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Fisker Pear electric hatchback teased, promises $29,900 price

Here is our first good look at a new model from Fisker called “Pear.” Yes, that is Pear like the fruit, so itÂ’s apt that the teaser image is mostly shades of green. Explicit details on the Fisker Pear are few, but the company gave us a couple things to chew on. For one, Fisker is promising a base price below $29,900, and this is prior to federal or state EV tax credit incentives. ItÂ’s to be built on a “new proprietary architecture,” so donÂ’t expect it to share much with the big Ocean SUV CEO Henrik Fisker said that the little hatchback will feature “new lighting and a wraparound front windscreen inspired by a glider plane glass canopy.” We can get a small sense of what the car will generally look like from the single teaser image released by Fisker. While the company claims this vehicle wonÂ’t fit into any existing segment, it sure looks like a compact hatchback to us. Though, we suppose, it's also possible it literally looks like a pear. The beefy fenders give it a decidedly sporty flair, and the large wheels and mesh front grille only add to the effect. Its scatter-shot lighting running the length of the front end does indeed look different from anything else out there, and the same can be said for its strangely curved A-pillar. This concept (or whatever it is) is also sporting camera sideview mirrors. If U.S. regulations are changed to allow those, then theyÂ’d be a possibility. Otherwise, Fisker will need to swap those out for some traditional mirrors before production. Fisker has high hopes on the production front, too. It plans to produce the Pear at the now Foxconn-owned factory in Lordstown, Ohio. Once production ramps up, Fisker predicts it will be able to produce a minimum of 250,000 Pears per year, an extremely ambitious goal. Whether demand exists for 250,000 small EVs per year from Fisker is a question we may see answered this decade, as Fisker says the Pear will enter production in Lordstown in 2024. As for the future, Fisker (the man) says the PearÂ’s platform will underpin two additional Fisker (the car) models, but says details will come at a later date. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

EV startups are about to report another quarter of fierce cash burn

U.S. electric-vehicle startups are expected to report another quarter of dwindling cash reserves next week, piling pressure on a group of companies that are struggling to ramp up production and have few options for funding in a turbulent economy. Having gone public with hopes of shaking up the automobile industry, these companies have seen their market valuations evaporate in the past few months as EV demand slows and market leader Tesla Inc cuts prices to stoke orders. Lucid Group kicks off first-quarter earnings for the group on Monday, with the company expected to report a 36% sequential slide in cash reserves, according to Visible Alpha. Rivian Automotive, meanwhile, will likely report on Tuesday that its cash balance fell by 6.8% to $10.78 billion from the preceding quarter, per a Visible Alpha estimate. The Amazon.com Inc-backed firm, whose shares have declined by nearly a quarter this year, is also expected to report a larger loss of $1.75 billion as both deliveries and production fell in the period. It posted a $1.59 billion loss a year ago. Fisker Inc and Nikola, both of which report earnings on Tuesday, are expected to see their cash reserves decline by 5% and 15%, respectively, according to Visible Alpha. "Any company that's losing money with a low valuation is toast and EVs are no exception. I think it is just a slow bleed. Maybe they'll get lucky and some of their technologies maybe bought by bigger players," said Thomas Hayes, chairman of hedge fund Great Hill Capital. A drop in valuations of companies has rendered selling equity for precious cash more ineffective and investors are becoming increasingly unhappy with their stake being diluted as several startups are yet to recognize revenue from operations. British EV startup Arrival SA and Nikola have issued going-concern warnings in the past few months, with the former set to merge with blank-check firm Kensington Capital Acquisition Corp in a bid to raise cash. Lordstown Motors said this week it could be forced to file for bankruptcy due to uncertainty over a funding deal with major shareholder Foxconn. Its earnings in an unscheduled release on Thursday showed Lordstown's cash balance fell 11% sequentially. Some of the companies including Lucid and Rivian have also said they would not provide data on reservation numbers going forward, sparking some concern among investors. It is a "disturbing development," CFRA Research analyst Garrett Nelson said.

The Force will be strong with Fisker in Detroit

Henrik Fisker is going to the Detroit Auto Show to show off two new cars, one of them a two-seat American "super sports car" called The Force 1. We know The Force 1 will have a Fisker-designed carbon fiber body laid over a front-engined American production car, is said to be a daily driver with the precision of a track car and the comfort of a luxury sports car, is priced near $300,000, and no more than 50 units will be produced starting next year. However, Fisker isn't divulging much more than that, including what the donor car is.The sketch shows off a number of Fisker cues like a long nose and short tail, wide body and even wider wheel arches, and large wheels - The Force 1 gets 21-inchers. "Laser blade" taillights will warn those behind, we imagine the sound of an engine said to have among the world's highest naturally aspirated outputs will give everyone else the signal to stay back. Power goes to the rear wheels only, with either a six-speed manual or an automatic with paddle shifters. The coupe is fitted with an active suspension developed by an American race car driver, Fisker saying that the unnamed driver uses the suspension on his race car.Our first guess for a two-seat donor car with an engine sturdy enough for such a tune would have been a Chevrolet Corvette, but the six-speed manual would mean Fisker scrapped the Corvette's standard seven-speed manual. The press conference revealing all secrets will happen on January 12. The release below can tide you over until then.Related Video: HENRIK FISKER DEBUTS NEW AMERICAN SUPER CAR "THE FORCE 1"AT THE 2016 NORTH AMERICAN INTERNATIONAL AUTO SHOW ON JANUARY 12December 10, 2015 - Henrik Fisker, the founder of Henrick Fisker Design, will be taking the wraps off a new sports car, The Force 1, at a press conference at the 2016 North American International Auto Show (NAIAS) on the main show floor on January 12, at 10:05 a.m.This high-performance automobile is an American take on a super sports car featuring powerful, dramatic sculptural exterior styling, Ultra Thin Ventilated (UTV) laser blade tail lamps and a luxurious contemporary interior for two people. The body on the limited edition auto is all carbon fiber sitting on 21" wheels with high performance Pirelli P Zero tires, controlled by a unique new active suspension.Priced just under $300,000, The Force 1 is the only American sports car in this price category.