Fisker's Ocean, Setting the Stage for Future Innovations

California-based electric vehicle (EV) manufacturer Fisker Inc's (NYSE: FSR) new all-electric crossover, the Ocean, continues to arrive in the U.S. following regulatory approvals and software bug fixes. The Ocean, manufactured by Magna Steyr in Austria, doesn't qualify for the $7,500 federal tax credit. A special edition called the Ocean One is already sold out. Besides the One, it offers three other trims: Sport, Ultra, and Extreme. 

Fisker's Ocean One and Extreme models are estimated to have a driving range of 360 miles with 20-inch wheels. The Ocean supports DC fast-charging up to 250kW, allowing a charge from 10% to 80% in approximately 35 minutes.

Fisker is introducing the Ocean Ultra with a reduced dual-motor powertrain range of 340 miles. The more basic Ocean Sport model features a single-motor, front-wheel-drive system, providing 250 miles of range. The Sport, being the most affordable variant, is priced at approximately $40,000.

The premium Extreme model includes 20-inch wheels and a 113-kilowatt-hour battery pack. It also introduces four unique driving modes: Earth, Fun, Hyper, and Boost.

The Ocean is pivotal for Fisker Inc as it will lay the foundation for numerous upcoming offerings, especially the notable Alaska pickup.

Fisker Ocean EV Advances to Next Production Phase

May 2023

Fisker is entering the next phase of production for its much-anticipated electric SUV, the Fisker Ocean. This advancement is set to accelerate the global launch of the vehicle as the company aims to meet growing customer demand. 

Fisker has confirmed that the next batch of the Fisker Ocean will start to reach customers across the European and US markets in June 2023.

The Ocean, Fisker's pioneering all-electric SUV, is available in Extreme, Ultra, and Sport models. The limited edition Fisker Ocean One is currently sold out. The Extreme and One boast a confirmed combined WLTP range of up to 707 km/440 UK miles, marking the longest range of any battery electric SUV sold in Europe today. Both models are expected to receive EPA range and regulatory approval and CARB Executive Order later this month.

Fisker has disclosed details about the battery technology that powers its electric vehicles. The larger battery pack, termed the "Hyper Range," uses lithium nickel manganese cobalt (NMC) chemistry. This battery is provided by CATL, a renowned Chinese battery manufacturer. In contrast, the base model of the Fisker Ocean Sport will be equipped with a more affordable lithium iron phosphate (LFP) battery pack, which is also sourced from CATL.

By the end of June, Fisker plans to manufacture between 1,400 and 1,700 vehicles. Following this, the company intends to further augment production during Q3 2023. Altogether, the company is optimistic about meeting its 2023 volume forecast of 32,000 to 36,000 vehicles.

Fisker has also reasserted its commitment to sustainability and green energy. The company recently announced its partnership with Allego B.V., a European leader in electric vehicle charging.

This move aligns with Fisker's commitment to "green charging," a strategy that prioritizes charging networks powered by renewable energy sources. These sources include solar, wind, small-scale hydro, geothermal, ocean movement, hydrogen, and biomass derived from renewable feedstock.

Fisker estimates that green charging could result in a 40% or more reduction in CO2 footprint during an EV's use phase.

In Q1 2023, Fisker Inc. reached several milestones, including the successful launch and delivery of the company's Fisker Ocean One vehicles in Denmark, and Germany. The company also opened customer locations in Vienna and Copenhagen and two showrooms in Munich, with a flagship Lounge slated for opening in Los Angeles later this month. In the pipeline for 2023 are more locations across Europe and the United States. 

An inaugural Investor Product Day event is scheduled for this summer, where Fisker will present new models, contributing to its ambitious goal of producing 1 million vehicles in 2027.