Electric vehicle manufacturer Fisker Inc. (FSR) is aiming to deliver a climate-neutral vehicle by 2027.
Fisker is looking to use only climate-neutral materials in its products and to make use of only climate-neutral services in support of the business.
Fisker Chairman and CEO Henrik Fisker said, “We plan to radically disrupt the mobility industry by setting an ambitious goal for ourselves: to produce a climate-neutral vehicle by 2027. We put people and the planet at the forefront of our mission, ensuring a cleaner future for all.” (See Fisker stock analysis on TipRanks)
Fisker added, “The company recognizes the challenges of producing and delivering products without creating greenhouse gas (GHG) emissions. The supply chains of suppliers and logistics partners may contain offsets to achieve climate neutrality.”
In order to assess the environmental impact of products and its stated goal, Fisker will study, calibrate and innovate across the five phases of the vehicle life cycle: sourcing, manufacturing, logistics, use phase, and end-of-life recycling.
Additionally, to drive continuous improvements in product development, Fisker is using its in-house system, Fisker-Flexible Platform Adaptive Design (FF-PAD). The company is working in tandem with its manufacturing partners Magna and Foxconn to achieve this goal.
On May 18, Morgan Stanley analyst Adam Jonas reiterated a Buy rating on the stock with $40 price target (151.3% upside potential).
Reacting to the company’s Q1 performance, Jonas noted its operating loss was narrower than estimates and its cash position in Q1 was better than expectations.
Consensus among analysts is that Fisker is a Moderate Buy based on 4 Buys, 2 Holds, and 1 Sell. The average analyst price target of $23.83 implies 49.7% potential upside for Fisker stock.
Shares have gained about 41.1% over the past month.