Fisker on Monday announced a $7,500 price cut for the top Extreme grade of its 2024 Ocean electric SUV, but prices for other versions saw small increases.

Pricing for the dual-motor all-wheel drive Ocean Extreme now starts at $61,499 before destination instead of the previous $68,999. Customers who already placed orders will receive a $7,500 price adjustment, Fisker confirmed in a press release.

In the same release, Fisker also confirmed price increases for the base Sport and mid-level Ultra models effective Nov. 6, when 2024-calendar-year orders for all trim levels open. From that date, the Sport will start at $38,999 instead of the previous $37,499, while the Ultra will start at $52,999, up from the current $49,999. The previous, lower pricing remains in effect for all orders completed by Nov. 5.

U.S. deliveries of the Ocean started in June for the 2023 model year. That was about a month after European deliveries started, and roughly seven months after the start of production at contract manufacturer Magna’s facility in Graz, Austria. Fisker subsequently pointed to supplier issues as the reason behind the slow production ramp-up.

Fisker Ocean

The Ocean Extreme was EPA-rated at 360 miles of range with its standard 20-inch wheels for the 2023 model year. Fisker now expects the single-motor Sport and dual-motor Ultra to achieve 231 miles and 350 miles, respectively. The Sport uses LFP battery chemistry, while the Ultra and Extreme use NMC chemistry.

Fisker said that swappable batteries are coming to the Ocean next year, with the aim of targeting affordability for commercial fleets. On the retail side, Fisker is targeting a $29,900 base price for its entry-level Pear, which it hopes to launch in 2025. Fisker had said the Pear would be manufactured by Foxconn in Ohio, but as of August the deal reportedly hadn’t been finalized.