Fisker Rises Following Paris Motor Show By


© Reuters. Fisker (FSR) Rises Following Paris Motor Show

By Michael Elkins

Shares of Fisker Inc (NYSE:) are up 3.42% in pre-market trading on Monday after the company’s CEO, Henrik Fisker spoke at the Paris Motor Show. Fisker indicated that the electric vehicle company plans to set up a production site in the US to qualify for EV subsidies. The CEO added that the automaker should be able to produce its Ocean SUV model in the US by 2024.

European-made models are due to enter production in November and are scheduled to become available in 2023 in major markets like the UK. The company’s Austrian production partner Magna Steyr has produced 95 prototypes of the Ocean SUV, according to a September press release.

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