Fisker to sell 100 limited edition Ocean electric SUVs in India

American electric vehicle startup, Fisker (NYSE:) announced Monday their plans to produce 100 limited edition Fisker Ocean Extreme Vigyan electric SUVs for the Indian market and expects to begin deliveries in the fourth quarter this year.

The company initially announced its plans to launch the Ocean electric SUVs in India by July 2023 back in September and anticipated commencing local production in the following years. However, the company now aims to conclude the final checks for the Ocean Extremes variant for India by the end of September. Pricing for the SUV will align with the European market, offering consistency across regions.

The California-based company has entered into a contract manufacturing agreement with Magna International (NYSE:). According to the agreement, Magna International’s Austrian unit will be responsible for producing Fisker’s electric vehicle, the Ocean, and shipping it to India. Additionally, Fisker plans to collaborate with Foxconn (TW:) to manufacture its upcoming electric vehicle, the PEAR, in India. The PEAR is designed to accommodate five passengers and will be smaller in size compared to the Ocean.

Shares of FSR are up 4.57% in mid-day trading on Monday.