Home » The Fisker Ocean EV Just Got A Humongous Price Drop Of Up To $24,000, Now Starts At Just $25,000

The Fisker Ocean EV Just Got A Humongous Price Drop Of Up To $24,000, Now Starts At Just $25,000

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The EV startup Fisker has been going through some challenges over the past few months, and, to make some quick cash to combat some of those challenges, the company is offering discounts — monumentally huge discounts. Like, discounts bigger than the cost of some economy cars.

Also in today’s The Morning Dump: The fallout is yet to settle from the Baltimore bridge disaster, with multiple casualties resulting from the collapse. The loss of the critical span and disruption to port infrastructure is already causing a ripple effect for other industries.

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There’s a story about an alleged street-racing police officer, and there’s news about a Chinese automaker saying it’ll soon start shipping EVs with solid-state batteries. Plus, Sebastian Vettel has gotten back behind the wheel.

The Fisker Ocean Now Costs $25,000, Top-Model Costs $24,000 Less

We’ve talked a lot about EV startup Fisker these past few weeks. We’ve talked about its stock price dropping to a point that it put the company at risk of being suspended from the New York Stock Exchange (this has since happened), we’ve written about how the company was maybe going to run out of money if it didn’t get help, we’ve mentioned YouTuber Marquees Brownlee’s video calling the company’s sole model, the Ocean, the “worst car he’s ever reviewed.” This was followed by news that maybe the company was getting a $150 million lifeline, but that was contingent, it seems, on closing a deal with a large automaker (widely believed to be Nissan) — a deal that seems to have not gone through. Then Consumer Reports reviewed the car and called it “nauseating,” and we could go on and on.

Then yesterday — a story in which we quoted the chairman of the hedge fund Great Hill Capital, who according to Automotive News said bankruptcy was “inevitable” — we heard Fisker’s response to some of this news, and per Automotive News, that response included: “We do not currently have sufficient cash reserves or financing sources sufficient to satisfy all amounts due under the 2026 Notes or the 2025 Notes, and as a result, such events could have a material adverse effect on our business, results of operations and financial condition.”

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There’s not a whole lot of good news, there, though I drove the Fisker Ocean and thought it was good. So did Doug DeMuro, apparently. This is why I think these discounted Oceans are such a smoking hot deal. Bloomberg outlines the price cut, writing:

Fisker Inc. dramatically reduced the price of the Ocean sport utility vehicle — its only model — as the electric-car maker struggles to stay in business.

The biggest cut the US company is making applies to the top-end version of the Ocean, called Extreme. Fisker will slash the price by $24,000 — a 39% discount — to $37,499, according to an emailed statement.

Other iterations of the vehicle also will be much cheaper, a move Fisker said was designed to position the Ocean as “a more affordable and compelling EV choice.”

A $24,000 discount on the Extreme! That’s the one I drove and liked quite a bit! For $37,499 it seems like a steal. And you know what else seems like a steal? The base model “Sport,” which now costs only $24,999 thanks to a $14,000 price cut!

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Of course, as good as the car is for that kind of money, the biggest concern a buyer might have is support. Especially with software still needing work, there’s a risk that one might buy an Ocean and basically end up with a car that never feels complete, with no software updates or service easily available.

Still, that’s a hell of a discount.

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[This first story written by David Tracy. All others by Lewin Day].

Automakers Redirecting Shipments Due To Baltimore Bridge Collapse

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FBI personnel have been deployed to the incident command post. Credit: FBI

As previously covered by The Autopian, the Francis Scott Key bridge was destroyed when it was struck by the Singapore-flagged container ship Dali in Baltimore earlier this week. As per the LA Times, authorities have stated six individuals are now sadly presumed dead due to the temperature of the water and the length of time since the bridge collapse.

The loss of the span combined with the disruption to port activity has some automakers rushing to adjust their logistics. The Detroit Free Press notes that both parts and whole cars commonly pass through the busy Port of Baltimore:

The early morning news Tuesday of the collapse of the Francis Scott Key Bridge in Baltimore sent the auto industry scrambling to mitigate any disruption to business.

