Connect with us
Fisker Production Fisker Production

News

Fisker to begin production this month with ambitious goal

Prototype Fisker Ocean on the production line at Magna Steyr's carbon-neutral factory in Graz, Austria. Fisker is on target for a start of global production on November 17, 2022 - Credit: Fisker

Published

on

Fisker will begin production of their long-awaited Fisker Ocean SUV later this month, and the company has already increased its production goal to over 40,000 units in 2023.

The day that many feared would never come is upon us. Fisker is starting production of their Fisker Ocean electric SUV later this month via their manufacturing partner Magna International in Graz, Austria. The company seems optimistic as, according to TechCrunch, the automaker has already increased its goal production number for 2023 to 42,400 units.

Fisker’s ambitious production target for their first year is, at the very least, backed up by the vehicle’s high demand. According to recent reports from the company, they have already received over 62,000 orders for the upcoming vehicle and anticipate nearly 20,000 more by the end of the year. Furthermore, with the help of Magna International manufacturing the vehicle, this goal may not be as far off as some may anticipate.

Fisker was able to quickly grow orders in August of this year after the Inflation Reduction Act (IRA) was passed as consumers flocked to reserve vehicles before the law took effect. The IRA will now make Fisker’s Ocean ineligible for federal tax incentives as it is assembled in Graz, Austria. It remains unclear how upcoming order numbers will be affected now that the vehicle will not qualify for what is ostensibly a $7,500 discount.

Advertisement

The Fisker brand and its occasionally eccentric CEO, Henrik Fisker, have long drawn doubts about when the company would actually begin production of their upcoming electric SUV, the Ocean. However, as the date of starting production draws nearer, the brand has gained credibility for its plans.

With this news, Fisker stock has recovered from its one-month decline, up just over 2% compared to 30 days ago. However, the stock offering is still down over 50% compared to 1 year ago. Perhaps with the company finally becoming a manufacturer of vehicles, the stock can finally begin to recover, and investors can have positive financials to look forward to.

William is not a Fisker investor.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

Advertisement

Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

Advertisement
Comments

News

Tesla ‘Killer’ heads to the graveyard as AFEELA taps out

SHM has officially discontinued development of its highly anticipated AFEELA electric vehicles. On March 25, the joint venture between Sony and Honda announced it would halt the AFEELA 1 luxury sedan and a planned SUV model.

Published

on

Credit: AFEELA/X

There have been many Tesla “Killers” over the years, all of which have either failed to dethrone the automaker from its dominance in the United States, or even make it to the market altogether.

The Sony Honda Mobility (SHM) project, known as AFEELA, is the latest to make it to the grave, as the company announced its intentions to abandon the project earlier this week, Bloomberg reported.

SHM has officially discontinued development of its highly anticipated AFEELA electric vehicles. On March 25, the joint venture between Sony and Honda announced it would halt the AFEELA 1 luxury sedan and a planned SUV model.

The decision follows Honda’s March 12 reassessment of its electrification strategy, which scrapped several upcoming EV programs amid slowing demand, high costs, and shifting market conditions.

Advertisement

SHM stated that it could no longer rely on key Honda technologies and manufacturing assets, leaving “no viable path forward.” Reservation fees for early buyers in California are being fully refunded, and the joint venture’s future is now under review.

Launched with fanfare in 2022, the AFEELA was positioned as a tech-forward premium EV blending Honda’s engineering reliability with Sony’s entertainment and AI expertise.

Prototypes featured advanced autonomous driving systems, immersive in-cabin displays, and even PlayStation integration, earning it early media labels as a potential “Tesla Killer.”

No more “Tesla Killers:” It’s becoming increasingly difficult to distinguish the “EV market” from the mainstream auto segment

Advertisement

Priced around $90,000, the sedan was slated for limited production at Honda’s Ohio plant with deliveries targeted for late 2026. Industry watchers saw it as a serious challenger to Tesla’s dominance in software, connectivity, and premium appeal.

Yet, like many ambitious EV projects, it fell victim to broader industry headwinds: softening consumer demand, persistent high interest rates, and intense competition from established players.

The AFEELA joins a long list of vehicles once hyped as “Tesla Killers” that failed to deliver. In the late 2010s, Fisker’s second act, the Ocean SUV, promised stylish design and solid-state battery tech but collapsed into bankruptcy in 2024 after production delays, quality issues, and financial shortfalls.

Faraday Future poured billions into the FF 91 luxury sedan, touting it as a hyper-tech rival with unmatched performance and features; the company delivered fewer than 100 vehicles before fading into obscurity.

Advertisement

Lordstown Motors’ Endurance electric pickup generated massive pre-order buzz and Wall Street excitement but imploded after exaggerated range claims, a factory sale, and eventual bankruptcy.

Even Lucid Motors’ Air sedan, frequently called a Tesla slayer for its superior range and luxury, has struggled with sluggish sales and missed growth targets despite strong reviews.

Lucid unveils Lunar Robotaxi in bid to challenge Tesla’s Cybercab in the autonomous ride hailing race

Rivian’s R1T and R1S trucks enjoyed similar early acclaim and a blockbuster IPO, yet production ramp-up challenges and profitability woes have prevented it from dethroning Tesla.

