Fisker understood that the segment of low-priced EVs that can truly be used as more than just commuting appliances is not saturated. Currently, Americans have only two reasonable options, and they're not crossovers – the Chevrolet Bolt and Tesla Model 3. The former is being phased out at the end of the year and replaced by a new Ultium-based generation, while the latter has been redesigned and is awaiting the official launch for the North American market.
We would've added the 2024 Hyundai Kona EV with its 260 miles of expected range and an estimated MSRP of $35,000, but it's not available yet. The Chevy and the Tesla can be ordered today, and customers will take delivery soon. Plus, the existing 2023 Hyundai Kona EV does not qualify for the EV tax credit and is not sold in all 50 states.
The Bolt comes with 259 miles of EPA-estimated range, while the entry-level Model 3 offers 272 miles of go on a single battery charge. Fisker's PEAR beats them in this category with an estimated range of 320 miles (when equipped with the bigger battery pack) and the possibility to seat three people in the front and three in the back.
It will do all that while being shorter than a 2023 VW Golf! The PEAR has a length of 179.1 inches, while the iconic German hatch measures 182.4 inches. The advantage of the Fisker, however, lies in a higher driving position, which is preferred by customers nowadays.
But let's see what pricing could look like stateside and over the pond.
Money talksIn the US, the MSRP is expected to start at $29,900. The price has been confirmed for the second time since the official launch, so we expect it to stick. Add a sales tax of 7.25% like the one in California (6% for the state, 1.25% minimum for the counties or cities), and the base price before any other fees or charges is $32,143.
The PEAR's price in Germany will be €32,900 ($35,247), per the company CEO's statement. It may seem higher at first, but that figure includes the value-added tax (VAT). It's sort of a US sales tax equivalent, but it's the same amount everywhere in the European country – 19%. As such, the "European MSRP" for the funky PEAR is €26,649 ($28,550).
Comparing the pre-tax prices according to the current exchange rates shows us that Germans would enjoy a Fisker PEAR that is $1,350 cheaper.
But Fisker promised the PEAR would qualify for the EV tax credit. Buyers eligible for the federal perk in 2025, when the unit is scheduled to arrive stateside, will see an MSRP of only $22,400. That's because they won't have to wait until 2026 to take advantage of it by filing taxes.
Don't get your hopes up just yetKeep in mind that the above figure is only an assumption for now. The brand hasn't finalized its deal with Foxconn, Fisker's expected contract manufacturing partner that owns Lordstown's former Ohio plant. The young EV marque is most likely still waiting to see the trial outcome between Foxconn and the defunct Lordstown.
Moreover, we don't know if Fisker's promise about making the PEAR eligible for the EV tax credit will hold. The company's certainly determined to succeed, but it's better to tread carefully than end up disappointed.
On top of all that, many states and even counties tackle the sales tax differently. We chose California as a broad example because it will allow car buyers to subtract the federal incentive from the taxable amount in 2024. Also, it's worth remembering that some states apply different implementations of the car sales tax when leasing or financing.
But let's get back to the PEAR's price because Germany has some incentives of its own, too. Today, the subsidy for an EV like the PEAR is €4,500 ($4,821). From 2024 onwards, that amount will be reduced to €3,000 ($3,214). That tells us the "European MSRP" should be €23,649 ($25,336). Add Germany's VAT, and the price for a base PEAR jumps to €28,142 ($30,150).
Thus, a base-spec 2025 Fisker PEAR will still be more expensive in Europe than in the US because of the higher tax rate. We'll see how it will fare against rivals in around two years and decide if all the current hype was worth it.