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HomeAutoTesla's rival Fisker to sell electric SUV in India

Tesla’s rival Fisker to sell electric SUV in India

American firm Fisker will start selling its sports utility vehicle (SUV) Ocean in India next year. Fisker says it may also manufacture its own cars in the country in the next few years. The annual car sales in the country is around 3 million units and electric cars account for about one percent of this.

Fisker chief executive Henrik Fisker in an interview with Reuters Told That the sales of electric cars in India will increase by 2025-26. He said that the firm wants to take advantage of being an early entry in this segment. Henrik said, “India will eventually go fully electric. It will not happen at the pace of the US, Europe or China.” The Ocean is priced around $37,500 in the US, but importing it into India will attract a 100 percent import tax along with the logistics cost. This will put its price out of reach of most buyers as the medium price segment cars are sold more in the country.

The central government wants to increase the share of electric cars in total car sales to 30 percent by 2030. However, lack of charging infrastructure and high battery cost are major constraints in increasing sales in this segment. The government is also offering incentives worth millions of dollars to companies for manufacturing electric vehicles (EVs) and their parts in the country.

Global electric car maker Tesla has postponed its plans to start business in India due to non-availability of import tax exemption for its cars. Tesla wanted to see the response of the market by importing cars first and then taking a decision to manufacture in the country. Fisker believes that importing vehicles into India is very expensive. It wants to strengthen its brand with Ocean. However, due to its high price, it is likely to be sold in limited numbers. The number of electric cars in the country in the last few months sales has grown. In August, Tata Motors topped the segment in terms of sales. Mahindra & Mahindra has tried to increase its presence in electric cars but with little success. The total sales of this segment stood at 3,237 units in August. This is an increase of over 224 per cent over the same period last year.

(This news has not been edited by digitnews team. It has been published directly from Syndicate feed.)

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