Fisker Inc. is continuing a trying month of March as it claws at the hole it has found itself in, staring down the barrel of potential bankruptcy. With a potential shuttering of its doors looming, the American EV automaker is now pulling every lever to maximize revenues, including unprecedented discounts on its lone model, the Fisker Ocean.
Fisker Inc. currently operates as the second iteration of an EV automaker by the same name, led by founder and CEO Henrik Fisker, who, unfortunately, has already been through this challenging situation before.
2023 was already a rough year as Fisker had to lower its production targets several times, pivoting toward a strategy with dealer networks to try and boost sales. However, things truly began to slant downward following the American automaker’s Q4 2023 report, which relayed “substantial doubt” it could continue.
At the time, Fisker explained it was seeking assistance from a “large automaker” to continue its progress with the Ocean SUV and the three additional EV models in its pipeline. We quickly learned that the potential savior of an OEM was Nissan.
Earlier this week, we reported that talks with the potential automotive partner had fallen through, and Fisker ($FSR) would be delisted on the New York Stock Exchange (NYSE), sitting at an abysmal $0.0896 at market close on March 25.
With a bailout investor by no means secured and trading halted, Fisker is facing grim times but is doing what it can, even if that means liquidating its existing inventory of Ocean EVs. If all the talk above didn’t scare you off, you can not take advantage of a $24,000 discount on the Fisker Ocean Extreme – its most decked-out model currently available.
Fisker shared details of the cuts to MSRPs of all three trims of the 2023 Ocean SUV in a press release today, catering to US customers only. Here are the reduced prices:
2023 Fisker Ocean Trim
Previous MSRP
New MSRP
Price Difference
Ocean Sport
$38,999
$24,999
-$14,000
Ocean Ultra
$52,999
$34,999
-$18,000
Ocean Extreme
$61,499
$37,499
-$24,000
Fisker said certain Ocean models in its existing inventory also come with as much as $7,000 worth of additional equipment, even with the discounted prices, including 22” wheels, exterior colors, and interior components.
A spokesperson for the company was very clear that today’s announcement is focused solely on the price cuts, and Fisker is not commenting on its business operations or other speculation at the moment. The release did share the following, though:
As Fisker focuses on our vision of A Clean Future for All and delivering the world’s most sustainable vehicles, the company continues to pursue dealer partnerships in North America and Europe, having announced the strategic shift to a Dealer Partner model in January 2024.
Fisker is strategically positioning the all-electric Ocean SUV to be a more affordable and compelling EV choice, competitively available to EV buyers in the broadest possible market, and constantly improving via frequent Over-the-air (OTA) software updates.
The discounted prices for all three trims of the 2023 Fisker Ocean will go into effect on Friday, March 29. What do you think? Are you interested in buying an EV from a seemingly doomed automaker? I mean, it is one hell of a deal!
Electrek’s take
It’s tough to kick a company while it’s down. Godspeed Fisker 2.0.
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Subaru is teasing a new electric hot hatch that will spearhead a new generation of STI. Is it the WRX STI we’ve been waiting for?
Subaru teases new electric hot hatch
In March 2022, fans were disappointed after Subaru announced plans to end production of the gas-powered WRX STI.
Subaru said the move was due to the shift toward electrification and stricter emissions regulations in places like Europe.
Although the Japanese automaker said at the time it was exploring opportunities for a next-gen WRX STI, including an electrified version, Subaru confirmed it will not be produced on the new WRX platform.
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It’s been over three and a half years, but we might finally see the WRX STI return in electric form. After teasing a new electric hot hatch on Wednesday, Subaru said the Performance-E STI concept will spearhead a new generation of vehicles.
The image offers a glimpse of Subaru’s new design with slim, three-line LED lights and a sportier roofline compared to the internal combustion engine (ICE) version that Subaru also previewed.
Subaru teases new Performance-E STI concept ahead of the Japan Mobility Show (Source: Subaru)
Subaru is keeping most details secret for now, but said the new electric hot hatch offers “a design that evokes the brand’s heritage while providing a driver-friendly layout and a comfortable, spacious interior.” It will be equipped with new tech, offering “intuitive, exhilarating driving experiences,” the company said.
Subaru will unveil the new STI concepts at the Japan Mobility Show later this month. Atsushi Osaki, Subaru’s president, will deliver a press conference at the Subaru booth on October 29 at 12:30 PM (JST).
Subaru teases two new STI concepts, an EV and an ICE version (Source: Subaru)
The booth will feature the two new STI models, alongside the Trailseeker, Subaru’s second global EV. It will also showcase more rugged Forester Wilderness and Outback Wilderness prototypes, as well as a 1982 Subaru GL Family Huckster.
