Fisker CEO: New electric car with Foxconn will give more value ‘than any gasoline car’

Fisker CEO Henrik Fisker on the Fisker-Foxconn car

Fisker unveiled the production version of its Ocean electric SUV on a pier in its home town of Manhattan Beach, California, on Tuesday night ahead of its debut at the L.A. Auto Show on Wednesday.

The Fisker Ocean was revealed on a pier in Manhattan Beach, California, on Tuesday. (Patrick T. FALLON / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)

The compact SUV is scheduled to be built for Fisker by contract manufacturer Magna at its Graz, Austria, facility starting on Nov. 17, 2022, on a battery-powered platform developed by Magna.

The Fisker Ocean compact SUV will compete with the Tesla Model Y and Ford Mustang Mach-E. (Mario Tama/Getty Images)

The Tesla Model Y and Ford Mustang Mach-E competitor is available for reservations at a starting price of $37,799 before incentives and will be available with up to 536 hp.

Additional details, including estimated range per charge, are expected to be released during the auto show press conference scheduled for 9:15 a.m. PT.

The Fisker Ocean will be offered with a solar panel on the roof to help charge the battery. (PATRICK T. FALLON/AFP via Getty Images)

TickerSecurityLastChangeChange %
FSRFISKER, INC.23.68+2.09+9.68%

Fisker went public through a SPAC merger in October 2020 and has seen its share price increase more than 60% over the past month as part of a broader rise in electric vehicle stocks coinciding with rival Rivian's IPO.

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Along with the Ocean, Fisker is also developing a less expensive vehicle called the PEAR that has not yet been revealed but is planned to be produced for it by Foxconn at the Ohio factory the Taiwanese electronics company has purchased from Lordstown Motors, starting by the end of 2023.

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