The 1.6-mile bridge spans the Patapsco River, which leads to the Port of Baltimore, a major hub for East Coast shipping. About 750,000 to 850,000 new vehicles go in and out of the port each year on haulers carrying about 1,000 cars each, auto industry experts said. Some parts, used in vehicle assembly, also pass through the port or across the bridge.

So far this month, Mazda had the most imports through Baltimore by dollar value, followed by Mercedes-Benz, Subaru, Mitsubishi and Volkswagen, according to data compiled by Bloomberg.

It’s not just imports that are affected, either. Domestic automakers in particular use the port to export vehicles to the European market. General Motors, Ford, and Stellantis have already stated they’re working on alternative shipping arrangements in the wake of the disaster. Cars could instead ship out of ports in New Jersey, Virginia, or South Carolina, Sam Fiorani of AutoForecast Solutions told the Detroit Free Press.

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The remains of the bridge will have to be carefully removed from the channel before shipping can resume regular operations. Credit: FBI

It’s possible that delays to parts shipments could impact further production at auto factories, too. The loss of the bridge isn’t just impacting the shipping channel, either. Trucks that would visit the port will now have to reroute through tunnels instead, lengthening travel times significantly.

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The cause of the crash is still the subject of investigation. Whether mechanical failure or human error was the cause of the problem will become apparent in due course.

As an aside, The Lever noted that the shipping company Maersk was apparently cited months ago for a policy instructing workers to report problems internally before speaking to the Coast Guard. A bad look, but not necessarily a smoking gun. It’s worth noting that while the ship was operating for Maersk, the Dali was actually being operated for the shipping giant under charter. It was directly operated by charter company Synergy Group.

For now, it’s too early to know just how long operations at the port will be disrupted. There is a huge amount of debris to be recovered and cleaned up before normal operations can resume.

Chinese Automaker Claims First EV With Mass-Produced Solid-State Battery

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Automakers across the world are rushing to get solid-state batteries to production-ready status. As per CarNewsChina, IM Motors may be gearing up to beat everybody to the punch in May:

IM Motors claim that the L6, due to launch in May, will come with the industry’s first mass-produced ultra-fast charging solid state battery. More details will be announced at the IM L6 Technology Conference on April 8 but we already know that the new battery will be 130 kWh.

Solid-state batteries have long promised to change the game for EVs. They’re supposed to offer far higher energy density than traditional lithium-ion batteries. This would enable automakers to build EVs with far longer ranges. Less temperature sensitivity and lower flammability could enable faster charging, too.

So what of the L6? Well, a 130 kWh battery is pretty large for a sedan, but not outrageously so. How does it do on range? 497 miles on the WLTP test cycle. Not bad at all.

IM announced at the Geneva Motor Show that the L6 equipped with the solid state battery would have a CLTC range of 1000 km (CLTC) or under WLTP, 800 km. However, MIIT listings which are the precursor for a car going on sale do not feature a solid state battery. Instead the car comes with a choice 90 or 100 kWh ternary lithium (NCM) battery packs from CATL. The smaller pack gives the rear wheel drive version a 720 km CLTC range and the all-wheel drive 700 km whereas the 100 kWh battery gives 770 km and 750 km respectively.

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Does it look revolutionary to you?

Of course, it hasn’t shipped yet, so let’s wait and see if IM can deliver. Plus, without more specifics, it’s hard to know how big a deal this is. IM Motors may have stopped at building a 130 kWh battery, choosing weight savings over stuffing in as many batteries as possible. That could make the L6 very compelling indeed. Alternatively, the energy density of these first-gen solid-state cells may only be an incremental improvement over existing cells. Other automakers will be paying close attention, regardless.

Oh, and if you haven’t heard of IM Motors? It’s a joint venture between SAIC Motor, Alibaba Group, and Zhangjiang Hi-Tech. Basically, there’s a ton of money and some significant automotive experience behind the brand, even if its first model only hit the market in 2022.

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Texas Deputy Constable Arrested While Allegedly Street Racing—In Uniform

Deputy Constable Was In Uniform When Sheriff's Deputies Arrested Him For Highway Racing, Hcso Says 0 52 Screenshot
Credit: ABC13 Houston via YouTube Screenshot

Normally, you’d expect police officers to be out on the roads trying to spot and deter street racing. One Harris County officer was allegedly keen to get involved on a more direct level, however, as per ABC13:

Uniformed law enforcement officers typically rush to an emergency or, in extreme situations, go after a fleeing suspect when they surpass 100 mph behind the wheel.