Subaru is joining Hyundai, Volkswagen, Kia, and a few other automakers planning to introduce new electric hot hatches.
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Tesla is finally running TV/streaming ads, but they are not to sell electric cars. They are to promote a vote for Tesla shareholders to approve Elon Musk’s next compensation package worth up to $1 trillion.
As a company, under Elon Musk’s leadership, Tesla has famously been against advertising. The CEO is even on the record saying that he “hates advertising” and that “other companies spend money on advertising and manipulating public opinion, Tesla focuses on the product.”
However, that was before he acquired Twitter, now X, which relies heavily on advertising.
The renewed advertising effort was limited to Google and social media ads or sponsored posts, which was also the case in Tesla’s previously mentioned advertising efforts.
Now, Tesla is even running TV-like ads on streaming services. Paramount+ watchers were surprised to see this ad running on the streaming service this week:
This is one of the very first TV-style video ads that Tesla is paying to air, but it is not to sell EVs.
While the automaker is struggling to sell its existing vehicles, the ad exclusively features future products that are not yet available for sale, and it serves only to ask shareholders to vote in accordance with the board’s recommendation at the upcoming shareholders’ meeting.
Electrek’s Take
It’s funny because I was talking to a friend of mine who came back on a long rural road trip with his Cybertruck last week.
He was saying that he was surprised how many people in rural areas not only didn’t know about the Cybertruck, but they didn’t even know much about Tesla. Yet, they were curious about it and electric vehicles in general.
We were discussing how these people are not as active on social media, and that Tesla would greatly benefit from advertising its vehicles in more traditional channels, such as TV/streaming ads, with clear messaging that relates to them, such as the cost of ownership and utility.
I joked that Tesla will do TV ads about Elon’s compensation plan before they do about their EVs. It literally took less than a week for Tesla to prove me right.
There is just no reasonable justification for this. It’s as simple as Elon is bigger than Tesla, a company of 100,000+ people.
You can’t make a viable argument against the fact that this would be money better spent advertising Tesla’s available cars when the company is currently operating its production lines at 60% capacity and the compensation package would be better spent on tens of thousands of full-time employees whose contribution to Tesla is much greater than Elon’s at this point.
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Toyota’s smallest electric vehicle might actually hit the road. Thanks to new funding from the UK government, Toyota is one step closer to turning this pint-sized EV with a solar roof into a reality.
The Toyota FT-Me is a micro EV with a solar roof
It may be only 2.5 meters (98″) long, but Toyota believes the tiny electric car could be an affordable way to zip around the city.
The FT-Me is “a ground breaking concept” that blends premium design with affordability, Toyota said after unveiling it in March.
After securing a £15 million ($20 million) investment from the UK government’s DRIVE35 program, Toyota is moving closer to actually launching the pint-sized EV.
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The Advanced Propulsion Centre UK, which manages the funding, announced that the £30.3 million ($40,500) project includes a £15 million grant from the Department for Business and Trade. Toyota is expected to fund the other roughly £15 million.
Toyota is working with several partners, including urban delivery specialist ELM Mobility and the University of Derby, to develop a new lightweight battery electric vehicle (BEV) in the L6e category.
Toyota FT-Me micro EV (Source: Toyota)
Meanwhile, Savcor will design and develop the solar roof, which Toyota claims can extend a vehicle’s range by 20%, or about 20 to 30 km per day.
The pint-sized EV will be manufactured at Toyota Manufacturing UK’s Burnaston site, where it currently builds the Corolla.
Toyota FT-Me micro EV concept (Source: Toyota)
Although it’s about the size of a golf cart, Toyota promises the micro EV fits two passengers comfortably. The company also claims the FT-Me’s propulsion system uses 3X less energy per km than current high-capacity electric vehicles.
The interior of the Toyota FT-Me EV concept (Source: Toyota)
Inspired by a jet helmet, Toyota said the vehicle’s compact design makes it perfect for getting around the city. It only takes up about half a parking spot.
Toyota’s pint-sized EV could arrive as a potential rival to the Citroen Ami. The Ami starts at £7,695 ($10,000) OTR, offering a WLTP range of up to 46 miles.
Would you buy Toyota’s micro EV for about $10,000? It could be a fun (and efficient) way to zip around town. It’s basically a futuristic electric golf cart with a solar roof. Unfortunately, it likely will never make it to the US with America’s growing love for big trucks and SUVs.
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