Fisker says $5,000 Ocean One pre-orders have sold out, production set for Nov. 17

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Fisker Inc. FSR, +5.79% revealed Wednesday that 5,000 customers have paid $5,000 to pre-order the first electric Ocean SUVs produced by the company, and confirmed a November production launch of the vehicles. “We are delighted to announce that the 5,000 limited edition Fisker Ocean One pre-order units are completely sold out,” Chief Executive Henrik Fisker said in a statement. Fisker reported a second-quarter loss of $106 million, or 36 cents a share. Analysts on average expected a loss of 41 cents a share, according to FactSet. Reservations for the company’s first electric vehicle topped 56,000, up from 45,000 reported in May. The car is expected to start production on Nov. 17. Fisker reported more than $850 million in cash and equivalents as of the end of the quarter, and said that would be sufficient to fund the production launch as well as development through the end of the year. Fisker shares dipped slightly in after-hours trading after closing with a 5.8% gain at $10.41; they have declined 33.6% so far this year, while the S&P 500 SPX, +1.56% have declined 14.2%.

This article was originally published by Marketwatch.com. Read the original article here.

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