Fisker halts work on new EV models until it finds more money

After years of buildup, Fisker has finally started building its ambitious electric Ocean SUV in Austria. The company pledged to start production by the end of 2022, so it has met that target with around six weeks to spare.

If you didn’t lock in a pre-order for the EV swiftly, you may still be in for quite a wait before you get your hands on the Ocean. Fisker will ramp up production gradually. It plans to build more than 300 units in the first quarter of 2023, increasing to more than 8,000 the following quarter. For Q3, the aim is to make more than 15,000 units. All told, Fisker expects to assemble around 42,400 units in 2023.

Two of the Ocean trims have sold out in the US for 2023 and the company has received more than 63,000 reservations in total. The limited-edition Ocean One trim, which is based on the high-end Ocean Extreme, required a $5,000 deposit and sold out within 30 days earlier this year. Fisker will crank out 5,000 units of the Ocean One before moving on to other variants.

Examining an Ocean SUV at Fisker's factory.

Peter Reiter Photography

The Ocean Extreme, which starts at $68,999, is capable of traveling 350 miles on a single charge, according to Fisker. The SUV boasts what the company claims is the first digital radar system as a safety feature. The Ocean Extreme has dual-motor, all-wheel-drive with 550 horsepower, which can accelerate the vehicle from 0 to 60 mph in 3.6 seconds. It also includes three driving modes, a 17.1-inch rotating screen you can play games on and a solar roof.

The base-level Ocean Sport is selling for $37,499, while the mid-tier Ocean Ultra will set you back $49,999. The Sport has one 275 hp engine that can take the car from 0 to 60 mph in 6.6 seconds. The dual-motor Ultra has 540 horsepower and a 0 to 60 mph time of 3.9 seconds.

Fisker claims the Ocean is the planet’s “most sustainable vehicle.” The SUV is being assembled in a carbon-neutral factory. The vehicle also includes more than 50 kg (110 pounds) of recycled, biodegradable and overall eco-conscious materials.

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