Tuesday, October 4, 2022

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Fisker makes a save

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Photo by CHUTTERSNAP on Unsplash

When the 2022 Inflation Reduction Act was approved, people who buy non-North America-made electric vehicles will be ineligible for the $7,500 federal tax credit for EVs. In addition, those who have reserved non-North America-made EVs coming out from 2023 will also be affected, including the over 40,000 Fisker Ocean U.S. reservation holders.

But Fisker (NYSE: FSR) has acted fast, and CEO Henrik Fisker announced that its reservation holders for the Fisker Ocean could convert their reservation deposits into orders to retain access to the current tax credit. Fisker is building the Fisker Ocean in the Magna carbon-neutral factory, one of the world’s most sustainable production facilities, in Graz, Austria.

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