Fisker to Enter India Market with Ocean and PEAR


Stock Markets 1 hour ago (Sep 16, 2022 11:27AM ET)

Fisker to Enter India Market with Ocean and PEAR © Reuters. Fisker (FSR) to Enter India Market with Ocean and PEAR

By Michael Elkins 

American electric car maker, Fisker Inc. (NYSE:), is set to enter the India market after setting up headquarters in Hyderabad. The company is looking to get its first models, the Ocean, and the PEAR into the country soon. The office in Hyderabad will work with the company’s facilities in California, USA.

Henrik Fisker, Chairman and CEO, Fisker Inc. said about the announcement, “Our expansion into India represents both a strategic market opportunity and a significant boost to our global engineering capabilities. We have already started local hiring in India and expect our new team in Hyderabad to be fully operational and engaged on multiple product programs within weeks. Our talent pool in India will help us pave the way for the launch of Fisker Ocean and Fisker PEAR in India.”

Production of the Fisker Ocean is set to begin on November 17, 2022, at the company’s facility in Magna Steyr, Graz, Austria. The electric vehicle is available in three options: the Sport, Ultra, and Extreme. Fisker says that deliveries of the PEAR will commence in the primary markets in 2024.

Shares of FSR are up 4% in mid-day trading on Friday.

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