Fisker Ocean reveal at the 2022 Mobile World Congress
The Fisker Ocean Still Doesn’t Make Any Sense
Industry News

Electric vehicle startup Fisker Automotive is worth $6.3BN despite not having manufactured a single car. The valuation is derived from the stock markets that are betting on a big future for the fledgling company. It is an overinflated valuation, as over-inflated as the average stock market trader’s ego. As with anything in the stock market, what goes up will come down extremely hard. Fisker Automotive is floating along nicely within its own bubble-verse. The company selected the 2022 Mobile World Congress in Barcelona, Spain as a platform to reveal the Fisker Ocean. The presentation was headed by the company’s founder, Henrik Fisker.

The Fisker Ocean was scheduled to be production-ready in 2021. The vehicle will be made in Austria by outsourcing manufacturing to Magna Steyr. Much of the materials used will be recycled. For example, the interior fabric is made from recycled T-Shirts. The company really does want to showcase its sustainability credentials to potential new customers.

The Ocean will have a claimed range of 350 miles, entry-level variants will have 275bhp while performance versions will offer over 500bhp. During the presentation, Fisker revealed a range of model variants, options, and technologies. A solar panel roof is able to provide up to 1500 miles of range per year. In the UK entry-level models will retail from £35K, rising to £60K for top-spec models.

Fisker Ocean MWC 2022 Interior

At the moment Fisker has around 12,000 pre-orders, 700 of those are from the UK. The company aims to build 60,000 vehicles in Europe by 2023 or 2024. The year after Fisker is aiming to build several hundred thousand vehicles per year, according to a 2021 article from Forbes. This is where the absurdity surrounding the Fisker Ocean begins.

For a start-up automotive manufacturer to scale from 0 to 700,000 vehicles over a three-year period is unheard of. It’s taken Tesla 10 years to go from an annual production rate of 22,000 to over 900,000. That’s including delays and over-coming production problems and quality issues. Fisker should not have any issues with product quality because Magna Styer is a known quantity.

Fisker Ocean MWC 2022 Rear aspect

The reveal of the Fisker Ocean at the 2022 Mobile World Congress was designed not only to generate publicity for the vehicle but also act as a reminder to investors and stock market traders. Unsurprisingly the Fisker stock valuation rose 2.18% a day after the Barcelona presentation. That represents a market valuation increase worth hundreds of millions of dollars.

If you have placed a deposit for a Fisker Ocean expect delays of up to two years. That being said, the California based company feels as though it is heading towards a Chapter 11 in 4 years from now.

Fisker Ocean reveal at the 2022 Mobile World Congress
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