Fisker halts work on new EV models until it finds more cash

After years of construction, Fisker has finally begun production of its ambitious Ocean electric SUV in Austria. The company has promised to begin production by the end of 2022, so it has hit that goal by about six weeks.

If you didn’t lock down an EV pre-order quickly, it could still be quite a while before you get your hands on the Ocean. Fisker will increasing production gradually. It plans to build more than 300 units in the first quarter of 2023, with the number increasing to over 8,000 in the next quarter. For Q3, the goal is to make more than 15,000 units. Overall, Fisker expects to assemble about 42,400 units in 2023.

Two of the Ocean versions are sold out in the US for 2023 and the company has received over 63,000 bookings in total. The limited edition Ocean One, which is based on the high-end Ocean Extreme, required a $5,000 deposit and sold out within 30 days earlier this year. Fisker will produce 5,000 units of the Ocean One before moving on to other variants.

The Ocean Extreme, which starts at $68,999, can go 350 miles on a single charge, according to Fisker. The SUV boasts what the company claims is the first digital radar system as a safety feature. The Ocean Extreme has a twin engine, all-wheel drive with 550 horsepower that can accelerate the vehicle from 0 to 60 mph in 3.6 seconds. It also features three driving modes, a 17.1-inch rotating screen that you can play games on, and a solar roof.

The base Ocean Sport retails for $37,499, while the mid-range Ocean Ultra will set you back $49,999. The Sport has a single 275-hp engine that can propel the car from 0 to 60 mph in 6.6 seconds . The twin-engine Ultra has 540 horsepower and accelerates from 0 to 60 mph in 3.9 seconds.

Fisker claims the Ocean is “the most sustainable vehicle on the planet.” The SUV is assembled in a carbon-neutral factory. The vehicle also includes more than 50 kg (110 pounds) of recycled, biodegradable and overall environmentally friendly materials.