EV startup Fisker Inc to set up a production unit in India

California-based Electric Vehicle startup Fisker Inc has announced plans to set up a production unit in India. The company which is led by car designer Henrik Fisker, who is known to design high-end cars like the BMW Z8 and the Aston Martin DB9, is also setting up a global technology centre in Hyderabad.

Fisker entered the EV market with its SUV model, Ocean in 2021. The ocean comes in 2 models, the 402 km range and the 563 km range. The entry-level model costs 28 lakhs and has single motor-driven front wheels. While the premium model has a dual-motor system.

Along with the usual urban SUV exterior look, the interior of the car has something unusual. It is made from recycled materials such as plastic bottles and abandoned fishnets. It has a 17.1-inch infotainment display and this creates a benchmark in the EV market that is focused on a sustainable vehicle industry approach. The company had announced that it would introduce four new models by 2025.

“Indians are extremely tech-savvy. I think, India at one point, nobody knows when, but at one point is going to explode in the adoption of electrification. Of course, the government has a big role in that. But I do think there’s going to be pressure from the general population at one point in time to go electric,” said Henrik Fisker.

The company has added that they want India to be a production hub for their EVs. In the coming years, Fisker has plans to extend its market in China as well. Fisker’s first launch in India is expected in 2024, with the debut model Ocean SUV. Fisker Inc has outsourced its manufacturing to Foxconn for its US, Europe, China and India markets.

This will be a boost to the Indian government’s efforts to make India an EV production hub. A budget of 26,058 crores has been assigned for the government’s Production Linked Incentive plan to boost domestic EV manufacturing.

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