Fisker Expects to Triple Their EV Production by 2024
Fisker is gearing up to meet customer expectations—by attempting to triple EV production by 2024. Find out how they plan to make it happen.
Written by Jason Crosby
Reviewed by Kathleen Flear
Fisker has been a hot newcomer onto the EV market that looks primed to compete with Tesla and Lucid in the coming years. But alongside other EV producers, Fisker has been struggling to meet consumer demands for its vehicles, the Fisker Ocean being among the most hotly-anticipated.
Fisker hopes that its Canadian supply partner, Magna, will be able to help the company crank up production over the next year. But will Fisker and Magna be able to pull it off?
Whether or not Fisker can triple their EV production efforts is out of your hands—but finding the most affordable
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rates isn’t. Take a look and see if you can whittle down your premiums with our helpful app. Fisker is expecting 150,000 EVs from Magna
These two companies have a bit of a complicated relationship. Fisker is an American car company, partnered with Canadian Magna who’s operating an Austrian facility in order to help Fisker produce its cars that will be sold back in the U.S.
As
Auto News
reports, Fisker is truly counting on Magna in order to get these EVs produced. Their most affordably priced car, the Fisker Ocean, which starts at around $38,000, already has 40,000 reservations. Fisker is hoping that Magna can help them crank out another 110,000 Fisker Oceans by 2024—nearly tripling the amount they’re currently able to produce. So even though Fisker and Magna have a close relationship, one on which the future of Fisker’s success may partially depend on, Magna isn’t exclusively partnered with Fisker. In fact, Magna is partnered with other automakers, too.
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Besides Fisker, who else is Magna working with?
Other than assisting Fisker with their EV production, Magna is working with other luxury car makers as well. Its other partners include BMW, for their 5 Series sedan, and with Mercedes-Benz's, building the G-Class SUV. Despite these other contracts with larger, more established carmakers, Fisker feels confident that they’ll be able to break through into the bullish market.
A Fisker representative was quoted by Auto News as saying “Big carmakers are now working on their second major models, incorporating lessons learned, and many of those will hit the market from 2025. Between now and then, we have a chance to get in.”
But it’s not as though Magna has no skin in the game. The Canadian manufacturing company owns 6% of Fisker, meaning that Fisker being able to meet production demands will be a win-win scenario.
MORE: Everything You Need to Know About BMW Electric Cars
What competitor models will the Fisker Ocean be up against?
According to Auto News, Fisker’s new EV will be duking it out against Volkswagen’s ID.4 and Tesla’s Model Y. Considering that the Fisker Ocean is far more affordable than either of these other brands’ models, this could be an advantage. Fisker’s electric SUV comes in three different trim options—and the most notable difference is the two different battery types between the base and mid/luxury trim options.
The base model Fisker Ocean uses a cheaper lithium-ion-phosphate-based battery, which, although isn’t as high quality as a true lithium ion battery, is more affordable. This alone could help Fisker gain an edge over Volkswagen.
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