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Fisker Has a Plan for U.S. Ocean Buyers To Retain Tax Credit Eligibility

Fisker Automotive is proactively coming to the rescue of customers who hold reservations for their Fisker Ocean model that will go into production in November. Under legislation that is pending in congress, the $7,500 (7,367 euro) tax credit given to buyers of electric vehicles will not apply to vehicles made outside of North America.
Fisker Ocean 9 photos
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Under the plan, Fisker will offer binding sales contracts with qualifying U.S. Ocean Fisker reservation holders. The binding agreement could potentially retain the tax credit eligibility. Entering into an agreement will not require the buyer to commit to pay additional money to convert deposits to non-refundable orders.

The Inflation Reduction Act of 2022 narrowly passed the senate on Saturday (August 6) and will now be the subject of debate in the coming week. In the event it is signed into law by the president, the Austria-made Fisker Ocean will not be eligible for the tax credit. The bill also imposes an income threshold for eligibility;$150,000 (147,344 euro) for single filers and $300,000 (294,688 euro) for couples filing jointly.

It is a rather bold assertion to make that eligibility will be predicated on a binding sales agreement and not on taking delivery of the vehicle. They encourage reservation holders to contact a tax professional for advice.

Fisker chairman and CEO Henrik Fisker said, "Many of our reservation holders are looking forward to the tax advantages of purchasing an electric vehicle. Therefore, we acted swiftly and proactively to protect access to existing tax credits for qualifying Fisker Ocean buyers should the Inflation Reduction Act become law. We are focused on a clean future for all, so we are building the Fisker Ocean in one of the world’s most sustainable production facilities, Magna’s carbon-neutral factory in Graz, Austria."

He added, "Our reservation holders have given us a vote of confidence, with 5,000 recently committing $5,000 each to secure a Fisker Ocean One launch edition vehicle, so we need to do this work on their behalf to show that we have their best interests at heart."

Fisker will be converting the $250 (245.57 euro) deposits for the first reservation and $100 (98.23 euro) deposits for the second reservation to non-refundable orders. This order process will remain in effect until the bill is signed into law, at which time it will be closed.

Fisker confirmed production of the Manhattan Beach, California, designed and engineered five-passenger SUV will begin on November 17. The company plans to make 40,000-50,000 Fisker Ocean vehicles in 2023. In the U.S. the base Sport Fisker Ocean starts at $37,499 (36,835 euro), the Utra trim retails for $49,999 (49,113 euro), and the top trim Extreme is priced at $68,999 (67,777 euro).

 Download: Fisker Press (PDF)


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