Electric-vehicle startup Fisker again cut its production forecast for the year, saying it is prioritizing liquidity while it holds talks to sell emission credits to automakers.
Shares slipped about 1% to $1.56 shortly after the opening bell. Before the updated outlook, the stock had fallen 78% in 2023 as the company dealt with delivery issues, management changes, a broader slowdown in EV sales growth and cash concerns.
Fisker on Friday said it now expects to produce just over 10,000 vehicles this year. Last month, Fisker cut its production target to between 13,000 and 17,000 vehicles for the year. Fisker had previously set a target of producing more than 20,000 vehicles by the end of the year.