The Fisker Ocean SUV will be imported and sold in India starting in July 2023, according to the American electric vehicle company Fisker. Henrik Fisker and Geeta Gupta Fisker, a husband-and-wife team, created the business together. If sales forecasts are satisfied, the company plans to begin car manufacture in India by 2025.

According to Reuters, CEO Henrik Fisker stated that his company wants to be among the first entrants to take advantage of the fact that he believes India will be a significant market for electric vehicles. “India will eventually switch entirely to electricity. Although it might not move as quickly as in the US, China, or Europe, we want to be among the first to get here ” he said.

Currently, barely 1% of India’s 3 million yearly automobile sales are electric vehicles, with high battery prices and a lack of infrastructure serving as key roadblocks. To encourage the production of EVs in India, the central government is providing incentives worth billions of dollars, with the goal of raising their market share to 30% by the year 2030.

Tesla, Fisker’s American rival, had also intended to launch automobiles in India, but those plans have been put on hold as a result of the central government’s insistence on high import taxes for electric cars. Henrik Fisker acknowledges that selling in India is “extremely expensive” due to tariffs, but he argues that initial success will help establish a brand even if it only appeals to a small segment of the population.

“In the end, you practically have to start constructing a vehicle here or at least undertake some assembly,” Fisker added, “if you want to have somewhat of a greater volume in India.”

Startuputtrakhand.in has not independently confirmed this report.