Fisker secures further dealer partnerships

OEM also expands its European dealer network as drastic price cuts continue

Fisker secures further dealer partnerships
Fisker has slashed the price of several Ocean SUV trims

Struggling EV maker Fisker has signed a further dealer partnership in Florida in a bid to stoke up deliveries as the firm battles its ongoing liquidity crisis.

The OEM looks in ever-growing danger of going bust after negotiations for a collaboration with a prospective OEM partner fell through last month. Earlier that month, Fisker had warned investors that its ability to continue operating likely depended on the completion of the deal. 

The dealer news has seen Fisker's share price jump by a seemingly impressive 120pc. However, the rise somewhat flatters to deceive, as it is relative to a meagre starting point of $0.0025/share. Fisker stock is still valued below $0.01/share.

"In addition to the new US dealer partner, Fisker has signed dealer partners in Hilleord, Denmark, and Innsbruck, Austria, bringing its European total to 12 dealer partners," the company says.

The new European dealers will supplement Fisker's existing partners in Austria, France, Germany, Norway, and Switzerland. Fisker first adopted a hybrid sales model involving both dealers and direct sales in January after it admitted to struggling to scale its delivery infrastructure.

The automaker has also extended price reductions seen in the US — which run the risk of significantly tanking residual value for those already Fisker owners — to its vehicles in the European and Canadian markets.

In late March, Fisker lowered the MSRP of the 2023 Ocean Extreme trim by $24,000, to $37,500 from $61,500. The 2023 Ultra trim was also reduced from $52,500 to $35,500, and the 2023 Sport to $24,500, down from $39,000.

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