Fisker held its third-quarter earnings call this week, during which the automaker cut its production forecast significantly for the year.
After Fisker delayed its Q3 earnings call from the planned date of November 8, the automaker officially held the call on Monday. During the call, Fisker said it is cutting its 2023 production forecast to 13,000-17,000 units, down from its previous goal of 20,000-23,000 units (via Automotive News). The Fisker Ocean was delivered to its first customer in May, and the California-based automaker says it has had difficulty delivering the vehicles it has produced.
“We have not been able to follow through with deliveries fast enough,” CEO Henrik Fisker said on Monday’s earnings call. “People have paid and are waiting for their cars, and some of them are getting really annoyed.”
Since Fisker doesn’t have its own manufacturing facility, it relies on its partners to produce its vehicles.
Fisker delivered a total of 1,097 Oceans in Q3, while it produced as many as 4,725 units. The company said it has delivered an additional 1,200 units in October, and it’s on pace to deliver even more in November. The automaker also plans to accelerate deliveries and production even further in the months to come, and CEO Fisker says the company is delivering in 10 countries, including the U.S. and across Europe.
@FiskerInc that’s great that you are lowering prices, however, maybe focus on delivering on time to those customers who paid and are awaiting. You were supposed to deliver our car on Friday 10/27. We received no car and could not get in touch with anyone. What is going on??
— Asma Ibrahim (@asmaibrahim83) October 31, 2023
Currently, the automaker plans to add logistics partners to help catch up on deliveries from its Graz, Austria plant, which builds the Ocean under contract. The company plans to lease its own facilities and increase staff to help delivery catch up with production.
Henrik’s spouse and company CFO Geeta Fisker said the updated forecast would give the company more time to scale its logistical platform, in order to aid the delivery catch-up.
“This is a very prudent change that we need to do to enable our global delivery and logistics platform to scale so we can serve our customers even better and we are not sitting on inventory,” Geeta Fisker. “It may be not be something Wall Street wants to hear.”
Last month, Fisker cut the price of the high-end Ocean Extreme to $61,499 in North America from its previous price of $68,999, and it increased lower-priced variants, both of which the company said were to address “competitive realities in the rapidly growing EV market.”
After the Ocean, Fisker plans to launch two EVs, an affordable crossover, dubbed the Pear, along with a mid-size electric pickup, called the Alaska. The Pear is expected to start at a price of $29,900 and will be produced at an upcoming factory in Ohio.
“We have two cars that are almost ready. We can bring them to market fast — we just need the capacity,” Fisker told Reuters last week in Germany.
What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.
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Tesla AI team burns the Christmas midnight oil by releasing FSD v14.2.2.1
The update was released just a day after FSD v14.2.2 started rolling out to customers.
Tesla is burning the midnight oil this Christmas, with the Tesla AI team quietly rolling out Full Self-Driving (Supervised) v14.2.2.1 just a day after FSD v14.2.2 started rolling out to customers.
Tesla owner shares insights on FSD v14.2.2.1
Longtime Tesla owner and FSD tester @BLKMDL3 shared some insights following several drives with FSD v14.2.2.1 in rainy Los Angeles conditions with standing water and faded lane lines. He reported zero steering hesitation or stutter, confident lane changes, and maneuvers executed with precision that evoked the performance of Tesla’s driverless Robotaxis in Austin.
Parking performance impressed, with most spots nailed perfectly, including tight, sharp turns, in single attempts without shaky steering. One minor offset happened only due to another vehicle that was parked over the line, which FSD accommodated by a few extra inches. In rain that typically erases road markings, FSD visualized lanes and turn lines better than humans, positioning itself flawlessly when entering new streets as well.
“Took it up a dark, wet, and twisty canyon road up and down the hill tonight and it went very well as to be expected. Stayed centered in the lane, kept speed well and gives a confidence inspiring steering feel where it handles these curvy roads better than the majority of human drivers,” the Tesla owner wrote in a post on X.
Tesla’s FSD v14.2.2 update
Just a day before FSD v14.2.2.1’s release, Tesla rolled out FSD v14.2.2, which was focused on smoother real-world performance, better obstacle awareness, and precise end-of-trip routing. According to the update’s release notes, FSD v14.2.2 upgrades the vision encoder neural network with higher resolution features, enhancing detection of emergency vehicles, road obstacles, and human gestures.
