Fisker's Expansion into European Markets

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【Summary】Fisker Inc. is expanding its presence in Europe by launching in three new markets: Belgium, the Netherlands, and Switzerland. The company plans to establish retail locations and delivery and service centers in these countries, with deliveries expected to start in September. Fisker already operates in several other European countries. CEO Henrik Fisker emphasized the importance of establishing a strong presence in Europe. Fisker Inc.'s stock has dropped by 9.8% in the past three months.

FutureCar Staff Aug 28, 2023 9:20 AM PT

Fisker's Expansion into European Markets

Shares of Fisker Inc. FSR, -0.00 increased by 1.2% during premarket trading on Monday. This surge came after the electric vehicle manufacturer announced its plans to expand into three new markets in Europe. Fisker Inc. intends to establish retail locations, delivery centers, and service centers in Belgium, the Netherlands, and Switzerland. The company aims to start delivering its vehicles in these markets by the end of September. It is worth noting that Fisker Inc. already has a presence in several European countries, including Austria, Denmark, France, Germany, Norway, Sweden, and the United Kingdom.

Chief Executive Henrik Fisker emphasized the importance of establishing a strong early presence in Europe, stating, "Ultimately, we want to sell our vehicles all over the world, but creating a strong early presence in Europe has always been one of our highest priorities."

Despite the positive news, Fisker Inc.'s stock has experienced a decline of 9.8% over the past three months, as of Friday. In comparison, the S&P 500 has gained 4.8% during the same period.