While the electric vehicle market in India seems to be catching up with the predicted pace, US startup Fisker said it will start selling the Ocean electric sport-utility vehicle (SUV) in India from July 2023.
The company which is now known for just one mode, Ocean e-SUV also said that it could start manufacturing its car here in India by 2026 or later. However, the exact time life was not shared.
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The company’s CEO Henrik Fisker reportedly said that India will go “full electric” and with this, the company plans are one of the first to be here (India).
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It may be mentioned that as of now, only 1 per cent of the total annual car sales in India are electric vehicles/cars.
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The major reasons behind the slow market are that the cars, as well as their spares, are quite expensive, and there are no sufficient charging stations. While an average car could cost a person as low as Rs 4 lakh, an average electric car would cost more than Rs 10 lakh which for many people still is a luxury.
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While Fiscal retails its cars in other markets for 37,500 dollars or Rs 30.41 lakhs, once the company comes to India, there will be a 100 per cent import tax, and the company’s CEO accepted that this would be “very expensive”.
This may double the price of cars here in India.
However, Fiscal plans to produce its smaller EV, the PEAR in India which would take the cost below the 20,000 dollar mark or around Rs 16.22 lakh.
But, as per the CEO, that would not be until 2026.