Fisker (FSR) soars following announced certification of Ocean SUV

Shares of Fisker Inc. (NYSE: FSR) are up 8.34% in pre-market trading on Wednesday after the electric automaker announced that European regulators have certified the all-electric Fisker Ocean SUV. The company intends to start deliveries to European customers on May 5.

"The entire Fisker team is excited to get the Fisker Ocean One launch edition to our reservation holders," said Chairman and CEO Henrik Fisker. "Our first delivery is expected for May 5. After that, we intend to deliver all Ocean Ones by the end of September while also initiating some deliveries of the Fisker Ocean Extreme, starting in Europe with the U.S. to follow."

Fisker recently announced a WLTP certification in Europe of up to 707 km/440 UK miles (on 20-inch wheels and tires) for the Fisker Ocean Extreme trim level, the longest of any battery-electric SUV currently on sale in the region.

The company has also pursued a dual homologation process for the Fisker Ocean in Europe and the United States simultaneously, an atypical approach to adjust production and sales based on regional demand.

"Our unique business model enables this level of flexibility, which we are now capitalizing on," Henrik Fisker said, noting that the announcement of the WLTP range for the Fisker Ocean Extreme led to an increase in European reservations.

By Michael Elkins | [email protected]

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