Beginning in July of next year, Fisker will offer the electric SUV for sale in India, with intentions to produce it there.

Fisker to Sell Electric SUV in India Starting July Next Year, Plans to Manufacture Locally

According to the chief executive of the US startup Fisker, sales of its Ocean electric sport-utility vehicle (SUV) will begin in India in July of next year, and the country will eventually begin producing its own automobiles.

Henrik Fisker predicted that sales of electric vehicles will increase in India by 2025–2026 as the firm looks to establish a competitive edge.

“India will eventually become all electrified. We want to be among the first to arrive here, even though it might not be as quickly as in the US, China, or Europe “said Fisker.

Only 1% of India’s around 3 million annual automobile sales are electric cars at the moment, with a lack of suitable charging infrastructure and expensive batteries playing a factor in the sluggish change.

The government is providing businesses with billions of dollars in incentives to produce their EVs and associated parts domestically since it intends to grow this proportion to 30% by 2030.

After failing to get reduced import taxes for its vehicles, Fisker competitor Tesla postponed its debut into India. Similar to Fisker, it sought to import cars to gauge demand before committing to domestic manufacturing.

Fisker acknowledged that importing cars into India is “extremely expensive,” but the business still intends to utilise Ocean to establish its brand, noting that its high price would probably restrict sales.

The Ocean costs about $37,500 (about Rs. 30,41,600) at retail in the United States, but shipping it to India will cost extra due to transportation fees and a 100% import duty. This will make it unaffordable for the majority of purchasers in a market where the car costs $15,000 (roughly Rs. 12,16,600).

In the end, Fisker added, “you have to start making the car here or at least perform the assembly if you want to attain reasonably substantial quantities in India.

The business is considering producing the compact, five-seater PEAR in India, but not until 2026, he added.

“It would be fantastic if we could purchase the vehicle locally in India for less than $20,000 (about Rs. 16,22,700). I believe we will thereafter achieve a particular volume and market share “said he. Select the ideal regional partner. The timeline may be brief.

For the facility to be built in India, Fisker estimated that at least 30,000 to 40,000 automobiles would be needed annually.

He did not explicitly address the amount of investment the business believed it would need, but he did state that it would probably cost $800 million (or around Rs 6,500 crore) to build up a facility in India with a 50,000-car annual production capacity.

Magna International and Fisker have a contract manufacturing deal under which Magna will produce Ocean in its Austrian facility and send it to India. Additionally, it has a contract for Foxconn to construct PEAR.

According to him, the firm is looking for real estate space to build a showroom in New Delhi and meeting with manufacturers of car components to acquire parts for its worldwide manufacturing.

We’re already developing some relationships, he remarked.


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