Advertisement

The AFEELA’s quiet demise underscores a harsh reality in the EV sector. While Tesla’s first-mover advantage in software, charging infrastructure, and brand loyalty remains formidable, legacy automakers and tech newcomers alike continue to underestimate the complexities of scaling affordable, desirable electric vehicles.

As market realities force tough choices, the graveyard of “Tesla Killers” grows longer, another reminder that innovation alone is rarely enough to topple an established leader.

Continue Reading

Elon Musk

TIME honors SpaceX’s Gwynne Shotwell: From employee No. 7 to world’s most valuable company

Time Magazine honors Gwynne Shotwell as SpaceX reaches a $1.25 trillion valuation and eyes its IPO.

Published

on

By

TIME Magazine has put SpaceX President and COO Gwynne Shotwell on its cover, and the timing could not be more fitting. Published today, the profile of Shotwell arrives at a moment when the company she has quietly run for more than two decades stands at the center of the most consequential developments in aerospace, artificial intelligence, and the future of human civilization.

Shotwell joined SpaceX in 2002 as its seventh employee and has never stopped expanding her role. She oversees day-to-day operations across multiple executive teams spanning Falcon, Starlink, Starship, and now xAI following SpaceX’s February 2026 merger with Elon Musk’s artificial intelligence company, a deal that made SpaceX the world’s most valuable private company at a reported valuation of $1.25 trillion. A highly anticipated IPO is expected in the second quarter of 2026.

Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI

Her track record is historic. She oversaw the first landing of an orbital rocket’s first stage, the first reuse and re-landing of an orbital booster, and the first private crewed launch to Earth orbit in May 2020. She built the Falcon launch manifest from nothing to more than 170 contracted missions representing over $20 billion in business. Under her operational leadership, SpaceX completed 96 successful missions in 2023 alone and has now flown more than 20 crewed Falcon 9 missions. Starlink, which she championed as a financial pillar of the company long before it was a mainstream topic, now connects tens of millions of users worldwide and provided a critical communications lifeline to Ukraine following the 2022 invasion.

Advertisement

Elon Musk has never been shy about what Shotwell means to him and to SpaceX. When she shared her vision for worldwide internet connectivity through Starlink, Musk responded on X with a simple statement, “Gwynne is awesome.” It is a sentiment that has been echoed across the industry. NASA Administrator Bill Nelson once said of Musk: “One of the most important decisions he made, as a matter of fact, is he picked a president named Gwynne Shotwell. She runs SpaceX. She is excellent.”


Now, with Starship targeting its first crewed lunar landing under the Artemis program by 2028, an xAI integration underway, and a pending IPO that could reshape capital markets, Shotwell’s mandate has never been larger. She told Time that 18 Starships are already in various stages of construction at Starbase. “By 2028,” she said, gesturing across the factory floor, “these should be long gone. They better have flown by then.” If Shotwell’s history at SpaceX is any guide, they will.

Advertisement
Continue Reading

Elon Musk

SpaceX’s IPO might arrive sooner than you think

Musk has hinted for years that an eventual public offering was inevitable, though he has stressed the need to maintain operational focus. Insiders have told outlets that the CEO is pushing for a significant retail investor allocation, reportedly more than 20 percent of shares, and tighter lock-up periods to limit early selling pressure.

Published

on

Credit: SpaceX | X

Elon Musk’s SpaceX is on the verge of one of the most anticipated Initial Public Offerings (IPO) in history.

However, a new report from The Information indicates the rocket and satellite giant is aiming to file its IPO prospectus with U.S. regulators as soon as this week, or early next week at the latest.

People familiar with the plans told The Information that advisers involved in the process expect the IPO could raise more than 75 billion dollars, potentially making it the largest stock market debut ever and eclipsing Saudi Aramco’s 29.4 billion dollar offering in 2019.

The filing would mark the formal start of what has long been rumored: SpaceX’s transition from a closely held private powerhouse to a publicly traded company.

Advertisement

The timing aligns with earlier signals.

In late February, Bloomberg reported that SpaceX was targeting a confidential IPO filing in March and a possible public listing in June, with a valuation north of 1.75 trillion dollars. At the time, the company’s private valuation hovered around 1.25 trillion dollars.

SpaceX considering confidential IPO filing this March: report

Starlink, SpaceX’s satellite internet constellation, has been the primary driver of that surge, now serving millions of customers worldwide and generating steady revenue. Recent Starship test flights and a record pace of Falcon launches have further bolstered investor confidence.

Advertisement

Musk has hinted for years that an eventual public offering was inevitable, though he has stressed the need to maintain operational focus. Insiders have told outlets that the CEO is pushing for a significant retail investor allocation, reportedly more than 20 percent of shares, and tighter lock-up periods to limit early selling pressure.

A June listing would give SpaceX immediate access to public capital markets at a moment when demand for space-related stocks remains high. It would also allow early employees and long-time investors to cash out portions of their stakes while giving everyday shareholders a chance to own a piece of the company behind reusable rockets, global broadband, and NASA contracts.

Of course, nothing is certain until the SEC filing appears. Market conditions, regulatory reviews, and Musk’s own schedule could still shift timelines.

Yet the latest word from The Information suggests the window has opened. If the filing lands this week, SpaceX’s roadshow could begin in earnest within weeks, setting the stage for what many analysts already call the IPO of the decade.

Advertisement
Continue Reading