With the rapid growth of India’s electric vehicle market, more automakers are eyeing entry into the region. US electric vehicle producer Fisker Inc is the latest to join the list. The company’s electric SUV, the Ocean EV, could be the first to reach India. Fisker could opt to initially import pre-built EVs while moving to an India-based production/assembly setup, which could reduce costs.
Speaking to Reuters, the company’s CEO, Henrik Fisker, explained the company’s plans for the Indian market. “In the end, India will go all-electric. It might not go as fast as in the US, China or Europe, but we want to be one of the first to come here” , Fisker said, as quoted by the publication.
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In addition to the Ocean electric SUV, Fisker could also bring its small electric car, the Pear EV, to India. It is too early to talk about pricing as plans to launch vehicles in India are still in their infancy. However, the CEO was confident that it could produce the Pear EV locally in India by 2026. This, according to the manufacturer, could help reduce its cost to $20,000 (less than Rs 17 lakhs) in the country.
Meanwhile, the imported version of the Fisker Ocean EV is expected to exceed the capabilities of most Indian car buyers. Since imported cars are subject to 100% duty, not everyone may be lining up to buy the Ocean EV. Although localized assembly and production eliminates import duties, it might take a little time.
Fisker said the Ocean electric vehicles for India will be produced by its manufacturing partner Magna International in Austria and eventually shipped to the country. The automaker is also believed to be considering a location in Delhi to open its dedicated showroom.
Could Fisker beat Tesla in the Indian market?
With Tesla’s Indian exit plans scrapped due to excessive import duties, Fisker may have the chance to enter the region ahead of its rival. With Fisker considering a more hands-on approach that involves moving to localized production in the future, we think the company has a good chance of overtaking Tesla, at least in India.
Going through: 91Mobiles