- The CEO of Fisker revealed the company’s intentions for an India release in an interview
- Fisker’s Ocean EV SUV could be the first to break cover in the region
- While Fisker will import readymade EVs initially, it intends to produce/assemble EVs locally in the future
With the Indian EV market growing rapidly, more vehicle manufacturers are mulling their entry into the region. American EV producer, Fisker Inc, is the latest to join the list. The company’s electric SUV, the Ocean EV could be the first to reach India. Fisker might opt to import pre-made EVs initially while moving to an India-based production/assembly setup which could cut down costs.
Speaking to Reuters, company CEO Henrik Fisker elaborated on the company’s plans for the Indian market. “Ultimately, India will go full electric. It may not go as fast as the US, China or Europe, but we want to be one of the first ones to come in here,” Fisker was quoted as saying by the publication.
In addition to the Ocean electric SUV, Fisker could also bring its smaller electric car, the Pear EV, to India. It’s too early to talk about pricing as the plans to launch vehicles in India are still in their preliminary stages. However, the CEO was confident that it could produce the Pear EV locally in India by 2026. This, the manufacturer believes, could help bring its cost down to $20,000 (under Rs 17 lakhs) in the country.
Meanwhile, the imported version of the Fisker Ocean EV is expected to be beyond the capabilities of most Indian car buyers. Since imported cars are levied a 100% duty, not everybody may be lining up to buy the Ocean EV. While localised assembly and production will get rid of the import duty, it could take a bit of time.
Fisker said the India-bound Ocean EVs will be produced by its manufacturing partner Magna International in Austria and eventually ship it to the country. The automaker is also believed to be considering a location in Delhi to open up its dedicated showroom.
Could Fisker beat Tesla to the Indian market?
With Tesla’s Indian release plans ditched due to the excessive import duties, Fisker may have an opportunity to enter the region before its rival does. With Fisker considering a more practical approach which involves switching to localised production in the future, we think the company has a good chance of outpacing Tesla, at least in India.