Fisker’s Dealer Partnership Model

Fisker Inc FSR revealed its plans to develop a Dealer Partnership model in North America, while in Europe, it aims to pursue a hybrid of direct sales and dealer arrangements.

Ramping Up Network Expansion

The company has set a target to add as many as 50 dealer partners in the U.S. and Canada and a similar number of dealer locations in Europe this year. The primary objective of this dealer partnership approach is to amplify the expansion of Fisker’s sales, delivery, and test drive network.

Strategic Shift for High-Growth Start-Up

Fisker’s strategic pivot is aligned with its asset-light business model, as it gears up for an accelerated Fisker Ocean deliveries and higher volume production of future models. CEO Henrik Fisker highlighted, “As a high-growth startup, Fisker is transforming its strategic efforts by putting in place the brand accessibility and sales channels required to satisfy increasing demand for the Fisker Ocean and to prepare for the launch of additional future models.”

Global Focus on Expansion

In addition to North America, the EV maker will enlist sales and distribution partners in its European markets while continuing direct sales in the region. The move comes following the company’s production of 10,142 Fisker Oceans and delivery of approximately 4,700 vehicles in 2023.

Investor Reaction

Notably, FSR shares are trading slightly lower by 1% at $1.4750 at the last check on Thursday.

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