Fisker's Expansion Into China Starts In December With First Store

Fisker's Shanghai Lounge located on Taicang Road in the heart of China's largest city will open in December 2023-January 2024.

Fisker Ocean at 2022 Goodwood Festival of Speed

Dan Mihalascu

By: Dan Mihalascu

Oct 12, 2023 at 12:45pm ET

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Fisker has revealed plans to open its first Fisker Lounge in Shanghai, China, as part of its strategy to enter the world's largest electric vehicle market.

After establishing an office in China in 2022 and releasing additional details on its plans for the country earlier this year, including setting up a delivery center in 2023, Fisker is continuing the roll-out of its China business.

The announcement of the Fisker Lounge in Shanghai builds on this strategy, as the brand's stores serve existing and future customers by being located in high-traffic retail locations where consumers are able to experience the Fisker brand and examine the vehicles.

Such is the case with the upcoming Shanghai Lounge that will be located on Taicang Road in the heart of the China's largest city. Fisker estimates the store will open in December 2023 or January 2024.

"China is an incredibly important market for us. We are delivering vehicles in the U.S. and Europe, but our goal since the company was established in 2016 has been to operate as a fully global firm," said Chairman and CEO Henrik Fisker.

Gallery: 2023 Fisker Ocean

2023 Fisker Ocean

"The EV industry is rapidly growing in China, and we want Fisker to be positioned as one of only two pure foreign EV brands. The Chinese customer deserves as much choice as possible, and we intend to provide it to them."

While Henrik Fisker would like his brand to be positioned similarly to Tesla in China, the timing for the EV maker's entry to the world's largest EV market is not ideal. With Tesla's exception, most non-Chinese automakers are struggling in China at the moment.

In June, Fisker said deliveries of the Ocean electric SUV in China were expected to begin in the first quarter of 2024. Henrik Fisker said at the time that sales in the region have the potential of reaching 75,000 units per year.

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Fisker is currently delivering the Ocean SUV in the United States and Europe. The EV maker reached a significant production milestone last month when the 5,000th Ocean SUV rolled off the assembly line at contract manufacturer Magna Steyr's plant in Graz, Austria.

The automaker said it expected to increase customer deliveries of the Ocean to 300 vehicles per day later this year to meet strong demand for the electric SUV. Fisker said earlier in September that it targeted production of 300 units per day in the fourth quarter compared to a daily output of 180 units in the third quarter.

Check out some of Fisker's future electric vehicles

Fisker Details Pear Electric Crossover: Up To 320 Miles Of Range

Fisker Alaska Electric Truck Revealed With 340-Mile Range, $45,400 Price

Source: Fisker

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