Fisker

About Fisker

The current Fisker was founded in 2016. However, the brand name goes back to 2005. It is named after its Danish-American creator, Henrik Fisker. Beginning in 2023 with the Ocean SUV, the business intends to provide a variety of EVs.

After earning his degree in automotive design from the ArtCenter College of Design in Switzerland, Fisker initially worked for BMW, creating prototype vehicles like the renowned BMW Z8 that James Bond drove. After leaving Munich, he worked for Ford and Aston Martin until moving to Southern California in 2005 to create Fisker Coachbuild.

The Fisker Tramonto and Fisker Latigo were high-end coach-built sports vehicles based on Mercedes-Benz and BMW that the original firm produced before it joined with EV startup Quantum Technologies in 2007 to concentrate on developing the high-performance series-hybrid electric sedan, the Fisker Karma.

The Karma combined electric motors and a 20.1 kWh battery with a gas engine that could produce energy, similar to an ultra-high-performance Chevrolet Volt. More than a decade before such PHEVs became mainstream, it boasted a 32-mile pure electric range (still regarded as impressive by modern standards) and 402 system horsepower.

The strikingly designed Karma made its premiere at the 2008 Detroit Auto Show, earning a lot of attention and aiding the business in being eligible for a loan from the U.S. Department of Energy. However, it did not go into production until 2011.

By that point, Tesla had already introduced the competing Model S, which Fisker had assisted in designing during a short stint with the Musk-owned EV startup, and the latter had also seen several difficulties. Fisker’s battery source had issues, which resulted in expensive, time-consuming recalls and a suspension of production. Additionally, hurting supplies was a consignment of automobiles that Hurricane Sandy destroyed.

In 2013, Fisker Automotive filed for Chapter 11 protection; however, Chinese investors later resurrected the company as Karma Automotive and resumed production of the original design as the Karma Revero.

To start with concept cars and shuttle buses, Fisker, Inc. was established in 2016 to produce EVs and autonomous vehicles. After significant investments, including $50 million in funding from Moore Strategic Ventures, the business announced plans for an IPO and the Fisker Ocean crossover as its first production car.

Fisker, Inc., supported by private equity company Apollo Global Management, went public through SPAC in late 2020 in a $2.9B transaction. The Ocean made its premiere at the 2021 Los Angeles Auto Show, and instead of building its plant (Valmet in Finland made the first Fisker Karma), Magna Steyr in Austria will be producing the SUVs. Production of The Ocean, which uses several suppliers of Magna-developed technology, is expected to start in November 2022.

Along with Magna, Fisker has significant cooperation with Foxconn of China, which intends to produce some of its cars in Ohio’s old Lordstown Motors facility.

Fisker intends to sell its cars online and via experience centers rather than through regular dealers, like many other EV companies. The manufacturer has verified that a six-year, 60,000-mile bumper-to-bumper guarantee with roadside assistance and a ten-year, 100,000-mile powertrain and battery component warranty would be provided for the Ocean and other upcoming models.