Fisker shows production ready Pear and hints at Ocean getting longer EPA range

Fisker had a couple of aces hiding in its sleeve and played an interesting game the last couple of days. First the company delayed its earnings call which resulted in a flurry of rumors and market responding by shares sliding even further than they already did for the last 12 months.

Then the earnings call came and, despite much lower earnings than expected, the outlook actually is very positive for the company. The market responded with share price rising so Fisker threw a few more coals into the fire - details and photos of the upcoming Pear, the second EV from the company, and positive updates on the long awaited Ocean. The market went wild - 14.55% up and holding steady.

For the first time we have a good look at Pear, an electric car that Fisker is adamant will be sold starting at $29,900 before any incentives. While all along the company was talking about the Pear being a small, city EV, the vehicle we have in front of us is a 5-door crossover not that much smaller than the Fisker Ocean.

We can clearly see the wrap-around windshield that apparently offers unprecedented view forward, there is the signature solar roof and an interesting taillight wrapping around the entire rear window. Apparently Pearl sits higher off the ground than the Ocean does making it a rather interesting choice.

Fisker confirmed during the earnings call, that the company received over 5,600 orders for the Pear already, despite no details of the EV yet available. The car will have “truly revolutionary architecture with just a few central computer units” according to Fisker himself and the version with the biggest battery will have over 300 miles or 483 km of range.

As for the Fisker Ocean, the US homologation is slowly progressing, the company confirmed that EPA and WLTP testing has been finalized with consumption results better than the estimates. Henrik Fisker suggested that the highest range model will get very close to 700 km WLTP range.

The company aims to manufacture just over 42,000 units of Ocean this year which means many of the 65,000 customers who ordered one already are up for a long wait. Buyers don’t mind, or so it seems, the order numbers keep going up despite Tesla and other brands lowering their prices which again suggests Fisker already has a decent brand following.

If everything works out for Fisker and there are no supply chain issues and the company in fact manages to deliver 42,000 vehicles this year, it will be huge news for the company. It means it will be able to turn profit for the first time (EBITDA - before taxes and other deductions) which would be a great vindication for its business model and almost unheard of in the automotive industry. As usual - let the time be the judge.

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