“75 and more for 55 and less”: Fisker calls for changes in EV incentives

“75 and more for 55 and less”: Fisker calls for changes in EV incentives

Fisker Inc. (NYSE: FSR) (Fisker) – passionate creator of the world’s most sustainable electric vehicles and advanced mobility solutions – marked World Earth Day with a call to action regarding federally funded clean vehicle incentives: a new program termed “75 And More For 55 And Less,” which encourages adoption of clean energy mobility powered by sophisticated automotive technology developed in America for use around the world.

Related to the current U.S. administration’s policy initiatives, Fisker is calling upon the federal government to implement “75 And More for 55 And Less”: a rebate of $7,500 plus $10.00 per mile of certified driving range for BEVs priced at $55,000 and less. All rebates would be applied at the time of sale, instead of waiting for a tax credit.

“We are at an inflection point in our transition to low-carbon mobility,” said Fisker Chairman and Chief Executive Officer, Henrik Fisker. “Just as the federal highways program in the 1940s and 1950s enabled a new era for the private car, we now have the opportunity, between the government and business, to accelerate adoption of electric vehicles and ensure the United States is at the forefront of this global shift.” 

Under the Fisker proposal, an electric vehicle priced at $45,000, powered by a certified 300-mile range battery, would receive a point-of-sale rebate of $7,500 – and an additional $3,000 for the battery range for a total of $10,500, lowering the transaction price to $34,500. This is significantly less than the current average cost of a new car at $40,000.