Fisker Ocean: Billions IPO to finance production of the E-SUV

Billions IPO to finance production of the E-SUV

Fisker plans to produce its E-SUV Ocean launched in January from the end of 2022 - based on the VW platform MEB. The necessary money should come from an IPO.
Fisker, the electric car startup of the Danish vehicle designer Henrik Fisker, showed the E-SUV Ocean in a near-production prototype version at the CES in January. Unlike Fisker Emotion, which was announced in 2016, but has not yet been released, and its solid-state battery that can be recharged within a minute, the manufacturer apparently wants to make the Ocean quick. The electric vehicle is scheduled to go into production at the end of 2022, as Fisker explains in a presentation to potential investors.

Fisker: IPO of a different kind

Fisker wants to use a slightly different kind of IPO to raise the money for production, which, according to Reuters, could raise up to a billion US dollars. To this end, Fisker will merge with Spartan Energy Acquisition Corporation, a company founded by Apollo Global Management. Fisker would automatically be listed on the stock exchange through the merger, and the transaction is expected to close in the fourth quarter. Similarly, Tesla rival Nikola went public a few weeks ago, as Electrive reports.

By the way, Fisker does not want to produce the Ocean with its own infrastructure, but relies on partners from the automotive industry. Fisker is to negotiate with VW about the use of its modular electric car platform MEB. The Ocean prototype shown at the CES is said to have been developed on the basis of the MEB platform. Interestingly, the Audi subsidiary Italdesign was involved in the development of the Fisker Ocean. However, it has not yet been decided whether VW Fisker will allow the use of its platform for large series production.

Fisker plans two more MEB-based electric cars

According to Fisker Today US, should the agreement be in dry clothes, a small series of up to 100 pre-production cars will be built at the end of 2021. Mass production is scheduled to start at the end of 2022. Fisker is said to have already announced to investors that it plans to build two more electric cars on a MEB basis. The aforementioned Fisker Emotion, which is said to have a range of up to 650 kilometres, could in any case go into production in 2023, if rumors on the market show up.

The Fisker Ocean is to be launched in the USA for less than 30,000 US dollars - including the environmental bonus. The electric SUB with its 80-kilowatt-hour battery should be able to drive with a charge between 400 and 480 kilometers far. Thanks to solar cells on the roof, there should be another 1,600 kilometers per year. Whether, when and at what price the Fisker Ocean will appear in this country is unclear.