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Fisker secures $71 million in capital to develop its Ocean EV

Fisker has secured $71 million in funding, though it may be a drop in the ocean when it comes to funding its ambitious goals.

4 months ago
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William Stopford
Journalist

Henrik Fisker’s second crack at a car company has just secured US$50 million (A$71 million) in funding.

Fisker Inc has announced the funding comes from Moore Strategic Ventures, the private investment firm of billionaire Louis M. Bacon. It’ll be used to fund the next phase of engineering work for the Ocean, an all-electric SUV.

In a statement, Fisker confirmed the Ocean’s debut is still set for 2022. The company also announced it’s hired Burkhard Huhnke, former vice president of e-mobility for Volkswagen America, as the company’s new chief technology officer.

The Ocean is set to begin production in 2021, and the company will announce its manufacturing strategy in the third quarter of this year.

The first markets for the Fisker will be the US and Europe, though the company has said an Australian launch is in the cards.

The heart of the Ocean is an 80kWh battery pack which Fisker promises will achieve 400-480km of electric range under US EPA standards. It’ll be available with electric motors front and rear, providing the Ocean with four-wheel drive.

Fisker initially announced a base price of US$29,999 (A$43,000), which included the US government’s electric vehicle tax credit. It’s now advertising a base price of US$37,499 (A$53,752), though that still undercuts the rival Tesla Model Y.

Fisker’s lease price is still going to be US$379 (A$543) per month and leasing packages will be flexible. Lessees can choose how long they keep their Ocean, whether it’s just one month or several years, with no fixed lease terms.

They can also drive more than 48,000km per year. The company is prioritising leasing Oceans over selling them outright and won’t have conventional dealerships.

The company is marketing the Ocean as the world’s most sustainable vehicle. There’s a maritime connection beyond the name, with the Ocean’s carpets made from old fishing nets. Upholstery will be made from recycled clothing and bottles.

The Ocean will also offer a full-length solar roof and the California Mode, which drops all the windows – even the tailgate window – and opens the panoramic sunroof with the touch of a single button.

The company has also started work on an “extreme off-road package” called the Force-E. It’ll add an upgraded suspension, raised ride height, off-road tyres, additional lights and tow hooks in the front bumper and a roof rack with integrated lights, among other upgrades.

There’ll even be a large drinking water tank under the bonnet with a release tap in the lower front bumper, to provide easy access to clean drinking water in rescue situations.

Henrik Fisker has set some ambitious goals for his new company, aiming to produce more than one million vehicles between 2022 and 2027.

Fisker Inc is the second go-around for Henrik Fisker after Fisker Automotive, the manufacturer of the svelte Karma, which went bankrupt. Its tooling and facilities were bought by the Chinese Wanxiang Group and the new company was christened Karma Automotive, after the former Fisker product they’re now manufacturing.


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