Fisker will spell out new strategy at upcoming auto dealers convention

Fisker Inc (NYSE: FSR) is in focus this morning after announcing plans of sharing its new strategy at an upcoming auto dealers convention.

Fisker executives will attend NADA

Top executives of the electric vehicles company will attend the National Automobile Dealers Association show on February 2^nd.

The announcement arrives shortly after Fisker committed to shifting from direct sales to dealers. Henrik Fisker – its chief executive said in a press release today:

Fisker is expected to report its financial results for the fourth quarter in late February. Consensus is for it to lose 20 cents a share versus 54 cents per share a year ago.

Dealer partnerships will boost cash

Fisker Inc is convinced that shifting to dealer partnerships will help improve its cash stature moving forward, as per its press release on Friday.

The EV company based out of Manhattan Beach, California had about $625 million in cash and equivalents (including restricted cash) at the end of its latest reported quarter. It also signed an agreement with an undisclosed institutional investor this week that is expected to free up cash (read more).

The New York listed firm has already attracted interest from some 100 dealers in Europe and North America. It will deliver its first vehicles to dealers next month, the press release added.

Wall Street currently has a consensus “hold” rating on $FSR that is currently trading at under 80 cents only.