🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Fisker unveils electric pickup truck even as supply chain bottleneck lingers

Published 08/03/2023, 08:28 PM
Updated 08/03/2023, 08:42 PM
© Reuters. Electric car company Fisker shows off its Alaska pickup truck in Huntington Beach, California, August 3, 2023.  REUTERS/Mike Blake
TSLA
-

By Lisa Baertlein and Abhirup Roy

HUNTINGTON BEACH, California (Reuters) - Electric vehicle (EV) maker Fisker Inc unveiled a pickup truck on Thursday, weeks after starting deliveries of its flagship sport utility vehicle (SUV) and as it tackles persistent supply chain issues.

Fisker aims to make a mark in the crowded EV market with lower-priced vehicles that still have high-design sensibility.

Slated to start production early 2025, the Alaska will join a fast-heating electric pickup market with players such as Ford's F-150 Lightning, Tesla (NASDAQ:TSLA)'s Cybertruck and Rivian's R1T set to jostle for dominance.

At just over $45,000, the Alaska will be priced lower than most rivals, Chief Executive Henrik Fisker told Reuters on the sidelines of the launch event in Huntington Beach, California.

While the R1T starts at $73,000, Ford cut the price of F-150 Lightning to just under $50,000.

Fisker said Alaska, reservations for which opened on Thursday, would be built on the same platform as its Ocean SUV. It will have a range of about 230-340 miles.

The Alaska is lighter and smaller than its rivals with a 4.5 feet (1.37 m) bed that can extend into the cabin to about 7.5 feet. "Our truck is the sportiest truck you are going to see," he said.

Fisker's announcement comes at a time when the broader EV market has been hit by a price war sparked by market leader Tesla to boost demand as rising interest rates have soured consumer demand.

Fisker, which uses contract manufacturing for its vehicles, aims to keep cost of production as well as vehicle prices low.

While the Ocean SUV starts at $37,499, its smaller Pear SUV, which was also unveiled on Thursday, is priced at $29,990.

But Fisker, like many of its EV peers, has been grappling with supply chain disruption that has hampered production of Ocean with the company missing its target in the quarter ended June.

© Reuters. Electric car company Fisker shows off its Alaska pickup truck in Huntington Beach, California, August 3, 2023.  REUTERS/Mike Blake

Fisker said while a major shortage was resolved some suppliers are still having issues getting parts from their sub-suppliers.

"We're still in a hangover of COVID," he said, adding that some bottlenecks might continue for the rest of the year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.