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Fisker Slashes Ocean Prices up to $24K as It Fights to Avoid Bankruptcy

2023 fisker ocean
2023 Fisker Ocean Prices Cut between $14K and $24KFisker
  • The 2023 Fisker Ocean lineup is getting its prices slashed by between $14K and $24K, depending on the trim level.

  • The top-spec Extreme's base price drops from $63,937 to $39,937; the entry-level Sport and mid-tier Ultra now start at $27,437 and $37,437, respectively.

  • The dramatic price cuts come as Fisker fights to avoid bankruptcy, having recently paused production for six weeks to address the situation.

Fisker appears to be on the brink of bankruptcy, and today the California-based startup has announced that it is drastically slashing prices for the 2023 Ocean electric SUV. The lineup consists of three trim levels, starting with the front-drive Sport and moving up to better-equipped all-wheel-drive models—the Ultra and top-of-the-line Extreme.

The entry-level Sport sees its starting price drop by $14K, from $41,437 to $27,734. The mid-tier Ultra's starting price is cut $18K, from $55,437 to $37,437. Finally, the Extreme's previous base price has gone from $63,937 all the way down to $39,937, which amounts to a substantial $24,000 discount. All of these figures include the $2438 destination fee.

2023 fisker ocean
Fisker

Fisker said the reduced prices apply to 2023 models with the company new 2024 Ocean OS 2.0 software installed. The discounts will also go into effect this Friday, March 29. In its press release, the company said,"Fisker is strategically positioning Ocean to be a more affordable and compelling EV choice, competitively available to EV buyers."

Car and Driver has reached out to a Fisker spokesperson to ask if the price cuts will apply to the 2024 Ocean too, however, we have yet to hear back from them. We will update this story if or when we get a response.

It's no coincidence that the dramatic price cuts come as the company fights to avoid bankruptcy. This past February, Fisker's problems became obvious after an ominous earnings call that provided a bleak outlook followed by mass layoffs. Then, starting last week on March 18, the company paused production for six weeks as it worked on a plan to address its current financial turmoil.

While Fisker has announced a commitment from an existing investor along with a new wave of financing reportedly worth up to $150 million in gross proceeds, talks with a large unnamed automaker have since broken down, according to Reuters. Fisker has also been delisted from the New York Stock Exchange as its financial woes grow.

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