Fisker’s (FSR) stock is soaring after announcing EV deliveries climbed over 300% from last quarter. The EV maker plans to accelerate its pace after delivering around 4,700 Fisker Oceans in 2023.
Fisker stock on the rise following EV deliveries update
In its December business update, Fisker announced it had built 10,142 Ocean electric SUVs this year, delivering roughly 4,700.
“We became a revenue-generating company in 2023,” CEO Henrik Fisker explained. The growth comes despite several supply chain issues that led to early delays. Fisker said the company has “largely overcome” them as it looks ahead to a new year.
Fisker began delivering vehicles in June. The company said EV deliveries rose over 300% from Q3 to Q4.
With 1,097 Ocean EVs sold in Q3, that suggests Fisker delivered around 3,600 EVs in the fourth quarter. Fisker began delivering in Canada in December and is now in 12 markets in total.
Most of the EVs delivered were the Fisker Ocean One launch edition, starting at around $69,000. Earlier this week, Fisker handed over its first Ocean Sport model. The electric SUV features up to 231 miles EPA range and starts under $40,000.
Fisker Ocean electric SUV (Source: Fisker)
The brand has opened four flagship lounges (LA, NYC, London, and Munich) and several delivery locations in the US and Europe as it expands its network.
Fisker said it intends to announce a plan in January that includes further accelerating sales and EV deliveries. The company claims the new strategy aligns with strong demand for the Fisker Ocean and its production capabilities.
Fisker (FSR) stock chart over the past 12 months (Source: TradingView)
Fisker’s stock was up around 20% on Friday following the news. However, Fisker shares are still down nearly 74% over the past 12 months.
Although Fisker is growing, the EV maker is still far from where it had expected to be at this time. Fisker initially said it aimed to produce 42,400 EVs this year, but that was lowered to 32,000 to 36,000 in May.
Despite ramping output over the past few months, Fisker is still far from where it expected to be at this time.
With 10,142 EVs built in 2023, that’s over 75% off its initial target of 42,400. Several EV startups, including Lucid, cut production goals this year amid rising interest rates and new competition. Other automakers, including Ford and GM, are slowing EV initiatives.
EVs are expected to continue gaining market share globally. However, some companies with more competitive models, like Tesla, are pulling away from the pack. Others, like Ford and Toyota, are leaning on hybrids with less competitive models. Those doubling down on EVs now will continue winning buyers over.
Fisker plans to accelerate the momentum in 2024 as it expands its network globally. We’ll keep you updated with the latest.
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That was more than 50,000 miles ago, and the car is still going strong!
Take a good look at that digital dashboard display up there, and you might notice the Hyundai IONIQ 5’s odometer is sitting pretty at 666,255 km. That’s over 413,990 miles, and the South Korean EV is, reportedly, still racking up miles — and fast! Over at the Facebook Group Mileage Impossible, the car’s owner claimed he covered all those miles in less than three-and-a-half years … which works out to just under 10,000 miles per month! (!!!)
Nearly 400 miles per day
Nearly 10,000 miles/mo.; via Mileage Impossible.
Like any vehicle being driven extreme miles, Hyundai’s excellent IONIQ 5 isn’t perfect. That means a bunch of stuff broke, including the car’s Integrated Charging Control Unit (ICCU), which means it can’t currently be charged on AC (L1/L2) charger. And, while electric cars don’t need oil changes, they do need other types maintenance, and the differential oils and brake fluids have been regularly changed on this car — which, no doubt, has contributed to its longevity.
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The most significant repair to date was the battery replacement at 360,000 miles (almost 55,000 miles ago, by my math). Remarkably, Hyundai covered the cost of the replacement despite the battery being way, way beyond its original 10 year/100,000 mile warranty.
The most impressive part of all this? Even after enduring 360,000 miles and countless fast-charging cycles, the battery reportedly retained 87% of its original health. (!)
Electrek’s Take
The caption reads, “free replacement of battery, motor, and reduction gear at 580,000 km.”