New Arrival Options also allowed users to select preferred drop-off styles, such as Parking Lot, Street, Driveway, Parking Garage, or Curbside, with the navigation pin automatically adjusting to the ideal spot. Other refinements include pulling over for emergency vehicles, real-time vision-based detours for blocked roads, improved gate and debris handling, and Speed Profiles for customized driving styles.
Elon Musk
Elon Musk’s Grok records lowest hallucination rate in AI reliability study
Grok achieved an 8% hallucination rate, 4.5 customer rating, 3.5 consistency, and 0.07% downtime, resulting in an overall risk score of just 6.
A December 2025 study by casino games aggregator Relum has identified Elon Musk’s Grok as one of the most reliable AI chatbots for workplace use, boasting the lowest hallucination rate at just 8% among the 10 major models tested.
In comparison, market leader ChatGPT registered one of the highest hallucination rates at 35%, just behind Google’s Gemini, which registered a high hallucination rate of 38%. The findings highlight Grok’s factual prowess despite the AI model’s lower market visibility.
Grok tops hallucination metric
The research evaluated chatbots on hallucination rate, customer ratings, response consistency, and downtime rate. The chatbots were then assigned a reliability risk score from 0 to 99, with higher scores indicating bigger problems.
Grok achieved an 8% hallucination rate, 4.5 customer rating, 3.5 consistency, and 0.07% downtime, resulting in an overall risk score of just 6. DeepSeek followed closely with 14% hallucinations and zero downtime for a stellar risk score of 4. ChatGPT’s high hallucination and downtime rates gave it the top risk score of 99, followed by Claude and Meta AI, which earned reliability risk scores of 75 and 70, respectively.
Why low hallucinations matter
Relum Chief Product Officer Razvan-Lucian Haiduc shared his thoughts about the study’s findings. “About 65% of US companies now use AI chatbots in their daily work, and nearly 45% of employees admit they’ve shared sensitive company information with these tools. These numbers show well how important chatbots have become in everyday work.
“Dependence on AI tools will likely increase even more, so companies should choose their chatbots based on how reliable and fit they are for their specific business needs. A chatbot that everyone uses isn’t necessarily the one that works best for your industry or gives accurate answers for your tasks.”
In a way, the study reveals a notable gap between AI chatbots’ popularity and performance, with Grok’s low hallucination rate positioning it as a strong choice for accuracy-critical applications. This was despite the fact that Grok is not used as much by users, at least compared to more mainstream AI applications such as ChatGPT.
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Tesla (TSLA) receives “Buy” rating and $551 PT from Canaccord Genuity
He also maintained a “Buy” rating for TSLA stock over the company’s improving long-term outlook, which is driven by autonomy and robotics.
Canaccord Genuity analyst George Gianarikas raised his Tesla (NASDAQ:TSLA) price target from $482 to $551. He also maintained a “Buy” rating for TSLA stock over the company’s improving long-term outlook, which is driven by autonomy and robotics.
The analyst’s updated note
Gianarikas lowered his 4Q25 delivery estimates but pointed to several positive factors in the Tesla story. He noted that EV adoption in emerging markets is gaining pace, and progress in FSD and the Robotaxi rollout in 2026 represent major upside drivers. Further progress in the Optimus program next year could also add more momentum for the electric vehicle maker.
“Overall, yes, 4Q25 delivery expectations are being revised lower. However, the reset in the US EV market is laying the groundwork for a more durable and attractive long-term demand environment.
“At the same time, EV penetration in emerging markets is accelerating, reinforcing Tesla’s potential multi‑year growth runway beyond the US. Global progress in FSD and the anticipated rollout of a larger robotaxi fleet in 2026 are increasingly important components of the Tesla equity story and could provide sentiment tailwinds,” the analyst wrote.
Tesla’s busy 2026
The upcoming year would be a busy one for Tesla, considering the company’s plans and targets. The autonomous two-seat Cybercab has been confirmed to start production sometime in Q2 2026, as per Elon Musk during the 2025 Annual Shareholder Meeting.
Apart from this, Tesla is also expected to unveil the next-generation Roadster on April 1, 2026. Tesla is also expected to start high-volume production of the Tesla Semi in Nevada next year.
Apart from vehicle launches, Tesla has expressed its intentions to significantly ramp the rollout of FSD to several regions worldwide, such as Europe. Plans are also underway to launch more Robotaxi networks in several more key areas across the United States.
Tesla AI team burns the Christmas midnight oil by releasing FSD v14.2.2.1
Elon Musk’s Grok records lowest hallucination rate in AI reliability study
