Fisker Eyeing India Entry With Ocean EV, Might Build PEAR Locally via insideevs.com
Fisker has announced plans to start selling its Ocean electric SUV in India next summer and may even begin local production of the EV within a few years.that sales of EVs in India will increase by 2025-2026, which is why his company wants to be among the first to gain a foothold into the market. He said the company is looking for real estate space to open a New Delhi showroom and is meeting auto component suppliers to source parts for its global production.It may not go as fast as the U.S.
"If we can get that vehicle just below $20,000 locally in India, that would be ideal. Then I think we'll get to a certain volume and market share."does not own an assembly plant. The EV startup has contract manufacturing agreements with Magna International in Austria for the Ocean and Foxconn in the United States for the PEAR.
Currently, EVs only make up 1 percent of India's roughly 3 million annual car sales. They are slow to gain market share because of the country's insufficient charging infrastructure and high battery costs. India's government aims to increase the share of electric vehicles to 30 percent by 2030, and is offering EV and battery makers billions of dollars in incentives to build their EVs and EV components locally to achieve that.
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