Fisker (NYSE:FSR) stock jumped about 18% in early trading after the electric vehicle (EV) startup disclosed that it had delivered about 4,700 EVs in 2023, while its total deliveries had jumped 300% during the current quarter versus the third quarter.

Moreover, the automaker reported that it would unveil a plan next month to boost its sales and deliveries beyond the levels reached in the fourth quarter.

More Information About Fisker’s Production and Deliveries

Most of the EVs delivered by Fisker in 2023 were its Fisker Ocean One Launch Edition, which has a minimum cost of $68,999.

The firm, which began delivering EVs in June 2023, produced over 10,000 vehicles this year.

“Emerging from COVID-19 created several issues for our supply chains, but we have largely overcome them,” CEO Henrik Fisker said in a statement.

Fisker’s 2024 Plans and FSR Stock

Fisker intends to “accelerate (its) delivery pace in 2024,” its CEO reported. Also, next year, the firm will seek to host more “test-drive events… in the US and Europe,” as it stated that its sales rates have been higher in the wake of test drives.

Additionally, by collaborating with other firms and obtaining more real estate, the automaker is attempting to increase the number of EVs that it can deliver per month.

Finally, the company plans to implement over-the-air software updates in January and February in order to add new features to the EVs that it has already delivered.

Heading into today, FSR stock had fallen 4% in the last month, 76% in the last three months, and 79% in 2023.

On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.