Desperate Fisker Drops Ocean Base Price to $24,999 in an Attempt to Survive

The Ocean is now something it was never intended to be: The cheapest EV in America.

Fisker Ocean

Christopher Smith

By: Christopher Smith

Mar 27, 2024 at 10:32am ET

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Update: It might not even be possible to buy a $24,999 Ocean.

Fisker just announced major price cuts for 2023 Ocean models, and we mean major. The entry-level Ocean Sport now costs $24,999 before destination charges. That easily makes it the cheapest EV in America by a wide margin, beating the Nissan Leaf by a few grand. In fact, the Ocean easily slots onto our list of the cheapest SUVs you can buy.

It's not just the base model getting a tempting price tag. Fisker cut the range-topping Ocean Extreme nearly in half, dropping $24,000 from the sticker. It now starts at $37,499 (down from $61,499) and that gets you a dual-motor SUV with 564 horsepower in Boost Mode and a 0-60 mph time under 4 seconds.

Fisker Ocean Production Model

The Ocean also has an EPA-estimated range of 360 miles and comes standard with niceties like a panoramic sliding roof, a plethora of driver-assist systems, a banging stereo, and more. Or if that's too much, the mid-range Ocean Ultra's price is now $34,999 and you still have 350 miles of range with sub-four-second sprints to 60 mph.

We aren't trying to sell Fisker Oceans. The price drops are just that extreme when compared to other SUVs on the market, electric or combustion. Furthermore, Fisker says some of these models have up to $7,000 in options included in these prices. And while they're 2023 models, they have the latest software installed for 2024.

Price Range Ocean Sport $24,999 231 Miles Ocean Ultra $34,999 350 Miles Ocean Extreme $37,499 360 Miles

Fisker Ocean Production Model

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Of course, the elephant in the room is Fisker's current financial state. The company stated that, on its present course, there aren't enough funds in the bank to make it through the end of the year. Reports of recent talks with other automakers on possible investments offered some hope, but those talks—allegedly focused on a partnership with Nissan—ended without a deal.

Fisker struggled to get the Ocean to market, but over 10,000 models were built in 2023 with approximately 4,700 delivered to owners. Is this significant price cut enough to woo buyers into a vehicle built by a company that could be bankrupt by this time next year? That remains to be seen.

Fisker Foibles:

Fisker Reportedly Delivered Cars Without Collecting Payments

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Source: Fisker

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