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Reservations for the Electric Fisker Ocean SUV Reach 50,000, The Company Shares New Details About its Second EV Being Built by Foxconn

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【Summary】Demand remains solid for the first vehicle from EV startup Fisker Inc. The electric automaker announced on Wednesday that customer reservations for the battery-powered Fisker Ocean SUV have reached 50,000. Fisker also shared new details about its second vehicle, the PEAR (“Personal Electric Automotive Revolution”), which will be an advanced urban EV.

Eric Walz    Jun 08, 2022 6:15 AM PT
Reservations for the Electric Fisker Ocean SUV Reach 50,000, The Company Shares New Details About its Second EV Being Built by Foxconn
The fully-electric Fisker Ocean SUV on display at the LA Auto Show on Wed Nov. 17, 2021.

Demand remains solid for the first vehicle from EV startup Fisker Inc. The electric automaker announced on Wednesday that customer reservations for the battery-powered Fisker Ocean SUV have reached 50,000.

Fisker also shared new details about its second vehicle, the Fisker PEAR ("Personal Electric Automotive Revolution"), which will be an advanced urban-type vehicle.

The relatively affordable Ocean SUV is being built by Fisker's contract manufacturing partner Magna Steyr in Graz, Austria. Production is slated to begin in November as planned.

Sport trim priced at $37,499 before incentives, while the Extreme trim level is priced at $68,999 and delivers an estimated range of over 350 miles. Both versions are eligible for the federal EV tax credit of $7,500.

The Fisker PEAR will be fully revealed in the second half of 2023 and enter production at an Ohio factory owned by Fisker's partner Foxconn in 2024. Fisker entered into a MOU with Foxconn in Feb 2021 to build the PEAR.

Foxconn purchased the Ohio factory from electric truck maker Lordstown Motors. The factory was GM's former Lordstown Assembly Plant, which was sold to electric truck startup Lordstown Motors in Nov 2019. 

Foxconn is best known as Apple Inc's manufacturing partner and has assembled hundreds of millions of iPhones in China for the technology giant. But Foxconn is looking to diversify its electronics assembly business, including building electric vehicles for other companies, which are becoming more like "smartphones on wheels". 

Foxconn announced in Oct 2020 that it aims to provide components or services to around 10% of the world's electric vehicles between 2025 and 2027. Foxconn Chairman Liu Young-way also said that the company is in talks with multiple automakers to reach that goal.

Fisker says its collaboration with Foxconn in Ohio is poised to "revolutionize the traditional automotive business model" by introducing Foxconn's efficient manufacturing capabilities to electric vehicle production at scale. The efficient manufacturing can help EV startups like Fisker design and produce a new electric vehicle in as little as two years, which is unpreceded in the auto industry.

Development of the PEAR with Foxconn is well underway, according to Fisker. The Fisker and Foxconn teams are fully engaged and expect to build a minimum of 250,000 Fisker PEAR units a year at the plant after a ramp up period.

Prototype testing of the PEAR is expected to begin at the end of 2022. 

"The impressive number of reservations for the Fisker Ocean proves there's huge interest in our brand and in electric vehicles," CEO Henrik Fisker said. "The over 3,200 reservations already for the Fisker PEAR indicate this revolutionary mobility device, designed for city dwellers, demonstrates customers are ready for Fisker to deliver the 21st century's most innovative vehicle. The Fisker PEAR's cool new features and technologies – and affordable pricing below $29,900 – are designed specifically for the customer of the future."

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New Details of the Fisker PEAR

Fisker says the PEAR will be a sporty crossover and smaller than the Fisker Ocean SUV. It will also have a unique feature that Fisker calls a "Houdini trunk", which is described as an alternative to traditional rear cargo hatches. The PEAR will be targeted at urban dwellers and will offer a new level of storage for its segment.

Fisker shared the first teaser photo of the interior of the PEAR, which is futuristic-looking. 

On the outside, the PEAR's side window area is extremely low and the EV sports a large, wraparound windscreen affording a commanding view when driving, according to Fisker. 

"The PEAR will be a revolutionary electric vehicle that won't fit into any existing segment. The exterior design will feature new lighting technology and a wraparound front windscreen inspired by a glider plane glass canopy, enhancing frontal vision," said Mr. Fisker last month. 

The Fisker PEAR will be built on a new proprietary electric vehicle architecture. The new platform will also underpin two additional models that Fisker will introduce at a later date.

The PEAR will be offered in rear-wheel-drive (single motor) and all-wheel-drive (dual motor) configurations. It will feature four levels of option packages.

The Fisker PEAR will also offer two battery options, with the larger "Hyper Range'' battery pack targeted at over 310 miles. Like the Fisker Ocean, it will feature the Fisker SolarSky panoramic roof that can add up to 1,500 miles of additional range a year just from the sun.

The Fisker PEAR will have an expected base price below $29,900 before incentives. Fisker said it has designed and engineered the vehicle to reduce the number of parts, which will allow for rapid, simplified manufacturing. 

Fisker opened up reservations for the PEAR in February. Interested customers can reserve one for just $250 for the first reservation and $100 for the second reservation. 

Fisker said it will provide even more details about the Fisker PEAR throughout 2022.

At the beginning of May, Fisker teased its third electric vehicle, a high-performance sports car in development that the company calls "Project Ronin". The vehicle will rival high performance electric vehicles including the Tesla Model S Plaid and Roadster, Porsche Taycan, Mercedes-Benz EQS and Lucid Air Sedan and other premium EVs.

California-based Fisker is among a new crop of electric vehicle startups that are aiming to capture some of the success of Tesla, which over the last decade has grown to become the world's most valuable automaker. 

Fisker is billing itself as "the world's first digital car company." The company was founded in 2016 by Henrik Fisker, an automotive industry veteran who is best known for designing iconic luxury cars, including the BMW Z8 and Aston Martin DB9.


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