in the past, and unlike Waymo, Tesla has in-car supervisors with a finger on a killswitch to stop the vehicle in case of a potential accident.
Now, Musk called Waymo’s 2,500 fully autonomous vehicles currently in operation “rookie numbers”:
To put the comment in perspective, Tesla is believed to have about ~30 “Robotaxis” in its Austin fleet. In addition, Tesla claims to be operating “robotaxis” in the Bay Area with just over 100 cars, but it is officially considered a ride-hailing service because drivers are in the driver’s seat, and Tesla hasn’t even applied for an autonomous driving permit in California.
Tesla has also been pushing increasingly more misleading claims about its “Full Self-Driving” system being safer than humans.”
In the last few weeks, Tesla has repeatedly shared this misleading data as “proof” that its system is safer than humans:
This dataset is based on Tesla’s quarterly “Autopilot safety” report, which is known to be misleading.
There are three major problems with these reports:
Methodology is self‑reported. Tesla counts only crashes that trigger an airbag or restraint; minor bumps are excluded, and raw crash counts or VMT are not disclosed.
Road type bias. Autopilot is mainly used on limited‑access highways—already the safest roads—while the federal baseline blends all road classes. Meaning there are more crashes per mile on city streets than highways.
Driver mix & fleet age. Tesla drivers skew newer‑vehicle, higher‑income, and tech‑enthusiast; these demographics typically crash less.
With the new chart on the right above, Tesla appears to have separated Autopilot and FSD mileage, which gives us a little more data, but it still has all the same problems listed above, except the road-type bias is less pronounced, since FSD is also used on city streets.
However, many FSD drivers choose not to engage FSD in potentially dangerous or more difficult situations, especially in inclement weather, which contributes to many crashes – crashes that are counted in the human driver data Tesla is comparing itself against.
Lastly, it is unfair to say that the data proves FSD is safer than human drivers, as even with the flawed data, Tesla should claim that FSD with human supervision is safer than human drivers. It’s not FSD versus humans, it’s FSD plus humans versus humans.
It leads us to this.
With Tesla and Musk being undoubtedly wrong and misleading about the performance and the very nature of its current autonomous driving offering, I wanted to know your opinion about the situation through this poll:
Electrek’s Take
Personally, I think it’s a little of both.
I think he sometimes really believes Tesla is on the verge of solving autonomy, but at the same time, he is perfectly willing to cross the line and mislead people into thinking Tesla is further ahead than it actually is.
For example, I believe I can explain this comment about Waymo having “rookie numbers” despite the Alphabet company having about 10x more “robotaxis” than Tesla – even with Tesla’s very loose definition of a robotaxi.
Based on job listings across the US and his recent ridiculous comment that Tesla will magically cover half of the US population with robotaxis by the end of the year, I think Tesla is hiring thousands of drivers. Soon, it will put them in Model Ys with ‘Robotaxi’ stickers on them and have them drive on FSD and give rides in the Robotaxi app in several US cities.
Musk will claim that Tesla’s Robotaxi is now bigger than Waymo, even though it will basically be the equivalent of Uber drivers in Tesla cars with FSD, which is already the case. Just this week, I took an Uber from the Montreal airport, and it was in a Model Y with FSD. Has Tesla launched ‘Robotaxi’ in Montreal?
It’s either that or he counts consumer vehicles with FSD, which is even dumber.
In short, he is delusional, and when he realizes that he was wrong, he is willing to lie to cover things up.
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Solar and wind are growing fast enough to meet all new electricity demand worldwide for the first three quarters of 2025, according to new data from energy think tank Ember. The group now expects fossil power to stay flat for the full year, marking the first time since the pandemic that fossil generation won’t increase.
Solar and wind aren’t just expanding; they’re outpacing global electricity demand itself. Solar generation jumped 498 TWh (+31%) compared to the same period last year, already topping all the solar power produced in 2024. Wind added another 137 TWh (+7.6%). Together, they supplied 635 TWh of new clean electricity, beating out the 603 TWh rise in global demand (+2.7%).
That lifted solar and wind to 17.6% of global electricity in the first three quarters of the year, up from 15.2% year-over-year. That brought the total share of renewables in global electricity – solar, wind, hydro, bioenergy, and geothermal – to 43%. Fossil fuels slid to 57.1%, down from 58.7%.
