market news

USA: Fisker boasts of 31,000 new Ocean EV SUV reservations

Date: February 18, 2022 Sunil Jha Sunil Jha
USA: Fisker boasts of 31,000 new Ocean EV SUV reservations 
Fisker Inc., an American electric vehicle manufacturer based in California, has reportedly announced that the company is right on schedule to jumpstart the production of its Ocean SUV in November, with more than 31,000 reservations for the carmaker's first electric vehicle already piling up.



The reservation numbers were disclosed by the company during its fourth quarter as well as full-year earnings call earlier this week.



The EV firm stated that production of vehicle prototypes has already started at the Fisker Ocean assembly plant, operated by carmaker Magna Steyr’s facility in Graz, Austria. Supposedly, to enable its validation as well as test program for global certification, the factory will soon be able to build two prototypes per day.



For the Fisker Ocean SUV, there are already 1,600 fleet bookings, along with a 200-unit order from ServiceNow, a California-based software provider.



According to the numbers unveiled in the organization's earnings report, Fisker has gained around 6,000 reservations since the beginning of the year. The company reported over $6.3 million in deposits from potential customers by December of 2021. Seeing that Ocean SUV deposits are $250 a piece, the business presumably had over 25,000 bookings at the end of 2021.



According to Fisker, the daily net retail reservation rates this year have surged by over 400% year-to-date than the previous fiscal year and are already on track to reach over 55,000.



As per Henry Fisker, CEO, Fisker Inc., more than 80% of Ocean reservations originated from North America, with the remaining coming from Europe, but the business expects that ratio to shift once the model is launched in Europe.



The Ocean will be introduced at the Mobile World Congress held in Barcelona in the coming week. According to Henrik Fisker, Europe is expected to account for 40% to 50% of total demand.



Most reservation holders, 81%, want to acquire one of the top two trims, priced at $49,999, the Ocean Ultra or the Ocean Extreme/One, priced at $68,999, according to a poll conducted by the firm in December 2021.



Based on over 30,000 reservations, this indicates an initial average selling price of roughly $56,000 with existing reservation having an estimated future gross revenue of around $1.7 billion.



Source credit: https://techcrunch.com/2022/02/16/fisker-touts-31000-reservations-for-its-ocean-suv-as-production-draws-closer/

About the author

View All Posts

Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.