Credit: Fisker

Fisker considering Ocean’s production expansion beyond 50k units per year from 2024

Written by Cláudio Afonso | | LinkedIn | Twitter

Fisker said on Friday it is considering expanding the initial production pace of 50,000 units per year for its first model Fisker Ocean due to increasing enthusiasm worldwide.

The electric vehicle maker added that is also exploring manufacturing in the U.S. which would make its vehicles eligible for the recently approved EV tax Credit.

Last Friday, the company said it sold out the 2023 planned production of Fisker Ocean Sport and Ultra trims for the U.S. market. The company added that it is “exploring US manufacturing sites” and considering an increase in Ocean’s production in late 2023.

Fisker CEO Henrik Fisker commented, “The enthusiasm we’re seeing worldwide for the Fisker Ocean is nothing short of humbling. With our partners at Magna, test vehicles are rolling off the line at the carbon-neutral manufacturing plant in Graz, where we are working diligently on expanding production numbers beyond the current projection of 50,000 units per year”.

“We are also exploring expanding operations to meet this growing demand, including considering manufacturing in the United States. And with our disciplined spending, strong cash position, extraordinary operational flexibility, strong relationships with our suppliers, and a diversified, high line-of-sight potential revenue stream for the first year, we’re full speed ahead on all fronts. I’m looking forward to seeing the very latest pre-production Fisker Ocean vehicles come off the line when I visit the Magna plant in September,” Fisker CEO added.

The model will be at Pebble Beach Concours d’Elegance in the coming days at Concours Village hitting up “all the hot spots around the Pebble Beach festivities until Sunday, August 21, 2022,” the company said.

On Monday, the CEO said on LinkedIn the Extreme trim of the company’s first model Fisker Ocean has “over $30k of standard options” in comparison with the Ultra trim adding that Fisker will unveil further details in October.

Earlier in the week, the company published its Environmental, Social and Governance (ESG) impacts report, the first for the company before production begins in November 2022 at the Magna plant in Austria.

In the report, the company claims that 50% of the suppliers prioritize EV and non-fossil fuel transport and that its SolarSky, a rooftop solar panel supplementing battery power, can add up to 1,500 miles of range annually, enhancing the Ocean’s 250-350 mile per charge range.

Recently, Fisker reported its second quarter earnings results where it confirmed the sold-out of the 5,000 units special units for the Ocean model amid a non-refundable $5,000 reservation.

The EV startup said it has over $850 million of cash and cash equivalents reflecting its “prudent liquidity management and is sufficient to fund the production launch of the Fisker Ocean in November 2022 and for additional vehicle development throughout 2022”.

Written by Cláudio Afonso | | LinkedIn | Twitter