Fisker has revealed its intentions to enter the Chinese market by opening a delivery center in China this year. Following in the footsteps of Lucid Motors, Fisker aims to tap into the growing demand for EVs in China. The company plans to inaugurate the delivery center in 2023 and commence deliveries of its Fisker Ocean SUV in the first quarter of 2024.
To explore collaboration and seize opportunities in the region, Fisker’s leadership team recently visited China and held discussions with government officials and business leaders in Shanghai. These talks centered around the automotive supply chain, logistics, warehousing, and future production development. Fisker established its China office in 2022, indicating its commitment to the Chinese market.
Henrik Fisker, the Chairman and CEO of Fisker, expressed optimism about the potential of the Chinese market for EVs. He stated, “We expect China to be an important growth market for EVs in the future and believe our vehicles will be very appealing. That is why we established an office there and intend to open a delivery center this year.” Fisker further added that production in China could commence as early as next year, potentially adding a capacity of 75,000 Fisker Ocean vehicles per year.
In an interesting development, Zhu Jiang, previously associated with NIO, Ford, and Jidu Auto (the car-making arm of Baidu), has joined Lucid to oversee its operations in China. Zhu confirmed Lucid’s preparations for entering the Chinese market, indicating a growing focus on the region by US EV startups.
China stands as the world’s largest EV market, with significant growth observed in the past few years. Market research firm Counterpoint Research reported that China accounted for 56 percent of total global EV sales in the first quarter of this year. The premium and affordable luxury segment in China is witnessing faster growth than the general EV segment, making it an appealing market for Fisker. Daniel Foa, Fisker’s China board member, highlighted the company’s alignment with this segment through its unique history, features, and design.
As Fisker prepares to commence deliveries of its first production model, the Fisker Ocean all-electric SUV, in the US on June 23, it is noteworthy that the company has secured CATL, a major Chinese power battery supplier, as its partner. Fisker signed an agreement with CATL on November 2, 2021, ensuring a battery supply for the Ocean SUV. CATL is expected to provide Fisker with over 5 GWh of initial capacity per year from 2023 to 2025, as per a previous statement.
With its expansion into the Chinese market, Fisker aims to capitalize on the country’s growing demand for EVs and establish a strong presence in this key market.
