Tesla rival Fisker is gearing up to foray into India with its Ocean model and the company’s USP is that it would offer solid-state batteries that would come in smaller battery packs, implying higher range and safety as well.
This type of batteries is among the safest today for electric vehicles (EVs) and would minimise any chances of fire or explosion.
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| The Ocean EV of Fisker will be sold in India a few years from now -- Photo source: Fisker. |
US-based Fisker is planning to sell its Ocean electric SUV in the country in just a few years from now.
Fisker is bringing in its electric car into India to test waters, and only after it sees a good response will it plan to ramp up its EV presence here.
As it plans to begin manufacturing its cars locally within a few years, it would aim to keep the cost of its EVs low.
“Ultimately, India is set to become fully electric. It may not be as fast as the US, Europe or China, but still it would be one of the fastest to get there,” said Fisker chief executive officer (CEO).
The company seems to be eyeing to get there (India’s EV space) as early as possible. However, initially, it would be importing its cars to India.
Earlier, Tesla had scrapped its India EV plan after the central government didn’t lower import tariffs for its cars.
The Ocean is priced around $37,500 in the US and importing it to India would be more than double that price owing to logistics costs and 100 per cent import tax.
This would prompt prospective buyers to shy away from the Ocean EV, at least in the short-to-medium.
Right now, the electric vehicle market in India is still in its nascent stage with just about 1 per cent of the over 3 million vehicles sold being EVs.
And, the government is promoting EVs and hybrids on a war footing. It expects the share of EVs to go up to 30 per cent by the year 2030.
Fisker was itself of the opinion that its EV will be very costly if imported and this could limit the number of buyers. So, it has to get into production in India fast.
The CEO added, “If you want to sell something in large quantities in India, you will have to make it in India or at least have an assembly set up.”
He revealed that Fisker’s next EV, a smaller one compared to the Ocean, may be produced from India. However, that could happen around 2027 or later.
“If we can offer that vehicle for below $20,000 in India, it would be ideal. I think we could get into the volume game and have a certain market share,” he said.
Fisker has already inked a manufacturing pact with Magna International and would make the Ocean EV in Australia. From Australia, it would be shipped to India.
It has an agreement with Apple’s iPhone maker Foxconn to manufacture the Pear (Fisker’s affordable electric vehicle). The company is looking to buy showroom space in or around Delhi.
If Fisker comes to India with the Ocean and Pear, offering battery safety, higher range, commendable car safety and great performance, many premium car buyers could actually flock for its electric vehicles, provided the prices are smart.
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