(Reuters) – Fisker Inc on Tuesday minimize its full-year manufacturing goal because the electric-vehicle startup seeks to maintain a leash on bills and posted a smaller first-quarter loss.
The corporate’s shares fell 3% in buying and selling earlier than the bell.
The California-based firm now expects between 32,000 and 36,000 models to be produced in 2023, in contrast with its earlier goal of 42,400 automobiles.
For the second quarter, the corporate expects to provide between 1,400 and 1,700 autos.
The corporate reported a web lack of $120.6 million, or 38 cents per share, for the primary quarter, in comparison with a lack of $122.07 million, or 41 cents per share, a 12 months earlier.
(Reporting by Tiyashi Datta and Tanya Jain in Bengaluru; Modifying by Sriraj Kalluvila)
