Fisker Inc. announced on April 15 the expansion of its dealer network to six in the U.S., with the addition of a new dealer partner in Miami, FL.
"Florida is an important EV market for Fisker, so we are excited that we can welcome Fisker Miami to our growing group of dealer partners," a company spokesperson said.
Fisker announced a switch from a direct-to-consumer sales model to a dealer partnership model in January.
Following the news of the new U.S. dealer, Fisker's shares were trading nearly 35% higher, at $0.0321, on April 15.
In addition to its U.S. expansion, Fisker's presence in Europe has also grown, with new dealer partners in Hilleord, Denmark, and Innsbruck, Austria, bringing the European total to 12. The company has previously established partnerships in several key European markets, including Austria, France, Germany, Norway and Switzerland.
On March 27, Fisker announced price reductions in its 2023 Ocean SUV line in the U.S., lowering the price of the Extreme trim by $24,000 -- from $61,499 to $37,499.
In addition, the Ultra trim was priced at $34,999, reduced from the prior $52,999; and the Sport was priced at $24,999, reduced from the prior $38,999. Those price cuts on 2023 model year vehicles went into effect March 29. Fisker has announced similar reductions in Canada and Europe.
The dealer network expansion and price cut announcements came after a tumultuous start to 2024 for the California-based EV maker.
Earlier in March, Fisker paused production on its Ocean SUV line for six weeks, to “align inventory levels and process strategic and financing initiatives.”
Fisker said it had received another $150 million from an existing investor, and was negotiating with a large automaker on a possible deal that could include a jointly developed EV platform. That news temporarily buoyed its stock.
However, five days later, Fisker announced those talks had fallen through. After that news, trading was halted on Fisker stock, and the NYSE moved to delist the stock, expected to happen April 22.
