Fisker, the California-based electric vehicle (EV) manufacturer, has announced its plans to launch a new low-priced EV called the Pear. The company’s CEO, Henrik Fisker, revealed that the vehicle will be introduced in the first half of 2025 with a cost of under 30k in the USA.
Fisker emphasized the radical nature of the upcoming model, which will require the development of new production methods. The Pear was initially expected to start production in 2024 at the Foxconn-owned factory in Ohio, where the Lordstown Endurance electric pickup is currently being manufactured.
The CEO shared that the Pear will be offered in two battery variants to cater to different customer needs. One variant will provide a range of 100-150 miles, targeting city-based customers who may have a second car for longer trips. The other variant will offer over 300 miles of range for those who require a larger range capacity.
Fisker believes that there will be a shift in consumer attitudes toward range requirements in the coming years. He stated that in two years’ time, people will realize that a shorter range is sufficient, particularly if they have access to a second vehicle. However, to remain competitive in the current market, Fisker acknowledged the need to offer a long-range option for the Pear.
To achieve affordability and efficiency, the Pear EV will feature a dedicated steel chassis designed with 25 percent fewer parts than a conventional platform. The interior will adopt a minimalist approach, focusing on simplicity with “zero moving parts.” Traditional components such as a center console and glove compartment will be eliminated.
Fisker revealed that over 6,000 reservations have already been made for the Pear EV, indicating strong interest in the upcoming model. By offering a competitively priced electric vehicle with a range suitable for urban environments, Fisker aims to tap into the growing demand for affordable and sustainable transportation options.
The delayed launch of the Pear EV allows Fisker to refine its production methods and ensure that the vehicle meets the company’s standards. As the EV market continues to evolve, Fisker’s commitment to innovation and affordability positions the company for success in the rapidly expanding electric vehicle industry, especially where Tesla is the leader.
FSR Stock Forecast & Analysis
According to the average analyst target price from 8 analysts, Fisker Inc is projected to reach USD 10.80 over the next 12 months. This indicates a potential increase in value from the current stock price. The average analyst rating for Fisker Inc is a “Buy”, suggesting optimism among analysts about the company’s future prospects.
Stock Target Advisor’s analysis gives Fisker Inc as Very Bearish. This assessment is based on 0 positive signals and 9 negative signals, implying a more cautious outlook. It’s important to note that different analysts and forecasting models can generate varying opinions and predictions.
At the last closing, Fisker Inc’s stock price stood at USD 6.23. Over the past week, there has been a positive change of +11.65%, indicating some recent upward momentum. The stock price has also increased by +13.07% over the past month, reflecting a relatively positive performance in the short term. However, looking at the one-year timeframe, Fisker Inc’s stock price has experienced a decline of -33.08%.