Fisker Ocean Reservations Top 30,000 As Production Nears

Fisker is rising up from its financial woes sparked by the old Karma sedan with its all-electric Ocean SUV, which will enter production in November. The company has just released its successful financial results from Q4 2021, along with the announcement that order books are open for its next model, the 2024 PEAR. Prices for the "five passenger urban EV" will start at $29,000, not including taxes and incentives.

Potential customers for the PEAR, which Fisker describes as "revolutionary," have shown great interest in the upcoming EV. Even though the PEAR won't be revealed anytime soon, questions from consumers regarding its development is mainly what motivated Fisker to open reservations so soon. Speaking of development, the company says that the PEAR has just completed its concept phase. Fisker has also hinted at orders from at least one major company, stating that there is "potential for a near-term order from a large commercial customer," and that it is "currently in discussions with potentially large-volume commercial customers." Considering that Fisker calls the PEAR "compact," it would likely serve as a small delivery vehicle, just like Domino's autonomous delivery vehicles from Nuro. As of this writing, Fisker is planning on building the PEAR in Ohio, and expects a yearly production volume of at least 250,000 units.

As for the Ocean SUV, which will be available by the end of the year, reservations have reached well over 30,000 as of February 14, with about 1,600 of those orders coming from commercial buyers. This represents a major increase over Q3 2021's 18,600 orders. Fisker says that the reservation pace so far this year has risen a whopping 400% compared to its 2021 fiscal year, with an annual pace of 55,000 orders. Thanks to the growing number of reservations for the Ocean, Fisker says its main focus for the rest of 2022 will be delivering the new EV to customers once production begins. Based on a survey that Fisker sent to reservation holders last December, most buyers (43% to be exact) will either purchase the flagship Ocean Extreme or the limited-production Ocean One first edition. Meanwhile, 38% plan to buy the Ocean Ultra and 19% are going for the base Ocean Sport. With this information gathered from the survey, Fisker expects these reservations to create a $1.7 billion gross revenue value.

Fisker is also enjoying a rising number of employees, with 396 full-time workers as of February 14, up from about 327 on December 31, 2021. Considering the costly problems that Fisker faced more than a decade ago, the company has finally picked itself back up again to see a world that is more interested in EVs than ever before.

Do you think Fisker will continue to do well after the Ocean launches?

Images: Fisker