However, a Harris County Precinct 4 deputy constable, allegedly dressed for duty, was caught at those speeds over the weekend, doing neither. Instead, his Harris County Sheriff’s Office colleagues said he was part of a parking lot takeover that turned into a freeway race at dangerous speeds.

The officer is said to have been an attendee at an event that started as a perfectly innocent car meet-up. Promoted on Instagram by a group called Private Kings Club in partnership with Northside Movement and several sponsors, the meet was held at a parking lot on Old Humble Road, Humble.

Despite initial reports the event was a takeover, the “Park and Chill” event was perfectly legal and held with the permission of property owners. As ABC13 writes, attendeeds were told to avoid burnouts and donuts and “respect the property.” And yet, despite these clear instructions, the news site reports, a freeway race broke out in the vicinity anyway.

Leaving the event, the officer was allegedly spotted by police entering a freeway in a late-model black Ford Mustang. Reports state a Camaro and the officer’s Mustang were then spotted “pacing next to each other” before accelerating hard and exceeding 100 mph on the public road.

Hilariously, the officer was identified quite easily by the fact he was wearing his work uniform at the time.

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In total, police allege four cars were spotted racing, with five arrests made by Harris County law enforcement, including the officer. The young officer was jailed and later bailed out on a $100 bond. His command was notified of the matter, according to the Harris County Sheriff’s Office.

Sounds like some Brian O’Conner stuff.

Vettel Is Back On Track, Baby

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Sebastian Vettel retired from Formula 1 one year before Aston Martin started really contending at the front of the pack. The German driver hasn’t expressed too many regrets, however, and has been getting his thrills elsewhere. This week, it was behind the wheel of a Porsche 963.

Vettel completed over 118 laps in two double stints at the Motorland Aragón circuit in Spain. The test covered 361 miles (581 km), and was Vettel’s first time behind the wheel of a hybrid LMDh prototype. Other than Vettel, seven Porsche works drivers are also attending the Spanish test. Matt Campbell, Michael Christensen, and Frédéric Makowiecki are sharing the number 5 car, while Kévin Estre, André Lotterer and Laurens Vanthoor are in the number 6. All of these drivers are much faster than me around a kart track, I’m sure of it.

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The Porsche Penske Motorsport Team will campaign the Porsche 963 at Le Mans this year. The team is aiming to take Porsche’s 20th overall victory, having already won the 24 Hours of Daytona and the first North American IMSA race this year.

No word yet on whether Vettel could join Porsche for Le Mans or any other sportscar races, but we’d love to see it come together.

What I’m Listening To While Doing TMD

Language warning!

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I’ve got friends over this week, and we’re reminiscing about some of the more colorful characters we partied with over the years. I wrote this one for them.

Fun fact: most people agree that Australian KFC is superior to the modern American product.

The Big Question

What’s the most fun you’ve ever had in a car?

Image credits: Top shot Josh Hild via Unsplash License, ABC13 via Youtube screenshot, FBI, IM Motors, Porsche  

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Defenestrator
Defenestrator
19 days ago

They don’t seem to be available in Colorado, but if they were the lease loophole combined with the state tax credit would drop that $25K to $10K. I don’t need or want an SUV, but $10K is a hell of a price if they get the software even mostly sorted before collapse.

Torque
Torque
22 days ago

This Henrik Fisker guy when he has the final say with his designed vehicles creates products that while I certain looked good on a page, IRL just are Not practical.
The Fisker Karma for example would have been super awesome as a hot wheels car for a 7 year old, as a real car intended to have the ability to hold 4 people who could actually get in & out of the damn thing and use it daily? Forget about it.
His latest attempts with the Fiaker Ocean? While it may look like a cool custom ride straight from the factory… I would expect there to be a very small minority of people that would want to put up with trying to see /use the tiny gun slit of a windshield and side + back glass.
I guess this is a lo g winded way of saying it seems constraints that Austin Martin and BMW must have put on Henrik as well as collaboration with the rest of the design team at both brands where he previously worked went a LONG way towards making some astetically beautiful and yet every day usable vehicles

Kyree
Kyree
22 days ago
Reply to  Torque

I doubt the Ocean is much worse than, say, the GMC Terrain.

