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The electric car market is booming. The electric car market is dying. Simply search “electric cars” in Google today (3 April 2024) and you will see a variety of headlines ranging from the FT suggesting that the EV slowdown may not be a blip, the Telegraph indicating that the Tesla bubble has burst and the Daily Mail identifying why Americans do not want electric cars.
But you can also see the Independent recognising that Norway is heading to be the first country with more electric cars than petrol ones and a This Is Money article on the best electric cars to be excited about in 2024 (which includes the new electric Ford Explorer SUV!). All in all, an emotional roller-coaster for any diligent researcher.
At the heart of UK EV news is the situation with the Fisker group, who are currently undergoing some significant financial challenges. Founded by the Danish car designer, Henry Fisker, this brand is known for its Ocean SUV which was set to provide a refreshing and technologically proficient option to the UK’s leasing market.
And while the Ocean was finally delivered to a small selection of UK customers, the supply has certainly fallen short of demand.
Much of this is explained by the announcement in the US of some $463m losses for 2023 and the confirmation of liquidity issues. Indeed, talks with another carmaker, which was rumoured to be Nissan, did not proceed further. Stock trades have been halted on the New York Stock Exchange, with plans to delist the shares. But in an effort to keep momentum going, there is an understanding that outside partnerships and investment is being investigated still.
The manufacturer have also not cancelled their plans to move to a dealership-centric mode in the US or Europe either. From our perspective, it is never good to see any manufacturer struggle, especially when the product and ethics behind it seem to fit what the industry needs.
Not to add that the Ocean was one of the best looking and practical all-electric SUVs. In particular, the Extreme model was equipped with some fabulous specification and an exciting Hyper Range battery - SolarSkyRoof, Revolve 17” screen, digital rear view mirror, power liftgate, adaptive cruise control, front/rear heated seats, Fisker pulse audio, Smart Traction, Boost Mode, Limo Mode and Find My Fisker were all standard. Until further notice, the Fisker leasing deals section will stay live on our website.
But for the more risk-averse customer, the prospect of engaging with a manufacturer on the brink of bankruptcy may be less palatable. The good news is that one of the most hotly anticipated EVs of 2024 is finally making its way onto UK roads.
The All-Electric Explorer is now live on the Ford website for personal and business leasing customers to configure and price. Not too dissimilar to the Fisker Ocean in aesthetics, this functional and ergonomic BEV is aiming to combine iconic design, comfort and EV charging technology to create one of our key-sellers of this year.
And this is backed by one of the world’s largest and oldest brands - Ford, while sharing key EV infrastructure from the VW Group. As our website sets out the Ford Explorer 2WD Select and the AWD Premium are both ready for pricing / ordering. And a cheaper standard range RWD is set to hit the UK towards the end of 2024 too.
As our website sets out, the real world range, running costs (including electricity tariffs), charging capabilities, charging times and charge point locations are offered on each option. Add to that company car tax and P11d asessment for our fleet and salary sacrifice customers, and you have everything you need for making the right decision on your next green car.
For more information, just speak to our electric car experts directly.
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