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Fisker Ocean becomes sudden Tesla Model 2 killer with new $24,999 price — you still probably shouldn't buy one

Massive price cuts on the Fisker Ocean electric SUV put even the most expensive trims at Tesla Model Y prices. (Image source: Fisker)
Massive price cuts on the Fisker Ocean electric SUV put even the most expensive trims at Tesla Model Y prices. (Image source: Fisker)
Fisker has dropped the price of its entry-level Ocean electric SUV in a last-ditch effort to stay afloat. The Fisker Ocean Sport now costs an incredible $24,999, making it the cheapest electric car in the US. But, you might never be able to get one at that price.

Looking back, there have been many signs pointing Fisker's slow march towards death, with a last-ditch switch in sales tactics, severely lacking software features, and an overall lack of polish on the vehicles it delivered to customers. Additionally, as The LA Times reports, the EV company has cut back 15% of its staff and halted production for six weeks while it looks for a financial saviour.

In what appears to be a move to generate cash flow, Fisker announced massive price cuts across the board for its Ocean electric SUVs, turning what was once a luxury SUV into a competitor for the upcoming Tesla Model 2 with a new $24,999 starting price. The new price cuts apply to the 2023 model year Fisker Ocean Extreme, Ultra, and Sport trims, with the biggest drop coming from the Ocean Extreme, which dropped by $24,000

Fisker Ocean price changes:

  • Fisker Ocean Extreme: from $61,499 down to $37,499
  • Fisker Ocean Ultra: from $52,499 down to $34,999
  • Fisker Ocean Sport: from $38,999 down to $24,999

There is one glaring problem with these price cuts, though, according to a report by Motor1, who spoke to a Fisker dealer, Classic Fisker, for more details. Allegedly, the only Fisker Ocean EV in stock in the US is the Fisker Ocean Extreme, which is itself not available in the base model at all.

"I would caution you and other customers—Sports don’t exist right now. The $25,000 Sports, they’re not even here in the US right now. The Ultras at $35,000, they don’t exist in the US right now."

When you look at this sitting inventory, there are no base Ultras available." –via Motor1

Confusingly, Fisker has this to say about the additional options in the discount announcement:

"Certain Ocean vehicles come equipped with as much as $7,000 worth of additional options – such as colors, 22” wheels, interiors, and other options – included in the discounted price."

Whether those optional extras will end up costing buyers more at the end of the day remains to be seen, it seems, since Fisker's official announcement and the dealer's information are in direct conflict.

While Fisker's announcement positions the Ocean as a compelling alternative to the Tesla Model Y or even the upcoming Tesla Model 2, that seems to be far from the reality of the situation. Given Fisker's current financial situation and the production halt, it seems risky to spend even $24,999 on a base Ocean Sport when they have yet to be produced.

Read about the development of Tesla's EVs in Walter Isaacson's biography of Elon Musk, available on Amazon, or grab a Peak Design car vent phone mount on Amazon.


Motor1 (1, 2), LA Times, Fisker [PDF]

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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2024 03 > Fisker Ocean becomes sudden Tesla Model 2 competitor with new $24,999 price — you still probably shouldn't buy one
Julian van der Merwe, 2024-03-28 (Update: 2024-03-29)