2023 Fisker Ocean on 2040-cars

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Fisker plans lineup of four electric vehicles by 2025

Fisker recently declared it wants to secure the rights to use Volkswagen's MEB platform to underpin an electric crossover named Ocean. Although the deal hasn't been finalized yet, it released a preview image that sheds light on some of the other cars it plans to release. Company founder Henrik Fisker envisions a four-car range by 2025. Introduced as a concept at CES 2020, the Ocean takes the form of a battery-powered soft-roader that's about the same size as the Ford Mustang Mach-E. Although we don't know which platform it will be built on yet, it's expected to enter production in early 2021 and land with a base price in the vicinity of $38,000 before local and federal incentives enter the equation. Fisker announced it will also launch a flexible lease program. Fisker described its second vehicle as "a segment-busting super-sports sedan based on the EMotion concept," and its preview image shows the design study it introduced during CES 2018. There's no word yet on how it will evolve as it makes the transition from a show car to a production car, but Fisker explained it delayed the sedan's introduction until 2022 at the very earliest, in part because the solid-state battery technology it hopes to make available isn't ready for production yet. It also anticipates the Ocean will sell in greater numbers than the EMotion. The California-based company's range will also include a "sports crossover," which looks like a fastback on stilts in the vein of the BMW X4. Shown for the first time, it seemingly receives a much sportier design than the Ocean. Finally, it reaffirmed its plans to enter the burgeoning electric pickup segment, but the truck it plans to catapult into this increasingly crowded ring is hidden under a sheet. Fisker added all of the aforementioned models will be built using "platforms, battery packs, and components" sourced from the world's leading manufacturers and suppliers. They'll all be electric — gasoline-, diesel- and hybrid-powered vehicles aren't part of Fisker's plan. Fisker can talk the talk, there's absolutely no doubt about it, but now it needs to prove it can walk the walk. It's in the process of going public by merging with a blank-check company backed by Apollo Global Management. The deal will give it a $2.9 billion value, and provide it with $1 billion in gross proceeds it will use to make the Ocean a reality. Proceeds from that model will presumably be used to develop and launch production of its other cars.

Why the $142M Fisker sale won't help DOE loan get its $168M back

At the beginning of 2014, it looked like Hybrid Tech Holdings LLC was going to buy the remains of Fisker Automotive for $25 million. Just before that sale was to take place, however, Wanxiang stepped in and an auction was therefore scheduled for the middle of February. After 19 rounds of apparently frantic bidding, Wanxiang drove away the winner with a $149.2-million bid. Despite the massive dollar run-up, the Department of Energy will not be recouping any extra money from its failed loan to Fisker in the Advanced Technology Vehicles Manufacturing Loan Program. Way back in 2010, the DOE made Fisker a loan commitment of $528 million but only ever gave the automaker $192 million before problems were identified and the ATVMP spigot was turned off. The DOE later said it "recouped more than $28 million from the company's accounts," which left $168 million unaccounted for. The DOE thus announced it would hold an auction for the remainder of Fisker's loan obligation, which was decidedly not all of the Fisker remains. That loan sale auction took place in December and was won by Hybrid Tech Holdings for $25 million, which means that the final cost to the DOE was $143 million. The important thing to realize is that the $25 million in cash that made up Hybrid's original bid for the rest of the Fisker assets in the February auction in a Delaware bankruptcy court were the apples to the oranges of the $25 million used to buy the loan obligation in December. Since the DOE did not control - and never wanted to control - the Fisker assets, the DOE didn't get to recoup any more of the $143 million that Fisker owed on the loan despite the higher-than-expected ending price. Clear as mud, right?

Fisker Ronin previewed as electric four-door, four-seater convertible

Fisker plans to expand its range of electric vehicles with a four-door, four-seater convertible called Ronin. The model is being engineered to have "the world's longest range for a production EV," according to the company, and a new digital rendering gives us a better look at it. Published on the official Fisker website, the computer-generated preview image shows a convertible with a futuristic-looking front end that's characterized by a light strip made up of individual LEDs. There's no grille, which isn't surprising for an electric vehicle, but it looks like designers chiseled air intakes into the lower part of the front bumper. McLaren-like dihedral front doors and massive wheels add a touch of drama to the design. We don't know how the rear doors open yet, and Fisker hasn't released images of the Ronin's rear end or interior yet. Earlier in 2022, company founder Henrik Fisker pledged that the Ronin will offer 660 miles of driving range when tested on the WLTP cycle used in Europe. While the convertible's EPA-estimated range will undoubtedly be lower, even a 500-mile range would be an impressive figure. We don't know how Fisker plans to achieve that yet. In terms of specifications, all that's been announced is that the Ronin will offer "extremely high levels of performance" and serve as "a showcase for [Fisker's] internal engineering, powertrain and software capabilities." It's being developed by Magic Works, a United Kingdom-based division tasked with bringing special high-end projects to production. If everything goes according to plan, Fisker will unveil the Ronin as a close-to-production concept in August 2023 and will begin building the model the following year, according to Motor Authority. Pricing will reportedly start under $200,000. In the meantime, the company will continue developing a smaller, far more affordable, and Foxconn-built EV called Pear that's allegedly due out by the end of 2024. Green Fisker Convertible Electric