Fisker Secures $50 Million to Bring Ocean Electric SUV into Production

The Fisker brand has just announced that it has raised $50 million in funds to bring its Ocean electric SUV into production after a round of financing. The investment has been made by Moore Strategic Ventures, a private investment firm owned by billionaire Louis M. Bacon.

In its press release, the manufacturer says it will use the funds to continue working on what will become its first production model after the launch of the EMotion sedan had been postponed. “Proceeds will be used to support the next phase of development of the Fisker Ocean electric luxury SUV, which will launch in 2022.”

Regarding the financing round, Fisker states the following: “Since we first showed the car at CES earlier this year, customer and investor feedback has been extremely positive. We are radically challenging the conventional industry, and this capital will allow us to execute our planned schedule to start producing vehicles in 2022. “

Along with this announcement, Fisker has confirmed two new signings: Burkhard Huhnke, former vice president of electric mobility for Volkswagen America, who has been hired as Fisker’s new chief technology officer; and Simon Sproule, Vice President of Communications for Toptal, and now Fisker Communications Advisor.

The Fisker Ocean will be an electric SUV called to rival the Tesla Model Y. Initially, its most performance version will be able to do 0 to 60 miles per hour in just 2.9 seconds. It will be available in two-wheel-drive and four-wheel-drive versions, while its 80 kWh battery will give it a range of about 298 mile-range EPA.

The brand promises that the Ocean will have a starting price of $37,499. However, it will also be available through a flexible leasing contract for $379 a month, including maintenance and a high annual kilometer limit. The model can now be reserved with a $250 deposit.

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