Fisker Inc. intends to launch in India, which could bode well for Australia given that both countries are right-hand-drive markets. Fisker CEO Henrik Fisker revealed that his company could begin manufacturing cars in India within a few years while speaking to Reuters.
“Eventually, India will go completely electric,” Fisker told Reuters. “It may not be as fast as the US, China, or Europe, but we want to be among the first to come in here,” Fisker continued, adding that he expects EVs to become more common in India by 2025-26.
The Fisker Ocean EV SUV is being brought to India by the company. In the United States, the vehicle costs around $37,500. If imported into India, the vehicle will be subject to a 100 percent duty, causing the price to skyrocket. The majority of sales in the Indian market are currently around the $15,000 mark. However, the government expects EV sales to reach 30% market share by 2030, opening up enormous opportunities for companies like Fisker.
In the following stages of its presence in India, Fisker intends to localize assembly and possibly even production. To appeal to a broader audience, the company could also introduce the Fisker Pear five-seater EV. The company also intends to manufacture the vehicle in India by 2026 or later. This could assist the company in reaching the CEO’s ideal price range of around the US $ 20,000.
Magna International has a manufacturing contract with Fisker. The Ocean SUV for India will be manufactured in Austria and shipped to the Indian market. In addition, the company has reached an agreement with Foxconn to manufacture the Pear EV. Fisker is also rumoured to be looking for a showroom space in Delhi to kick off its offline presence in India.
Tesla, the American EV behemoth, had also attempted to enter the Indian EV market and had generated considerable interest. However, due to the country’s high import duties, it did not pursue its India ambitions. Fisker’s entry will thus play a significant role in determining the future of smaller global EV makers who want to set up shop in the country without a production line.
