Fisker Shares Experience Uptick Ahead of CEO's NADA Show Appearance

Fisker Inc (NYSE: FSR), known for its electric vehicle innovations, saw its shares rise as the market responded positively to news concerning its strategic business moves. At the heart of this upswing is the company's CEO, Henrik Fisker, who is scheduled to attend the National Automobile Dealers Association (NADA) show, signaling a strategic pivot towards fostering dealer partnerships.

Strategic Dialogue at NADA

The NADA show is expected to serve as a platform for Henrik Fisker to detail the company's new direction, and he will be interviewed by NADA's Senior Vice President, Jonathan Collegio, on Friday, February 2. With over 100 North American and European dealers already interested in Fisker's Dealer Partnership model, the future looks promising for the auto maker.

Fisker's Transition to Dealer Partnerships

This move comes on the heels of Fisker's January 4 announcement, where the company revealed a major shift from its initial direct sales approach to a higher-volume production strategy that includes additional models, relying on dealer partnerships. Fisker expressed optimism regarding the partner model, anticipating it to bring in more cash flow compared to direct sales. The company anticipates delivering its first vehicles to these dealers as soon as February.

Future Expectations and Sales Forecast

The innovative Dealer Partnership strategy, supplemented by the continuation of direct sales, has Fisker expecting to sell out its entire stock of 2023 vehicles by the end of the first quarter. Delivery updates are slated to be released in the coming month. This strategic realignment is mirrored in the company’s stock performance, with Fisker shares witnessing a 5.62% increase in their trading price.

Fisker, Henrik, NADA