Fisker has unveiled plans to establish its first Fisker Lounge in Shanghai. This milestone is part of the company's broader strategy to deepen its roots in China, as the race for supremacy in the EV industry continues to gather momentum.
Having laid the foundation for its Chinese operations in 2022 and subsequently revealing ambitious plans for the country earlier this year, including the setup of a delivery center in 2023, Fisker is steadfastly rolling out its business in the Middle Kingdom. The announcement of the Fisker Lounge in Shanghai is a pivotal element of this strategy, marking its presence in high-traffic retail locations where customers can immerse themselves in the Fisker brand and explore their lineup of electric vehicles.
The upcoming Shanghai Lounge, situated on Taicang Road in the heart of China's bustling metropolis, is projected to welcome its first visitors in December 2023 or January 2024, according to Fisker's estimates.
Fisker's Chairman and CEO, Henrik Fisker, emphasized the company's commitment to the Chinese market, stating, “China is an incredibly important market for us. We are delivering vehicles in the U.S. and Europe, but our goal since the company was established in 2016 has been to operate as a fully global firm.” He continued, “The EV industry is rapidly growing in China, and we want Fisker to be positioned as one of only two pure foreign EV brands. The Chinese customer deserves as much choice as possible, and we intend to provide it to them.”
However, entering China's EV market, despite its immense potential, presents a unique set of challenges. Excluding Tesla, most non-Chinese automakers have encountered hurdles in this fiercely competitive landscape.
Fisker had previously announced that deliveries of its Ocean electric SUV in China were scheduled to commence in the first quarter of 2024. Henrik Fisker, at that time, expressed optimism about the region's potential, with sales possibly reaching up to 75,000 units per year.
Simultaneously, Fisker is actively delivering the Ocean SUV in the United States and Europe. Recently, the company achieved a significant production milestone as the 5,000th Ocean SUV rolled off the assembly line at the Magna Steyr's plant in Graz, Austria, a contract manufacturer. Fisker anticipates a substantial uptick in daily customer deliveries of the Ocean later this year, in a bid to meet the surging demand for their electric SUV. In September, they set their sights on reaching a daily production of 300 units in the fourth quarter, a marked increase from the third-quarter output of 180 units.
As Fisker strengthens its presence in China, the competitive dynamics of the electric vehicle market in this global giant promises to be one of the industry's most closely watched stories in the coming years. With growing interest and increasing consumer demand, Fisker's Shanghai Lounge is poised to play a pivotal role in the company's journey to establish a significant foothold in this vibrant and rapidly evolving market.