Fisker (NYSE:FSR) shares are inching upward today after the EV maker initiated the deliveries of 22 Fisker Ocean One launch edition SUVs in the U.S.
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The model offers a 360-mile range and additional deliveries are expected to continue through the summer. Impressively, Fisker has adopted a dual-market certification strategy and has already started deliveries in Europe.
Additionally, Fisker is also planning to open a delivery center in China this year and is aiming to deliver the first Ocean SUV in the first quarter of 2024. The company’s top brass recently made a pilgrimage to China and Henrik Fisker the CEO of the company commented, “I believe we can get production up and running in China as early as next year, potentially adding capacity of 75,000 Fisker Oceans annually.”
Overall, the Street has a $9.40 consensus price target on Fisker alongside a Hold consensus rating. Shares of the company have dropped about 42% over the past year while short interest in the stock still remains high at about 35% at present.
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