And now, with this 400,000 IONIQ 5, Hyundai has a shining example of the fact that its soon-to-be American-made EVs can go the distance.
Hyundai is still offering 0.99% APR financing for 60 months on all versions of the hot-selling 2025 IONIQ 5, as well as up to $7,500 in Retail Bonus Cash, which (when combined with other incentives in certain markets) can make a huge difference to customers’ bottom line. It doesn’t look like the two offers can be combined, however, so be sure to do the math and see which deal makes the most sense for you.
Porsche is launching a new EV battery recycling pilot to recover valuable raw materials from its cars’ high-voltage battery packs at the end of their useful life in vehicles. The new pilot hopes to develop a “closed-loop” raw material cycle that would have new batteries made from old batteries without the need for new, high carbon cost mineral mining.
With this new initiative, Porsche engineers hope to address the growing importance of recycled battery raw materials and promote the responsible handling of high-voltage batteries at the end of life.
In the long term, a recycling network for EV batteries is planned to be established in collaboration with external partners.
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“With the help of innovative recycling processes, we strive to increase our independence from volatile and geopolitically unstable raw material markets,” says Barbara Frenkel, Executive Board Member for Procurement at Porsche. “Circular Economy is a core pillar of our sustainability strategy, and with this pilot project, we want to underscore our ambitions.”
Three phase plan
“Second Life” concept uses EV batteries as backup power; via Porsche.
Porsche is advancing its commitment to sustainability by embracing the principles of, “reduce, reuse, recycle.” The company is developing more efficient electric vehicles with longer-lasting batteries, which are repurposed in “Second Life” Battery Energy Storage Systems (BESS) like the one implemented at its Leipzig plant (above). Now, through a new closed-loop recycling pilot, Porsche is emphasizing that “recycle” part by approaching the project in three phases.
In the first project phase, EV batteries from development vehicles are mechanically shredded at the end of their use-phase and processed into “black mass” that contains valuable raw materials like nickel, cobalt, manganese, and lithium. So far, the program has produced about 65 tons of processed black mass.
In the next phase, the black mass is further separated and refined until the materials reach both the levels of quality and purity Porsche demands from the “virgin” materials it buys for its new batteries.
In the third phase, Porsche takes the raw materials recovered from its decommissioned high-voltage batteries and makes new batteries with them, demonstrating Porsche’s, “holistic understanding of the circular economy.”
Porsche hopes its new pilot will help prepare the company for upcoming regulatory changes – for example, the expected requirements for batteries in the European Union by 2031. By adopting recycled materials early, the company says it intends to make an active contribution to the technology while further reducing its environmental impact.
New 5-passenger G30Es electric golf cart (right); via Yamaha.
Yamaha has announced plans to launch a pair of new five-seater electric golf carts featuring new lithium-ion batteries and vehicle control units developed in-house this June. The launch is scheduled to coincide with the company’s 50 year anniversary in the golf car/golf cart business.
Yamaha Motor launched its first golf cart, the YG292 “Land Car,” in June 1975. That original golf cart was powered by the company’s air-cooled, 292cc 2-stroke snowmobile engine, while its fiber-reinforced plastic (FRP) composite bodywork was developed using the companies maritime and boat-building expertise.
The in-house developed batteries use lithium iron phosphate (LFP) chemistry in their cells, with the company claiming higher levels of reliability and an extended lifespan compared to other battery chemistries it’s worked with. The Yamaha batteries are available in both 4 kWh and 6 kWh capacities, enabling buyers to tailor their choice based on their individual driving range requirements, course conditions, and individual play/mobility preferences.
Both new models are 144.5″ (367 cm) long and 49.5″ (125 cm) wide, with an 84.25″ (214 cm) wheelbase, and are powered by an AC motor with, “superior speed and torque control, combined with optimized regenerative braking and a brushless design,” that, according to Yamaha, give the brand’s new golf carts far greater efficiency than the company’s previous models, resulting in 30% better efficiency.
You can check out more detailed pictures of the Yamaha-developed parts and full specs, below, then let us know what you think of the tuning fork brand’s newest mobility products in the comments.