2023 Fisker Ocean on 2040-cars

Auto blog

Former Fisker CEO has some advice for Tesla Motors

Former Fisker Automotive CEO and ex-Chevrolet Volt vehicle-line director Tony Posawatz has some words of caution for Tesla Motors. The long-time automaker executive questions the California automaker's long-term viability – and gives some praise – in a talk with Benzinga, which you can listen to below. While the all-wheel-drive D that Tesla unveiled earlier this month in Southern California wowed a packed crowd, Posawatz (starting at around minute 4:45 in the interview) says Tesla would've been better off taking the resources it expended toward that Model S upgrade and directed them towards speeding up the development of a more affordable plug-in. Perhaps a number of investors agreed, since the company's stock fell the day after the D was announced. Posawatz says Tesla has been over-reliant on the sale of ZEV credits. Posawatz also says that Tesla has been over-reliant on the sale of zero-emissions vehicle credits in California for its earnings and questions whether the automaker will ever work at a large enough scale to sufficiently drive down costs and make consistent profits. Tesla CEO Elon Musk would take issue with this characterization. Posawatz first made his mark in the plug-in vehicle world when he was the vehicle-line director at General Motors for the Volt extended-range plug-in from 2006 to 2012. Later that year, he joined extended-range plug-in maker Fisker Automotive as its CEO, though quit that job during the summer of 2013 as the company was descending into insolvency. He joined the Electrification Coalition this past March. News Source: Benzinga Green Chevrolet Fisker Tesla Electric PHEV Tony Posawatz

Fisker Ocean will start at $379 per month under subscription service

As promised, Fisker on Wednesday opened the order books for its forthcoming Ocean battery-electric SUV and announced pricing and other details ahead of its launch in 2022. Also as promised, the eco-luxury ‘ute will come in well below what Volvo is charging under its Care by Volvo subscription program. Fisker will make the Ocean available primarily through a monthly lease that starts at $379 per month through its mobile app, which is now live for iOS and Android platforms. That compares to $700 per month to get into Care by Volvo with the XC40, and mileage limits are twice those of the latter, at 30,000 miles per year, compared to 15,000 for Volvo. That makes good on founder Henrik FiskerÂ’s promises to be cheaper and more generous on mileage than its competitor. However, youÂ’ll need to put down $2,999 to trigger that price level, compared to just $500 to get started under Care by Volvo. And unlike its benchmarked competitor, insurance is not included, though Fisker says it expects customers will be able to access affordable quotes through its mobile app “due to a unique and proprietary low cost of service and maintenance model.” Similar to some other subscription services, the Fisker lease program eschews long-term contracts in favor of giving customers flexibility to return the vehicle any time, even after as little as a month. It also covers maintenance and service, with pickup and return of the vehicle included. Check out AutoblogÂ’s Complete Guide to Car Subscriptions. Fisker says there will be five option packages for the Ocean, available closer to the end of the year, that are designed to reduce the complexity of option configurators. Fisker will also set up what itÂ’s calling “experience centers” in shopping districts and airports where customers will be able to see the vehicles and spec packages. Starting in 2021, customers will also be able to schedule test drives through the mobile app. The company released some new details, including a “California Mode” — presumably a retractable sunroof feature — that will be standard on all trim grades above the base version, four-wheel drive versions with electric motors front and rear, and the promise of a five-star safety rating. Reservations cost $250 and are fully refundable.

Fisker lost track of millions of dollars in customer payments for months

Fisker temporarily lost track of millions of dollars in customer payments as it scaled up deliveries, leading to an internal audit that started in December and took months to complete, TechCrunch has learned. The EV startup was ultimately able to track down a majority of those payments or request new ones from customers whose payment methods had expired. But the disarray, which was described to TechCrunch by three people familiar with the internal payment crisis, took employees and resources away from Fisker’s sales team at a time when the company was attempting to save itself by restructuring its business model. Fisker struggled to keep tabs on these transactions, which included down payments and in some cases, the full price of the vehicles, because of lax internal procedures for keeping track of them, according to the people. In a few cases, it delivered vehicles without collecting any form of payment at all, they said. “Checks were not cashed in a timely manner or just lost altogether,” one of the people told TechCrunch. “We were often scrambling to find checks, credit card receipts and any wired funds a few months after a vehicle was sold.” Alongside the internal audit, outside auditor PwC was asking Fisker for more documentation about its vehicle sales as part of the process of putting together the company's annual financial report, according to two of the people. Fisker was often unable to provide satisfactory documentation, leading to more requests from PwC. “Paperwork being collected wasnÂ’t always being collected in full, or sent to the same places,” another one of the people said. These sources requested anonymity because they were not authorized to talk to the press about internal matters. This internal confusion put the company in a position where it couldnÂ’t accurately say how much revenue it had generated, according to the people, who noted it is one of the reasons Fisker has yet to file its annual financial report for 2023. Tracking down the payments may wind up offering little solace to the startup, which is on the brink of bankruptcy. Fisker has paused production of its only vehicle, the Ocean SUV, after running into trouble meeting internal sales goals and struggling to support customers dealing with a number of quality problems. It has alerted investors that it may not be able to continue operations without a fresh infusion of cash.