Fisker Slashes Prices on 2023 EV Models in Affordability Bid

Dow Jones03-28

By Ben Glickman

Struggling electric-vehicle maker Fisker is cutting the suggested prices for some of its 2023 model-year vehicles, a bid to drum up demand for its cars as the startup struggles for cash.

The Los Angeles-based company said late Wednesday that its would reduce its Manufacturer's Suggested Retail Price on 2023 Ocean models, including the Extreme, Ultra and Sport trims.

Fisker's 2023 Ocean Extreme trim's MSRP will be reduced to $37,499 from $61,499, a drop of 39%.

The Ultra and Sport trims will have their MSRP reduced by 34% and 36%, respectively.

Fisker said it was positioning the Ocean model as a "more affordable and compelling EV choice" that could compete in a broad market.

Fisker said Monday that its talks with a potential large automaker partner had fallen apart, raising additional questions about its liquidity. The New York Stock Exchange shortly after said it would delist the company's shares due to their low price, which may cause the company to default on some of its debt.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

March 27, 2024 20:08 ET (00:08 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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