EV maker Fisker cuts prices to stay afloat

THE electric carmaker Fisker has slashed prices of its vehicles by as much as 39pc as it battles to stay afloat.

Fisker, which was founded in 2016 by the James Bond car designer Henrik Fisker, is cutting the price of its higher-end Ocean “Extreme” electric SUV to $37,499 (£29,697) – a $24,000 discount.

Prices for its Ultra and Sport models have also been cut.

Fisker said the reductions were taken to make its Ocean vehicles “a more affordable and compelling EV choice”.

The company was forced to pause production earlier this month, warning it would struggle to survive another month without a fresh cash injection.

Its shares were halted earlier this week, after talks over a potential tie-up by a large carmaker, reported to be Nissan, collapsed.

The New York Stock Exchange has moved to delist the electric vehicle start-up’s shares citing its “abnormally low” price levels. Fisker said last week that it was looking to raise as much as $150m by selling bonds after it missed an interest payment. The company said it could not make the $8.4m payment as it did not have enough liquidity.

The pause in production, which started last week, will run for six weeks.

Speaking to The Telegraph in 2021, Mr Fisker said: “Everybody seems to be launching super-luxurious electric vehicles, even the old or the traditional carmakers. I think the real market potential is in the high volume beyond the market of the wealthy, who have bought electric cars.”