As Fisker looks to hit its production stride (and annual output target) going into Q4, it’s also preparing for its 2024 model year. Beginning today, Fisker has lowered the price of its top-tier Ocean Extreme trim by $7,500 – but if you’re looking to get any other version of Ocean, best to buy now, as MSRPs are set to see some price increases when the 2024 models go on sale next month.
This has been a crucial year for Fisker Inc. ($FSR), the surname’s second attempt at scaling from EV startup to bonafide global contender. That journey truly began nearly a year ago, when production of Fisker’s flagship model, the Ocean, began at Magna Steyr last November.
Since then, Fisker has had to adjust its output targets twice after early stumbles to build vehicles. The last quarter showed promising headway as the American automaker shared it had built 5,000 Ocean SUVs. The markets responded with optimism, even after the Fisker shared plans to raise additional funds and dilute its investors just days later.
Now on track to begin cranking out 300 Ocean EVs per day, Fisker is looking to entice would be customers to its most-expensive trim by lowering the price quite a bit. However, while current and future Ocean Extreme customers will see a discount, the 2024 model year SUVs will see price hikes beginning in two weeks.
Fisker lowers one Ocean price before raising the rest
Before rolling out its 2024 Ocean models with updated pricing, Fisker is lowering the price of the Extreme trims from $68,999 to $61,499 – savings of $7,500. Those new discounts apply to new customers and those who have already ordered their SUV, even if it has already gone into production. Per company chairman and CEO Henrik Fisker:
It is essential that Fisker responds to competitive realities in the rapidly growing EV market. We want our customers to have greater access to the Ocean and to be able to take advantage of its exciting combination of innovative features, striking design, sustainable materials, and class-leading range.
While the Ocean Extreme will save customers some cash, 2024 trims will see a price increase on November 6, 2023 when Fisker opens up its next order calendar. For example, the Ocean Ultra will be priced at $52,999, up from its current MSRP of $49,999, while the Sport will be sold for $38,999, up from $37,499. Fisker spoke again:
We are very confident in the continued demand for the Ocean and we expect the Sport and Ultra models to be the highest sellers starting in 2024. We expect our overall margins will be unaffected because higher Sport and Ultra pricing, combined with our cost-reduction initiatives and lower input prices, will support the anticipated trajectory of our profits.
Customers can still take advantage of Fisker’s lower Ocean prices until November 5, 2023. Pre-orders still cost just $250 down.
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China’s Contemporary Amperex Technology Co., Limited (CATL) has unveiled its latest battery cell technologies, which charge as quickly as filling up a gas tank while potentially lowering costs without compromise.
CATL has quickly become the world’s largest battery manufacturer by a wide margin. It is one of, if not the biggest, force for advancing electric transportation.
A big part of CATL’s success is due to its advancements in lithium-iron phosphate battery cells, also known as LFP. LFP cells are cheaper than nickel-rich batteries, but they used to have much lower energy density.
The Chinese battery manufacturers managed to close the gap somewhat while maintaining lower costs, resulting in LFP cells becoming popular for entry-level EVs.
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Now, CATL is looking to do the same with sodium-ion batteries.
Like LFP cells, sodium-ion battery cells have the potential to be cheaper than more common Li-ion cells, but they also offer potential for superior performance, particularly in terms of faster charging and longer lifecycles.
CATL has unveiled today Naxtra, its new sodium-ion battery cells, and it claimed some truly impressive specs.
The new cell reportedly achieves an energy density of 175 Wh per kg (385 Wh per lb), on par with the higher-end of LFP battery cells.
The new cells also offer potential for significant safety improvements.
CATL shared several intense stress tests, including drilling into a cell and even cutting it in half without any thermal event:
The next-gen sodium cells could help further lower the cost of electric vehicles without compromising performance, and while increasing safety.
On top of the new Naxtra cell, CATL has also unveiled its next-gen Shenxing LFP battery cells.
Its charge rate is truly impressive. CATL shared several examples of cars charging at around 1,000 kW and maintaining over 500 kW at over 50% state of charge:
The new cell is being described as capable of adding 300 miles (482 km) of range in about 5 minutes – depending on the EV model.
That’s virtually as quick as filling up a tank of gas.
CATL says that the Shenxing will be in 67 electric vehicle models by the end of the year.
New York State has announced an extra $30 million for point-of-sale rebates to lease or buy more than 60 new EV models.
The rebates are available to consumers through New York’s Drive Clean Rebate program, which offers a point-of-sale rebate off the manufacturer’s suggested retail price (MSRP) of an EV at participating car dealerships in New York State.
The rebate is available in all 62 counties, with the highest rebate of $2,000 available for EVs with a greater-than-200-mile range. (For a 40- to 199-mile range, the rebate is $1,000.) The New York State Energy Research and Development Authority (NYSERDA) runs the program.
NYSERDA President and CEO Doreen M. Harris said, “Converting to EVs reduces the total cost of vehicle ownership through lower fuel and vehicle maintenance costs, and NYSERDA is proud to help provide New Yorkers with more purchasing power through these rebates.”
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The Drive Clean Rebate program has issued over 190,000 rebates to consumers since 2017, contributing to the more than 280,000 EVs on the road in New York State.
NYSERDA also boosted its EV charging incentives. Through the Charge Ready NY 2.0 program, the state is boosting the cash available for Level 2 charger installations at apartment buildings, workplaces, and hotels from $2,000 to $3,000 per port. And if the chargers go into disadvantaged communities, that amount jumps to $4,000 per port.
New York has racked up over 17,000 public EV chargers, making it second only to California for charger count. On top of that, there are more than 4,000 semi-public stations tucked into workplaces and multifamily buildings across the state.
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LTL carrier ArcBest Freight (ABF) announced plans to add five new Orange EV electric terminal tractors to its existing ZEV fleet, bringing its total deployment of these battery electric HDEVs to 14 … with even more to come.
LTL stands for “Less than Truck Load,” and basically means that, since whatever you’re shipping won’t take up a full container, you can share the costs of shipping with other customers with goods going the same way. You save a little more money and the shipper makes a little more money, making it a rare win-win scenario in the shipping space. And that’s important, because LTL containers amount to a massive 15% of total US shipping.
ABF has been putting Orange EV yard dogs to work in their LTL traffic terminals since their initial deployment of four trucks in June 2022. The company added five more a few years later, and just purchased five more — further underscoring their confidence in the benefits of transitioning their fleet to electric power.
“The Orange EV terminal trucks meet our operational requirements and expectations for safe, reliable, and affordable service and performance,” explains Matthew Godfrey, ABF Freight president. “We’re committed to responsible environmental management, and our investment in EVs aligns with our continuous efforts to enhance efficiency while maintaining exceptional service standards.”
Over at The Heavy Equipment Podcast, we had a chance to talk to Orange EV founder Kurt Neutgens ahead of last year’s ACT Expo for clean trucking. On the show (embedded, above), Kurt explained how his experience at Ford helped inform his design ideology, and that the Orange EV was designed to be cost competitive with diesel options, even without subsidies.
Give it a listen, then let us know what you think of the big yard dogs in the comments.