U.S. electric car manufacturer Fisk It is estimated that operating expenses will reach US$490 million to530 This year’s business outlook has increased slightly, driven by its prototype R&D expenditure Ocean SUV, Testing and verifying advanced technology, recruitment and its “accelerated” partnership with Foxconn.

The company announced its second-quarter earnings after the market closed on Thursday, raising its forecast for key non-GAAP operating expenses and capital expenditures for the full year from the previous US$450 million to US$510 million. The revenue report pointed out that the R&D expenditure for prototype activities in 2022 will be driven by the testing and verification of advanced driver assistance systems, powertrains, and user interfaces.The company also noticed increases in internal cost expenditures, such as virtual verification software tools, recruitment, and virtual and physical testing in response to the recent tightening of Euro NCAP and International Institute of Health and Safety Safety regulations.

Co-founder, chief financial officer and chief operating officer Geeta Gupta Fisker added in an investor conference call that the company production A sort of strategy Decide arrive develop Internal ability arrive test and Confirmed, instead of rely on alone exist third Party.

Co-founder and CEO Henrik Fisker said in an interview on Thursday that its cooperation with Foxconn “is progressing faster than expected,” which also helps increase spending.

“We are really in agreement,” Fisk said in an interview on Thursday. “I mean this is a very unique business transaction because we are all investing in this project; it’s not like we just hire Foxconn to make cars.”

Fisker has two vehicle programs under development.Its first Electric carThe Fisker Ocean SUV will be assembled by European car manufacturer Magna Steyr. The company reiterated on Thursday that production is still expected to start in November 2022. Europe and the United States will start deliveries at the end of 2022, and plan to reach a monthly production capacity of more than 5,000 vehicles in 2023. China It is also expected to start in 2023.

In May of this year, Fisker signed an agreement with Foxconn, a Taiwanese company that assembles iPhones, to jointly develop and manufacture new electric vehicles. Henrik Fisker said that the two companies advanced the design “quite quickly” and are now studying engineering and technical details, including patents for a new way of opening suitcases and other technological innovations.

“We are accelerating very fast, and we may have some early prototypes by the end of this year,” he said.

The two companies also decided that this electric car will be designed specifically for urban lifestyles.

“You can’t make a car for everyone,” he said. “You can’t make cars for farmers and people living in apartments; these are two different vehicles, so we chose an urban lifestyle for this car.”

The production of Project PEAR cars represents the personal electric vehicle revolution and will be sold under the Fisker brand in North America, Europe, China and India. Fisker said on Thursday that it expects to start pre-production in the United States at the end of 2023, and then accelerate to the next year.

Henrik Fisker did not disclose the manufacturing location in the United States. He did visit Foxconn’s manufacturing plant in Wisconsin recently and pointed out that it is an “impressive” plant, as is the supply chain in the region. Fisker pointed out that the final decision lies with Foxconn. However, Fisker hopes to produce electric cars while allowing automakers to sell directly to customers. Wisconsin currently prohibits this practice.

“This will be one of the main things we have to change when we go to the store to sell electric cars,” he pointed out.

Benefit result

The following is the basic information of the company’s second quarter earnings. Keep in mind two important factors: Fisker was not publicly traded at this time last year, and there is no annual comparison available; this company is basically pre-revenue, although they did get $27,000 from merchandise sales.

Fisker reported that it generated $27,000 in revenue, an increase of 22% from the previous quarter. The automaker reported a net loss of US$46.2 million, or a loss of US$0.16 per share, compared with a net loss of US$176.8 million in the previous quarter. The huge net loss in the first quarter came from changes in the way the US Securities and Exchange Commission handles non-cash items and resulted in warrants liabilities of $138 million in the first quarter. The public warrants have now been suspended, and the company said it will no longer have these effects on future earnings.

The operating loss in the second quarter was US$53.1 million, compared with a loss of US$33 million in the first quarter. Importantly, the company has been using what it calls a “asset-light” method to retain cash, which means it is not building factories, but relying on partners. For the quarter ended June 30, cash and cash equivalents were US$962 million, slightly lower than the US$985.1 million in the first quarter.

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