Beginning in the early 1990s, Henrik Fisker established a reputation as one of the most talented automotive designers of the time. Before going on his own, his pencil was the force behind cars like the BMW Z8, the first generation X5 and the Aston Martin DB9 and V8 Vantage. His independent ventures continued to bring fascinating designs if not necessarily huge commercial success.

Now more than three decades into its career, Fisker is trying again with the launch of the production version of the Fisker Ocean electric crossover.

The current iteration of Fisker Inc. was born in 2016, several years after the collapse of Fisker Automotive and the Karma plug-in hybrid grand touring sedan, a project that lives on as Chinese-owned Karma Automotive. Fisker Inc. caused a stir at the 2018 Consumer Electronics Show with the Emotion electric sedan, an overly ambitious effort that may or may not come to fruition. In 2020, Fisker returned to CES with the Ocean.

Unlike the high-priced Emotion, the five-passenger Ocean is aimed at the mass market with an affordable price tag. As Henrik Fisker and every entrepreneur of the past 130 years who have tried to start an automotive business know, the design concept is the easy part. Turning it into a real product is something else entirely.

Bringing the ocean to market

The original 2020 Ocean concept was built around Volkswagen’s MEB platform, the same architecture used for the VW ID.4 and other electric vehicles from the German automaker. Fisker tried to strike a deal with VW to use MEB in production, but that never materialized. Instead, Fisker has formed a partnership with Magna International, the Canadian automotive supplier that has nearly every modern vehicle part in its portfolio.

The company’s Austrian subsidiary Magna Steyr has been assembling complete vehicles for automakers such as Mercedes-Benz, Stellantis, BMW, Jaguar Land Rover and others for decades. This factory in Graz, Austria, is already building pre-production prototypes of the Ocean and is expected to produce two Oceans a day by March. Serial production is expected to begin in November 2022.

Magna had already developed an electric vehicle reference platform to demonstrate the various components it could supply as well as its ability to help design and produce the vehicles. From there, Fisker and Magna developed what was dubbed the Fisker FM29 platform, which is now approximately 90% owned by Fisker. Magna has reserved production capacity of up to 50,000 Oceans per year from its Austrian factory, about half of which is allocated to North America and the rest to Europe.

Innovative modes

Measuring 188 inches, the Ocean is about the same size as the Tesla Model Y and Ford Mustang Mach-E, but has a slightly longer wheelbase at 115 inches. Unlike those rivals, the Fisker retains a long-roof wagon-like profile that aids rear storage and allows for the sliding sunroof. The Ocean features a “California Mode”, where all four door windows, rear quarter windows and the tailgate glass lower while the roof slides rearward. Fisker claims the sunroof has the widest opening in the industry. With everything open, the feel is reminiscent of a topless Jeep Wrangler.

The Ocean offers other West Coast-themed modes, including a large 17.1-inch vertical center touchscreen that rotates 90 degrees into “Hollywood mode” for watching videos while charging. Unlike Tesla and Ford, Fisker believes some controls, especially its climate control system, are better with physical buttons that can be felt without looking at them. The temperature control sits at the base of the screen when in portrait mode and remains even when the screen is rotating.

The Ocean’s center console floats, leaving room under it and under the seats for rear passengers to stretch their legs and feet. Six-foot-tall CEO Henrik Fisker demonstrated the rear seat’s ample legroom and headroom. One place homeowners won’t find space is under the ocean front. There’s no frunk (front trunk) and what would traditionally be called the bonnet is fixed like on the BMW iX. Service personnel can open it, but with the front engine and power electronics there isn’t much room for storage. A fixed hood allowed Fisker to avoid using gaskets, latches and liners, reducing the base price.

The Ocean Electric Powertrain

The base Ocean Sport has a single 275 horsepower unit driving the front wheels. Using a front motor allows the Ocean to maximize regenerative braking for extra range and improves traction in bad weather. All Oceans will have batteries supplied by CATL, although the Sport will use lower-cost lithium iron phosphate batteries like what Tesla uses for its standard line models. Fisker hasn’t released details on capacity, but says the Ocean Sport will have a range of 250 miles.

The Ultra, Extreme and Ocean One models will have two motors and a battery with nickel-manganese-cobalt chemistry, a more expensive option but with greater energy density which increases range to 340 miles for the Ultra and 350 miles for Extreme. The Ultra will deliver 540 horsepower and a zero-to-60 mph time of 3.9 seconds; the Extreme and One have 550 horsepower and a 3.6-second sprint at 60 mph.

High-tech features

The optional SolarSky roof panel on the Extreme and Ocean One models can supposedly add up to 2,000 miles per year of battery range under optimal conditions. In sunny areas like California, 1,500 miles per year would be more typical, but even that is optimistic for most drivers. For those parking the Ocean in a garage, the solar roof is unlikely to be a useful option.

Fisker and Magna have a suite of advanced ocean driver assistance systems that include the first use of Magna’s new Icon imaging radar sensor. This high resolution radar provides a signal similar to a lidar point cloud for better tracking and object recognition, although it is not as high resolution as typical lidars. Details on specific system features will be provided closer to launch, but the Ocean supports over-the-air updates and should improve over time.

Fisker makes extensive use of recycled materials inside, including fabrics, old fishing nets and repurposed rubber. The optional 20-inch aero wheels also include recycled carbon fiber inserts.

A new company with experience

Fisker has made some good business choices to manage costs. Previously, Fisker targeted the high-end market, but the volume there is often not enough to generate the cash flow needed to develop consumer products. It typically costs $1 billion or so to bring a vehicle to market. Initially, Tesla also targeted the high end of the market, hoping to use it to fund the development of more affordable models. Despite the success of the Model S and X, Tesla has still had to return to the capital markets several times over the years to fund its ongoing operations.

By partnering with Magna, which already enjoys huge economies of scale, Fisker can reduce capital costs in the early years while launching affordable models it hopes will generate volume. Unlike Tesla’s physical storefronts, Fisker will rely solely on sales through its app. Distribution centers will be located on the outskirts of expensive urban areas and home delivery will also be available. A partnership with Cox Automotive will meet maintenance needs. Cox already has several business units that work with dealerships and a used vehicle servicing and refurbishing unit for its auction business.

Fisker Ocean Pricing 2023

The goal is to make even the base Ocean Sport profitable at its starting price of $37,499. The two-motor Ocean Ultra starts at $49,999, while the Extreme and Ocean One are $68,999. The first 5,000 units will all be Ocean One models. Fisker’s Flexee Lease aims to make the ocean more accessible to young customers. With a $3,000 down payment and $379 per month for the Ocean Sport, buyers won’t be locked in for the long haul. An owner can return the Ocean at any time after three months with no impact on their credit, although they forfeit the deposit.

Fisker’s ocean reservation listing is open and requires a $250 deposit; deliveries will likely begin around early 2023.

With help from partners like Magna and CATL and innovative business approaches, Henrik Fisker could expand his reputation as a great designer into a successful automotive startup.