2023 Fisker Ocean on 2040-cars

Auto blog

Troubled Fisker slashes price of leftover 2023 models

Fisker announced a round of drastic price cuts in a bid to offload its inventory of unsold 2023-model-year cars and hoist itself out of dire financial straits. The only model in its range, an electric crossover called Ocean, will cost up to $24,000 less beginning on March 29, 2024. The company offers three Ocean trim levels called Extreme, Ultra, and Sport, respectively. Updated pricing is as follows. 2023 Ocean Extreme: $37,499 ($24,000 less than before) 2023 Ocean Ultra: $34,999 ($18,000 less than before) 2023 Ocean Sport: $24,999 ($14,000 less than before) Note that these figures exclude destination and available incentives. Fisker notes that the price cuts only apply to 2023 models, which could deter some buyers. While these are new cars, and they feature the 2024 version of the company's operating system, some rival brands are already rolling out their 2025 models. To sweeten the deal, Fisker points out that the leftover 2023s are equipped with up to $7,000 in options including 22-inch wheels and extra-cost paint colors. Time will tell whether these massive discounts ($24,000 is about the price of a new Hyundai Kona) will allow the brand to trim down excess inventory. The Ocean's launch has been dotted with problems, including loss of power while driving, and the National Highway Traffic Safety Administration (NHTSA) opened a preliminary probe into the crossover due to four complaints "alleging unintended vehicle movement." Meanwhile, all is not well at Fisker. The company laid off about 15% of its staff earlier in March 2024 and warned that it risks running out of money. It later paused production of the Ocean, which is built in Austria by contract manufacturer Magna, because it's sitting on a global inventory of around 4,700 unsold cars worth over $200 million. Its shares were suspended from the New York Stock Exchange (NYSE) as talks with a major carmaker, widely rumored to be Nissan, fell through. Fisker has reportedly hired advisers for a potential bankruptcy.

Henrik Fisker moves on from designing hybrids to superyachts

Henrik Fisker has announced a number of projects since parting ways with his namesake hybrid automobile brand. Most of them revolve, as you might expect, around four wheels. He even did one with two wheels last year, but now he's branching out into superyachts. The partnership announced between Fisker and Italian shipyard Benetti will see the Danish designer pen a new line of yachts measuring 164 feet long. That's roughly the distance covered by ten Karmas parked end to end. Benetti is designing the essential architecture of the vessels, while Fisker will be responsible for its styling inside and out. His vision is previewed by the simple sketch above, sent to Autoblog by a Benetti representative, who tells us that the complete design will be presented this coming February at the Miami International Boat Show. Details are still to come, but Benetti says the superyachts will include "carbon fiber and other exotic materials, as well as optimized ocean views from all major cabins and use reclaimed wood, integrated solar panels and optional hybrid power." The design will be split across three decks incorporating a "beach club" at the rear, on-board spa, a pool, six guest cabins, accommodation for 11 crew members, and technological advancements including automated controls. The Benetti collaboration is just the latest in many upon which Fisker has embarked lately. His recent work includes the Galpin Rocket, the aborted Aston Martin Thunderbolt, and two new vehicles to be unveiled in Detroit next month. These in addition to noteworthy creations highlighting his portfolio including the BMW Z8, Aston Martin DB9, and, of course, his eponymous luxury hybrid sedan. While naval architecture may be new territory for Fisker, this isn't the first time we've seen an automotive designer dip his toes in the water to design a yacht. McLaren design chief Frank Stephenson, for example, recently revealed his own wooden runabout with electric power, and Ian Callum penned a concept speedboat for Jaguar. The design divisions at BMW, Mercedes-Benz, and Porsche have dabbled in naval architecture as well, and both Bugatti and Aston Martin recently licensed their names to high-end motorboats too. However Fisker's design will be much bigger than most when it hits the open water.

Fisker will borrow $5M from Wanxiang as interim solution

It may seem like a drop in the bucket compared to the approximately $1 billion in liabilities bankrupt automaker Fisker Automotive has against it, but every bit helps. In this case, it's a smidgeon less than $5 billion. That's how much the maker of the Karma extended-range plug-in is getting approved to borrow from its presumed future owner, Wanxiang Group. It's a start. A US bankruptcy court judge said Wanxiang could loan Fisker $4.98 million for interim financing purposes while the China-based company waits to get antitrust clearance from the US government to buy the now-dormant California-based company, Bloomberg News says. Fisker is seeking another $10.5 million in loans via a debtor-in-possession loan. After that, things get real interesting as everyone from the state of Delaware to General Motors to Finland's Valmet Automotive and more than 600 other entities have gotten in line to collect on what's alleged as $985.4 million in debt. Last month, Wanxiang won a bid against Hong Kong-based Hybrid Tech Holdings for Fisker, which hasn't made any Karmas since mid-2012. Wanxiang will pay $149.2 million, including $126.2 million in cash and $8 million in assumed liabilities, for Fisker. The automaker filed for bankruptcy last November and Wanxiang bounced the company back as the The New Fisker this week.