In a strategic move to dominate the global EV market, Fisker Inc. announces the opening of a delivery center in China by 2023, aiming to kickstart deliveries of the Fisker Ocean SUV in Q1 2024.
What’s Happening
Electric vehicle innovator, Fisker Inc. has declared its intentions to open a delivery center in China by 2023. The plan further includes the initiation of deliveries of the much-anticipated Fisker Ocean SUV in the first quarter of 2024.
Why It Matters
The company’s decision to expand into China follows successful deliveries in Europe and an upcoming delivery to US customers slated for June 23. Fisker’s expansion to China signifies an ambitious attempt to solidify its presence in the booming EV market. According to Fisker Chairman and CEO, Henrik Fisker, the Asian nation’s potential as a key growth market for EVs is crucial to the company’s future development and expansion plans.
Key Points
During the company’s annual shareholder meeting on June 6, China board member Daniel Foa articulated Fisker’s potential advantages in the Chinese market. He pointed out that China makes up a third of global vehicle sales, which equated to about 26 million cars in 2022. Of these, electric vehicles accounted for 6-7 million, representing a 25% share. By 2023, the electric vehicles segment grew to 27%.
Foa further highlighted the accelerated growth of the premium and affordable luxury segment, which is outpacing general segments. This trend is favorable for Fisker, given its unique history, features, and design. Fisker’s role as one of the few viable international EV-only companies also offers it a distinct advantage in China’s rapidly electrifying market.
Bottom Line
Fisker Inc.’s impending foray into the Chinese market signifies its strategic positioning in the globally accelerating EV space. The company’s vision, embodied in the Fisker Ocean SUV, aims to deliver a product rich in features and design aesthetics. Powered by a 113 kWh battery pack and a $37,499 starting price for the Fisker Ocean Sport trim level, the electric SUV showcases Fisker’s commitment to sustainable, high-quality vehicles. The venture into China presents a significant opportunity for Fisker to extend its global footprint and impact in the electric vehicle market.