The Ocean seems perfectly agreeable on paper, unlike the Karma, was just stupid. (And remember that when the Model S and Karma were both announced, Tesla looked like the underdog!). I really do think that the issue with the Ocean is one of economics; it’s super expensive to launch a new brand. Plus, the Ocean finds itself in the same territory as EVs from established automakers, which makes it a difficult proposition.

Torque
Torque
22 days ago
Reply to  Kyree

For the ocean I think it is the side glass between the C & D pillars and the true letter box like back window that really pushes it over the edge for me from an external design perspective.

There is nothing about it that I can think of which makes it any better than the competing ev 2 row ‘suv/crossovers’ either.

+ Fisker of course brank spanking new startup so even if they were to somehow survive; for example being brought back after they go through bankruptcy or get a billion dollar buyout… any service/support is a complete unknown And they wanted to charge a premium for this above the competition as well!?! GTFO of here Fisker go home you’re drunk

Another (likely) failed auto startup again proving how incredibly capital intensive and difficult it is to become an auto company

Bearddevil
Bearddevil
22 days ago

Maybe someone’s already mooted this, but what happens if you’re leasing a car, and midway through the lease period, the car company ceases to exist? Assuming you’re leasing directly from Fisker, and not a subsidiary leasing company that hasn’t gone belly-up, of course.

WasGTIthenGTOthenNOVAthenGTIthenA4nowS5
WasGTIthenGTOthenNOVAthenGTIthenA4nowS5
22 days ago
Reply to  Bearddevil

I doubt Fisker has their own bank to lease from. The bank owns the car, not the automaker. My Audi for example, is leased through VW’s bank. Chevy’s go through GM’s bank. Rivian just started leasing the R1T/S and I have no idea what bank they go through. That’s why you typically don’t see leases available from startups.

Vetatur Fumare
Vetatur Fumare
22 days ago

Big Question: I’m gonna limit myself to driving-related matters.

After weeks of wheedling, I finally got to borrow my friend Xaris’ grandmother’s Subaru M70 one fine morning in Corfu. I had been working seven-day weeks at a hostel but I had five hours in a hilarious little car to finally go exploring. Found a cache of abandoned, late-seventies Daihatsu Hijets.

Ultradrive
Ultradrive
23 days ago

I think the best thing to do at this point with all of the unsold Oceans would be to dismantle them and stockpile the parts for those that are already on the road.

I tell you what though, when (not if) Fisker goes bankrupt, and the receiver starts to really fire-sale the remaining cars, it might make for a pretty good car to buy through my company to reap the magical benefits of depreciation write-offs and eventual asset disposal. Maybe I’ll take my own advice above and buy two, one to drive and one to pillage.

The insurance thing does worry me a bit, although maybe the premium will end up being lower since the insurance company will probably have to only pay out a ham sandwich if it gets totaled.

Ultradrive
Ultradrive
23 days ago
Reply to  Ultradrive

Where’s that Picard facepalm meme when you really need it?

https://techcrunch.com/2024/03/27/fisker-misplaced-payments-internal-audit-bankruptcy/

Dangerous_Daveo
Dangerous_Daveo
23 days ago

Most fun, slightly damp road, in my M3. Just lowered the grip enough but with the traction still on heaps safe. Just moving about enough to feel something, and manage it, honestly so good.

Otherwise, any time in anything on a skidpan.

PajeroPilot
PajeroPilot
23 days ago

“King of Pissheads” was undoubtedly the highlight of this Morning Dump.

Rob Rex
Rob Rex
23 days ago
Stef Schrader
Stef Schrader
23 days ago

Bold move thinking I get to have fun. I like jumping cars, though. Mash pedal, FLY. I need to do more of that.

I’m late to reading the Morning Dump today. This song reminds me how much I need to watch Bathurst in person some year.

Anyway, good timing. Time to check out a new brewery.

