2023 Fisker Ocean on 2040-cars

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Fisker-Foxconn EV partnership 'moving faster than expected'

U.S. electric automaker Fisker expects operating expenses to reach between $490 million and $530 million this year, a slight increase in its business outlook for the year that is driven by R&D spending on prototypes for its Ocean SUV, testing and validation of advanced technology, hiring and its "accelerating" partnership with Foxconn. The company, which reported its second-quarter earnings Thursday after market close, raised its business outlook for expectations for key non-GAAP operating expenses and capital expenditures for the full year up from its previous guidance of $450 million to $510 million. The earnings report pointed to R&D spending on prototype activities in 2021 driven by testing and validation on advanced driver assistance systems, powertrain and user interface. The company also noted an increase in spending on in-house costs, such as virtual validation software tools, hiring and virtual and physical testing to account for recently tightened Euro NCAP and IIHS safety regulations. Co-founder, CFO and COO Geeta Gupta Fisker added during an investor call that the company made a strategic decision to develop internal capabilities to test and validate, instead of relying solely on third parties. Co-founder and CEO Henrik Fisker said in an interview Thursday its partnership with Foxconn, which is "moving faster than expected," also is contributing to an increase in spending. "We were really aligned," Fisker said in an interview Thursday. "I mean it's a very unique business deal because we are both investing into this program; it's not like we just hired Foxconn to make a car." Fisker has two vehicle programs in the works. Its first electric vehicle, the Fisker Ocean SUV, will be assembled by automotive contract manufacturer Magna Steyr in Europe. The start of production is still on track to begin in November 2022, the company reiterated Thursday. Deliveries will begin in Europe and the United States in late 2022, with a plan to reach production capacity of more than 5,000 vehicles per month during 2023. Deliveries to customers in China are also expected to begin in 2023. Fisker Ocean at the track View 6 Photos In May, Fisker signed an agreement with Foxconn, the Taiwanese company that assembles iPhones, to co-develop and manufacture a new electric vehicle.

Fisker Ocean enters production this week without some ADAS features

At the beginning of the year, Henrik Fisker said his eponymous company anticipated the Ocean battery-electric crossover entering production in November, first deliveries happening in early 2023. In the latest update during the Q3 earnings call with analysts, Fisker said everything is on track, the Ocean expected to start rolling down the production line at Magna Steyr's facility in Graz, Austria on November 17. If that happens, then dealers would be handing over the first sets of keys to retail customers next February. Hitting the milestones might be a bigger pick-me-up for Fisker than the customers, showing the longtime design executive may finally have the right team in place to become a successful auto executive. There will be some hiccups, however. Automotive News reports the first Oceans will be delivered without some software features because Fisker doesn't want to delay production while the coding is sorted. Most of the omissions are from Fisker Intelligent Pilot, the advanced driver assistance suite. Affected units will not have automatic high beams, blind-spot monitoring, and lane-keep assistance, which the company hopes to add with an over-the-air update early next year. Based on the production timeline, that could mean only the Fisker Ocean One, limited to 5,000 units and built into Q2 of next year, will be affected. Lane centering and traffic-jam assist are anticipated to come at the end of 2023. Cruise control is another casualty, unavailable until later next year. Fisker told Autonews he believes "There's also, quite frankly, a lot of customers that may not care about it, so why wait to launch the vehicle? And you know you're going to maybe get it three months, six months, nine months later." Based on the analyst call, Fisker Automotive is prepping for the trials of homologation in Europe and the U.S., and wants to do as much as possible at once instead of doing piecemeal software certifications. Delivering vehicles without certain software-enabled features that will be added later shouldn't surprise anyone. Volkswagen did the same with the ID.3 launch. Meanwhile, the chip shortage convinced legacy OEMs to sell cars without features that couldn't be added later.   Fisker's production ramp-up for 2023 intends for Magna to build more than 300 units in Q1, more than 8,000 units in Q2, more than 15,000 units in Q3, and at least 19,100 units in Q4, making a total of 42,400 Oceans. As mentioned, the first 5,000 will be the Ocean One.

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.