Fisker Ocean, why this terrible waste?

On pause for 3 months now, the production chain of the Fisker Ocean may never restart.

As a young automaker, Fisker does not produce its own cars but outsources this operation to Magna Steyr. This Austrian company is not a manufacturer in the strict sense but assembles nearly 200,000 vehicles each year for third parties, including Fisker.

During the presentation of Magna Steyr’s first quarter 2024 results last week, CEO Swami Kotagiri stated that the company had lowered its forecasts for 2024, taking into account the fact that the production of the Ocean had very little chance of resuming.

Beautiful from afar, but far from beautiful, the Fisker Ocean has faced criticism since its launch due to manufacturing quality and finishing unworthy of its price tag. The responsibility of Magna Steyr is obvious, but Fisker has always had the extreme elegance not to publicly blame its supplier. Fisker received more than 10,000 units last year but delivered less than half. The brand did attempt to regain positive momentum by slashing prices on the Ocean in stock, but fewer than 500 vehicles are said to have been sold despite discounts reaching almost 50% of the list price! Not very surprising, as even at a bargain price, who would reasonably buy a car knowing they could never get it repaired in case of problems!

While several manufacturers have shown interest in a potential buyout, none have made a firm offer to date. With Fisker losing value daily, it is likely that if a buyout occurs, it will be more of a hunt than a rescue…