(Reuters) – U.S. startup Fisker mentioned on Monday it might produce 100 restricted version electrical sports activities utility autos (SUVs) for the Indian market and expects to start deliveries within the fourth quarter this 12 months.

The firm had mentioned in September it might start promoting its Ocean electrical SUVs in India by July 2023, with native manufacturing starting in a number of years.

But it now expects to finish the ultimate checks for the SUV, named Fisker Ocean Extreme Vigyan, for India by the top of September, with its pricing aligning with the European market.

Fisker Ocean Extreme is priced at 69,950 euros ($78,588.83), excluding taxes, in Germany. That would equate to round 6.45 million Indian rupees. A Fisker Ocean SUV begins at $37,499 within the United States.

Electric autos (EVs) make up simply 1% of the three million vehicles bought every year in India, with the federal government wanting to extend this share to 30% by 2030. For this, the nation has launched a number of incentives, together with tax breaks for shoppers.

In India and throughout all areas outdoors China, the U.S. and Europe, EV gross sales are anticipated to characterize 2%-3% of automobile gross sales in 2023, a comparatively small but rising share, in keeping with information from International Energy Agency.

Fisker has a secondary workplace in Hyderabad, India, and has about 100 workers within the nation, in keeping with its LinkedIn web page.

The California-based firm has a contract manufacturing settlement with Magna International, which might produce the Ocean at its Austrian unit and ship it to India. Fisker additionally seems to supply its subsequent EV, the smaller, five-seater PEAR in India with Foxconn.

($1 = 0.8901 euros)

(1 Indian rupee = 0.0108 euros)

(Reporting by Akshita Toshniwal in Bengaluru; Editing by Shilpi Majumdar)