Irvine, California – Fisker, an electric vehicle startup based in California, has significantly reduced prices on some of its vehicles in a bid to avoid bankruptcy. This move comes after a failed potential deal with another automaker.
The manufacturer has cut the prices of its 2023 Ocean electric SUVs in the U.S., which now come equipped with Fisker’s latest 2024 Ocean OS software version 2.0. The price reductions are substantial across the lineup, with the 2023 Ocean Extreme trim dropping from $61,499 to $37,499, the 2023 Ultra trim now priced at $34,999 down from $52,999, and the 2023 Sport model priced at $24,999, down from $38,999.
Fisker has stated that the discounted prices include up to $7,000 worth of additional options for some of the Ocean vehicles. These new prices are set to take effect on Friday, making the electric SUV more affordable and appealing to a wider range of buyers.
Despite the efforts to make the Ocean SUV more competitive in the EV market, industry analysts remain cautious about Fisker’s financial stability. Some speculate the company may face bankruptcy, as the demand for electric vehicles remains uncertain.
The recent developments at Fisker come shortly after the New York Stock Exchange announced its decision to delist Fisker’s shares due to “abnormally low price levels.” This decision followed the termination of negotiations with an unnamed automaker on March 22, prompting Fisker to explore various strategic alternatives, including potential restructurings and capital market transactions.
If Fisker were to file for bankruptcy, it would mark the second time that CEO Henrik Fisker’s auto startup has faced financial difficulties, with the first being Fisker Automotive in 2013. With the EV market evolving rapidly, the future of Fisker remains uncertain as it navigates its current challenges in the electric vehicle industry.