U.S. startup Fisker Inc will begin selling its Ocean electric sport-utility vehicle (SUV) in India next July and could begin manufacturing its cars locally within a few years, the company's chief executive officer told Reuters.
after failing to secure a lower import tariff for its cars. Like Fisker, it first wanted to import vehicles to test the market before committing to local manufacturing.
The Ocean retails at around $37,500 in the United States but importing it to India would add logistics costs and a 100% import tax. That would put it out of reach of most buyers in a market where the bulk of cars sold are priced under $15,000. The company's next EV - the smaller, five-seater PEAR - is being considered for production in India but not before 2026, he said.
To set up a plant in India would require volume of at least 30,000 to 40,000 cars a year, Fisker said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fisker Ocean to be sold in India, Pear could be built there | AutoblogFisker plans to sell its Ocean electric SUV in India and hopes to eventually build cars there for the local market.
Read more »
NFT Startups Sanctioned by Apple: DetailsTim Sweeney, CEO of legendary gaming studio Epic Games, slammed Apple Inc. for increased scrutiny on NFT-centric products
Read more »
Netflix dismisses lawsuit against the creators of 'The Unofficial Bridgerton Musical'Netflix Inc dropped its lawsuit against the creators of 'The Unofficial Bridgerton Musical' after reaching a settlement, according to person familiar with the matter.
Read more »
Krafton Reveals New Visual Assets For The Bird That Drinks Tears GameKrafton Inc. released new visual assets this past week, showing off more of their untitled game based on The BirdThatDrinksTears.
Read more »
Instacart cuts staff, curbs hiring before IPO, The Information reportsGrocery delivery app Instacart Inc has been letting go staff, slowing hiring and curbing other expenses as it heads toward a public listing, the Information reported on Saturday, citing people familiar with the matter.
Read more »