Key Points
- Fisker will launch a limited edition of its first electric SUV, the Ocean Extreme Vigyan Edition, in India.
- The SUV will be priced in line with European pricing, but prospective Indian buyers must add import taxes and local logistics, which makes the Ocean likely a naturally limited edition.
- Fisker Chairman and CEO Henrik Fisker said the company planned to grow the brand in India “rapidly over the coming years”.
- The Fisker Extreme Vigyan Edition is named after the company’s India subsidiary, established in Hyderabad in 2020.
- Technical details were not released, but the vehicle likely follows the usual specifications. Called the Fisker Ocean One in the US, a launch edition model of the $68,999 ‘Fisker Ocean Extreme’ runs on a 113 kWh battery pack, allowing for an EPA range of 360 miles on standard 20″ wheels and tires. Deliveries in the USA started last month.
- Fisker also announced plans to come to China, starting with opening a delivery centre this year to hand over the first Fisker Ocean EVs by early 2024.
Several benefits to Fisker entering the Indian market
- Access to a large and growing market. India is the world’s fifth-largest automotive market, and electric vehicle sales are growing rapidly. In 2022, electric vehicle sales in India grew by 200%.
- Opportunity to build a strong brand presence. India is a relatively new market for electric vehicles, and there is an opportunity for Fisker to build a strong brand presence. The company’s limited edition Ocean Extreme Vigyan Edition could help to generate interest and excitement for the brand.
- Potential for government incentives. The Indian government offers a number of incentives for electric vehicle manufacturers, including tax breaks and subsidies. These incentives could help Fisker to reduce the cost of its vehicles and make them more affordable for Indian consumers.
- Potential for partnerships with local companies. Fisker could partner with local companies to manufacture its vehicles in India, which would help to reduce costs and improve the supply chain. This could also help Fisker to better understand the Indian market and meet the needs of local consumers.
Details
Fisker, an electric vehicle manufacturer, is planning to debut in the Indian market with a limited edition of its first electric SUV. The company intends to release 100 units of the Fisker Ocean Extreme Vigyan Edition SUV and aims to start deliveries before the end of the year, pending the successful completion of the homologation process. Fisker expects to complete the homologation process for India by September and commence deliveries in the fourth quarter of 2023.
Pricing
The pricing of the Fisker Ocean Extreme Vigyan Edition in India is expected to align with the European market, where the Fisker Ocean Extreme starts at €69,950 in Germany. However, prospective buyers in India will need to consider additional costs such as import taxes and local logistics, making the Ocean likely a naturally limited edition. Despite this, Fisker’s Chairman and CEO, Henrik Fisker, expressed plans to expand the brand in India rapidly over the coming years.
No technical details yet
While specific technical details of the Fisker Ocean Extreme Vigyan Edition were not released in the given information, it is likely to follow the specifications of the Fisker Ocean One, which is the name used for the US market. The launch edition model of the Fisker Ocean Extreme in the US, priced at $68,999, features a 113 kWh battery pack and achieves an EPA range of 360 miles on standard 20″ wheels and tires. Deliveries of the Fisker Ocean in the USA began the previous month.
Indian market
In addition to the Indian market, Fisker also announced plans to enter the Chinese market. The company intends to open a delivery centre in China this year, with the first Fisker Ocean EVs expected to be handed over to customers by early 2024.
Fisker completed the first Fisker Ocean model in November 2022. However, it was evident at that time that ramping up production to volume levels would take time. The planned production capacity for Fisker by the end of this year is around 19,000 vehicles.
Conclusion
Fisker is preparing to make its debut in the Indian market with a limited edition of its first electric SUV, the Fisker Ocean Extreme Vigyan Edition. The company plans to release 100 units of this model and aims to start deliveries by the end of the year, pending the completion of the homologation process.
The pricing of the vehicle in India will be aligned with the European market, and prospective buyers will need to consider import taxes and local logistics.
Despite the limited edition nature of the initial launch, Fisker has expressed its intentions to grow the brand rapidly in India over the coming years.
Plans
Fisker has also announced plans to enter the Chinese market, with the opening of a delivery centre scheduled for this year and the first Fisker Ocean EVs expected to be delivered to customers in China by early 2024.
Overall, Fisker is working towards expanding its presence in key global markets and aims to increase production capacity to meet the growing demand for its electric vehicles.
