2023 Fisker Ocean on 2040-cars

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Fisker Ocean to be sold in India, Pear could be built there

NEW DELHI (Reuters) - Fisker says it will begin selling its Ocean electric sport-utility vehicle (SUV) in India next July and could begin manufacturing its cars locally within a few years, the company's chief executive officer told Reuters. Sales of electric cars in India will increase by 2025-26, Henrik Fisker said in an interview in New Delhi, adding that the company wants to secure a first-mover advantage. "Ultimately, India will go full electric. It may not go as fast as the U.S., China or Europe, but we want to be one of the first ones to come in here," Fisker said. Electric cars currently make up just 1% of India's roughly 3 million annual car sales, with insufficient charging infrastructure and high battery costs partly to blame for the slow shift. The government, which wants to increase this share to 30% by 2030, is offering companies billions of dollars in incentives to build their EVs and associated parts locally. Tesla put its India entry plans on hold after failing to secure a lower import tariff for its cars. Like Fisker, it first wanted to import vehicles to test the market before committing to local manufacturing. While Fisker admitted it is "very expensive" to import vehicles into India, the company wants to use the Ocean to build its brand, with its premium pricing likely to limit numbers, he said. The Ocean retails at around $37,500 in the United States but importing it to India would add logistics costs and a 100% import tax. That would put it out of reach of most buyers in a market where the bulk of cars sold are priced under $15,000. "Ultimately, if you want to have somewhat of a larger volume in India, you almost have to start building a vehicle here or at least do some assembly," Fisker said. The company's next EV, the smaller Pear pictured in a rendering above, is being considered for production in India but not before 2026, he said. "If we can get that vehicle just below $20,000 locally in India, that would be ideal. Then I think we'll get to a certain volume and market share," he said, adding that if they find the right local partner the timeline could be shorter. To set up a plant in India would require volume of at least 30,000 to 40,000 cars a year, Fisker said. He did not directly comment on the size of investment the company considered necessary, but said that to set up a plant with an annual production capacity of 50,000 cars would likely cost $800 million in India.

Hybrid Technologies LLC increases Fisker bid to $55 million

Will more money equal more Karma? In the continuing fight over the assets of extended-range plug-in vehicle maker Fisker Automotive, a Hong Kong-based investor is ready to up the stakes. Hybrid Tech Holdings has announced it will increase its bid for the maker of the Karma to $55 million. A bankruptcy court judge recently ruled that Hybrid Tech couldn't use any more than $25 million of its Fisker debt for an on-credit bid for Fisker. Hybrid Tech bought Fisker's $193 million line of credit from the US Department of Energy for $25 million. "When other shareholders ceased support, Hybrid continued to provide the financing and working capital necessary to maintain momentum," the company said in a statement. "Hybrid is working to achieve a rapid relaunch of Fisker." AutoblogGreen asked Hybrid spokeswoman Megan Grant for more details, but she said, "The statement distributed ... is the only information I am able to provide at this time." You can read the full statement below. At this point, Hybrid Tech's offer would trump Wanxiang Group's bid of $25.8 million (plus assumed debt) that was issued in late December and then boosted to $35.7 million earlier this month. Fisker favors the Hybrid Tech bid because it believes Wanxiang, which acquired most of the assets of lithium-ion battery maker A123 Systems in 2012, helped speed up Fisker's shut-down by stopping battery deliveries. Fisker filed for bankruptcy in late 2012. The auction for the remains will be held in February. Statement by Hybrid LLC Today, Hybrid Tech Holdings, LLC ("Hybrid"), a Delaware limited liability company, announced that it has modified the terms of its bid for Fisker Automotive Holdings, Inc. ("Fisker"), to reflect a purchase price of US$55 million. Hybrid intends to utilize Fisker's existing plant in Delaware to meet consumer demand and address market conditions. "Hybrid's confidence in Fisker's future is strong and unwavering. The Hybrid group has been an investor in Fisker for many years. When other shareholders ceased support, Hybrid continued to provide the financing and working capital necessary to maintain momentum, as well as taking on the US$25 million risk of purchasing the Department of Energy loan. We did so for a simple reason; we believe deeply in Fisker's technology and we stand by the talent in the company who can bring the promise of this technology to life," said Hybrid spokeswoman Megan Grant.

Fisker Alaska electric pickup is one of the coolest Cybertruck and F-150 Lightning rivals yet

The Fisker Alaska electric pickup truck. Fisker US EV startup Fisker unveiled an electric pickup to take on the Tesla Cybertruck and Rivian R1T.  Fisker says the Alaska will start at $37,900 after incentives and go on sale in early 2025. It offers an ingenious bed that extends from 4.5 feet to 9.2 feet.  EV startup Fisker wants to snag a chunk of America's pickup market from giants like Ford and GM.  The company on Thursday laid out plans for its next batch of products, including a very cool truck called the Alaska. Fisker didn't mention too many details, but we now know a few things about the upcoming truck.  "I think it's very important for us to say that we want to create unique vehicles," company CEO and designer Henrik Fisker said during the event.  The Fisker Alaska electric pickup truck. Fisker Fisker says it'll start at $45,400, or $37,900 after a $7,500 federal tax credit. That should make it one of the most affordable electric trucks in the US when it goes on sale sometime in early 2025.  The F-150 Lightning (a bigger truck, but still) was supposed to start at just under $40,000, but rising materials costs have pushed the entry-level model to $51,990. The Rivian R1T, a bigger, higher-end offering than the Alaska, costs $73,000 and up.  The Fisker Alaska electric pickup truck. Fisker That makes the Alaska look like a mighty compelling deal, if Fisker can keep the price where it is. There's also currently nothing like it. All the electric pickups out right now — the Lightning, GMC Hummer EV, and R1T — are fairly large. The soon-to-be-released Tesla Cybertruck looks like a pretty big boy too.  Fisker revealed three brand-new electric models and a new version of its Ocean SUV during an event in California. Fisker Fisker says the Alaska will fit somewhere between the compact and midsize categories. So think bigger than a Ford Maverick and smaller than a Toyota Tacoma. It could strike a chord with buyers who want an electric truck for casual errands but don't need anything huge.  During Thursday's product-reveal event, Fisker's CEO said the company didn't want to compete with full-size trucks and wanted to build a pickup that works well as a daily driver.  The Fisker Alaska electric pickup truck. Fisker Still, he wanted the Alaska to provide pickup utility when people need it. Thanks to a retractable wall between the cab and bed, the Alaska's 4.5-foot bed can fit items as long as 9.2 feet — if you fold the back seats and drop the tailgate.