Last edited 23 days ago by Stef Schrader
Beached Wail
Beached Wail
23 days ago

It seems like the current (heh) marketing slogan for solid-state battery manufacturers must be something like “Powering Flying Cars Since Two Years From Now!”

Col Lingus
Col Lingus
23 days ago

Most fun ever in a car you ask?
Not sure this site is ready for that.

No to Fisker. I don’t see them surviving, as such it seems dumb to buy a vehicle that will probably have no parts or repair support in a short while from now. Sorry Fisker.

Angel "the Cobra" Martin
Angel "the Cobra" Martin
23 days ago

Hmmm, I just went on to the Fisker site and the prices do not reflect any kid of savings.

Bearddevil
Bearddevil
22 days ago

I read another article elsewhere saying that the price cuts aren’t to take effect until April.

Mark Tucker
Mark Tucker
23 days ago

If anyone’s answer to the Big Question actually involves driving, I kinda feel sorry for them.

Mechjaz
Mechjaz
23 days ago
Reply to  Mark Tucker

It can be two things!

Hey, I never said all my decisions were good ones.

Col Lingus
Col Lingus
23 days ago
Reply to  Mark Tucker

What about wild teenage sex?

Manwich Sandwich
Manwich Sandwich
23 days ago

Regarding Fisker… I couldn’t find any evidence of similar deals in Canada. All I could find was one 2023 Ocean and they want CAD$95,000 for it
https://www.autotrader.ca/a/fisker/ocean/richmond%20hill/ontario/5_61191678_20180831132610622/

Regarding IM Motors and their solid state battery claims… I’ll believe the claims when I see it confirmed under EPA testing.

Regarding the Texas police officer… I suspect this is also the reason why motorcycle sideshows and takeovers are able to happen repeatedly… some of the people in the gangs are police officers and are privy to inside info. That clearly was the case a few years ago with the Hollywood Stuntz assault
https://en.wikipedia.org/wiki/Hollywood_Stuntz_gang_assault

“What’s the most fun you’ve ever had in a car?”

In my younger years when I used to have sex with my GF of the time in my car.
EDIT… and of those times, the BEST time was at a drive-in movie theatre. Near the end of the first movie, a thunderstorm came in. So during the intermission and during the storm, we were having a GREAT time… LOL

Last edited 23 days ago by Manwich Sandwich
Handlebar
Handlebar
23 days ago

What are the meanings of CLTC, WLTC, MIIT, CATL?

The section on solid state batteries is a word salad of cut and paste with no context. I am interested in learning about this clearly new technology, but this info didn’t help me. Losing my capacity as I age, I guess.

Rod Millington
Rod Millington
23 days ago
Reply to  Handlebar

CLTC and WLTC are testing regimes that give estimates of a cars range. CATL is one of the largest battery manufacturers in the world. MIIT is the same as MIT but with a secondary institute.

Ben
Ben
23 days ago

Sport
Ultra
Extreme

A little on the nose, don’t you think, Fisker? 😉

The big question is whether Magna is going to continue making parts for these after Fisker is dead, and I wouldn’t assume so. There can’t be many of these in existence and it’s unlikely Magna will have a financial incentive to support them. And unlike an ICE, you can’t just treat it as a low-mileage weekend car to keep it running a long time. The batteries will eventually fail whether you drive it or not. Good luck getting a replacement in 15 years (or 9 if it has the same crappy quality of battery as David’s i3).

IM Motors claim that the L6, due to launch in May, will come with the industry’s first mass-produced ultra-fast charging solid state battery.

You have my attention…

However, MIIT listings which are the precursor for a car going on sale do not feature a solid state battery.

And now you don’t. Once again, solid state batteries are “just around the corner”. I’ll believe it when it ships with the actual thing.

Daniel MacDonald
Daniel MacDonald
23 days ago

Actually saw a Fisker the other day and nearly snapped my neck trying to take a look I had assumed these were just vaporware. Though good luck getting parts in a few years unless they somehow don’t fail.

And forget Chinese EVs when can I get a solid state battery for my phone? But in all seriousness this is the aspect of EVs that the EV haters don’t seem to get -this is still relatively early days for rechargeable battery tech. Maybe roughly equivalent to where ICE cars were in the 1920s?

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