Fisker stock rose after the company revealed on Friday that its Ocean all-electric SUV would be unveiled in Europe at the Mobile World Congress in Barcelona.

With a starting price of $37,499, the Fisker Ocean boasts a range of 250 miles. The Ocean cars were originally scheduled to begin production in late 2021 or early this year, but that date has now been pushed out to November 2022 due to delays.

According to the company's news release, delivery will commence in select European countries and North America once production begins in over 8 months.Fisker Karma - Wikipedia

Fisker just opened an office in Munich, Germany, and is now constructing a brand experience center.

"As we move toward the commencement of production in November at a carbon-neutral factory in Austria, Europe is critical to our company," Fisker CEO Henrik Fisker said.

"We plan to build the world's most environmentally friendly vehicle this year and begin deliveries in Europe. We hope to sell 60,000 units per year in the region in the long run "Added he.

Fisker's stock is up 5.3% in early trading on Friday.