Renewables are beating coal
For the first time in 2025, renewables collectively generated more electricity than coal. And fossil generation as a whole has stalled. Fossil output slipped slightly by 0.1% (-17 TWh) through the end of Q3. Ember expects no fossil-fuel growth for the full year, driven by clean power growth outpacing demand.
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China and India are partly driving that shift. In China, fossil generation fell 52 TWh (-1.1%) as clean energy met all new demand, resulting from a structural change in its power system. India saw fossil generation drop 34 TWh (-3.3%), thanks to record solar and wind growth and milder weather.
Solar is leading the charge
Solar is doing the heavy lifting. It’s now the single biggest driver of change in the global power sector, with growth more than three times larger than any other electricity source in the first three quarters of the year.
“Record solar power growth and stagnating fossil fuels in 2025 show how clean power has become the driving force in the power sector,” said Nicolas Fulghum, senior data analyst at Ember. “Historically a growth segment, fossil power now appears to be entering a period of stagnation and managed decline. China, the largest source of fossil growth, has turned a corner, signaling that reliance on fossil fuels to meet growing power demand is no longer required.”
Electricity demand rose 2.7% in the first three quarters of 2025, far slower than the 4.9% jump seen last year when extreme heatwaves pushed up cooling demand in China, India, and the US. This year’s milder weather helped take some pressure off the grid, making it easier for clean energy to close the gap.
A turning point for the global power system
For the first time outside of major crises such as the pandemic or the global financial crash, clean energy growth has not only kept up with demand but surpassed it. The next big question: can solar, wind, and the rest of the clean power sector keep up this pace consistently? If they can, 2025 may be remembered as the year global fossil generation plateaued.
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Genesis is taking luxury to the next level with its new flagship SUV. The GV90 is shaping up to be the brand’s most lavish vehicle yet, offering ultra-premium features like coach doors.
Genesis GV90 caught with coach doors in real life
After unveiling the Neolun Concept at the New York Auto Show last March, Genesis said it was a preview of its first full-size SUV.
The “ultra-luxe, state-of-the-art SUV,” as Genesis describes it, will be the brand’s largest and most luxurious vehicle yet, slotted above the GV80.
It wasn’t the stunning design or the over-the-top interior that caught most people’s attention, but the B-pillarless coach doors.
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Although we were worried that some of the ultra-premium features, like the coach doors, wouldn’t make it to the production model, new spy photos reveal otherwise.
A GV90 prototype was spotted out in public with the coach doors wide open, giving us our closest look at the setup. The new spy photos, courtesy of SH Proshots (via TheKoreanCarBlog), show the hinged door system in action and offer a glimpse of the interior.
Earlier this year, Hyundai Motor filed several patent applications with the United States Patent and Trademark Office, detailing new door latching devices.
Two patents, titled “Cinching Device For Door Latches in Vehicle” and “Door Latch Device for Vehicles,” offer a better idea of how the Genesis GV90’s coach doors will work.
Genesis has previously said that B-pillarless coach doors are now a reality in production vehicles. It looks like the GV90 will be the first to debut it.
Yes, the Genesis GV90 will be available with coach doors, but it likely won’t be standard on all trims. It could be a premium feature reserved for higher-priced variants. The GV90 has been spotted out in public several times now with a traditional door design. We’ve also caught a glimpse of other premium features it will offer, like adaptive air suspension.
The Genesis Neolun electric SUV concept (Source: Genesis)
Genesis has yet to reveal prices or final specs. We could see the GV90 debut by the end of the year, with sales expected to start in mid-2026.
One thing is for sure: The Genesis GV90 won’t be cheap. It’s expected to start around $100,000, but higher trims could cost upwards of $120,000.
Genesis Neolun electric SUV concept interior (Source: Hyundai Motor)
Earlier this week, a production version of the GV90 was caught for the first time driving in South Korea. It was still covered in camouflage, but from what’s shown, it looks nearly identical to the Neolun concept.
Reports suggest the flagship SUV could debut on Hyundai’s new eM platform. Hyundai claims the platform will deliver a 50% improvement in driving range per charge compared to its current EVs. It’s also expected to offer Level 3 autonomous driving and other advanced driver assist capabilities.
The flagship electric SUV will serve as a tech beacon, showcasing Hyundai’s latest tech and software. It’s expected to feature a massive 24″ curved infotainment as part of a digital cockpit design.
Genesis is also launching its first hybrid, the GV80, next year, and an extended-range electric vehicle (EREV) in late 2026 or early 2027. The luxury brand will also introduce a new off-road SUV as it expands into new segments.
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