How Fisker Ocean Owners Became Their Own Automotive Company

After Fisker Automotive declared bankruptcy, owners of the Fisker Ocean took matters into their own hands to ensure their electric vehicles stayed on the road.

The Dream Unravels

Cristian Fleming invested around $70,000 in his ideal vehicle, the Fisker Ocean, impressed by its 350-mile range, eco-conscious design, and unique 'California Modes' feature that rolled down all windows simultaneously. Driven by aesthetics, Fleming admits, 'I may have put looks first and foremost, and perhaps that was the misstep.' Sadly, joy was short-lived.

In an unfortunate turn in June 2024, just seven months post-purchase, Fisker dissolved, leaving only 11,000 vehicles delivered. Initial owners faced myriad issues from battery malfunctions to faulty software, finicky key fobs, and unresponsive door handles, all without company support. With no access to replacements, some top-of-the-line models languished unused.

A United Front

Refusing to abandon their investments, Ocean owners formed a cooperative endeavor reminiscent of a start-up. The Fisker Ocean Association (FOA) emerged as a nonprofit, innovating third-party applications, designing a global supply chain for components, and building a protective network around their vehicles. Today, Fleming steers the association as president.

Treasurer Clint Bagley from California’s Bay Area explains, 'Every car owner treasures their Ocean. But, challenges arise when key fobs malfunction, barring entry to the car.'

An Innovative Approach

FOA labels itself as the first owner-operated EV fleet. With 4,055 members contributing $550 annually, they anticipate generating $3 million, a sliver of Fisker's former worth. While full membership is reserved for verified Ocean owners, support through donations is open.

Echoing past vehicle enthusiast communities like DeLorean and Saab, FOA’s mission is forward-focused, enhancing a connected, relatively modern EV fleet with timely software and hardware solutions.

Andrew Bock, another FOA member, shares, 'From being a lifelong car fanatic to shaping the future of a vehicle I’m passionate about – it’s an unmatched journey.'

Three entities stemmed from this organization: Tsunami Automotive and Tidal Wave manage parts in North America and Europe respectively, often acquiring from insurance auctions and collaborating with tooling manufacturers. Meanwhile, UnderCurrent Automotive, driven by ex-Google and Apple engineers, tackles the software frontier.

UnderCurrent's flagship app, OceanLink Pro, used by more than 1,200 enthusiasts, reactivates essential features like remote monitoring and climate controls. It partners with OceanLink Pulse, a device adding wireless CarPlay and Android Auto functionalities, with plans for future expansions including keyless entry.

Bagley comments, 'These capabilities are expected in a luxury EV valued at $70,000. Yet, we’re delighted to offer what the original manufacturers could not.'

The Road Ahead

Auto experts have mixed predictions about FOA's viability.

Seth Goldstein, an analyst at Morningstar, observes, 'For owners dealing with a defunct EV manufacturer, forming an entity like FOA to pool resources is sensible, aiding maintenance and upgrades.'

Critics within note failures in Fisker’s management, including its founder, to sustain an efficient business while delivering a commendable product.

Robby DeGraff from AutoPacific reflects, 'Observing owners banding together to conceive solutions independently of Fisker is extraordinary. The abandonment by Henrik Fisker and the leaving of thousands of Ocean owners to self-manage is disheartening.'

Facing Challenges

FOA faces significant hurdles, particularly from financial valuation drops. CarGurus reports a steep 40% depreciation post-bankruptcy. Lawyer Karl Barth notes, some vehicles deactivate abruptly, affecting trade values, some as low as $3,000.

Barth emphasizes, 'That's a safety hazard,' referencing a recall for brake software needing modification for enhanced safety after hitting road obstacles, impacting nearly 7,745 cars.

Potential remains, as seen when American Lease, a taxi service, acquired over 3,200 Oceans to rent out for Uber and Lyft operations, initially exploring software partnerships with FOA, though relations stalled over recall concerns.

Requests for feedback from Fisker and American Lease went unanswered.

Despite challenges, FOA remains hopeful about uncharted paths forging their future. Whether a volunteer group can achieve what a highly-funded startup didn’t, remains uncertain.

The Ocean's future is tethered to its owners' determination to succeed where Fisker faltered, maintaining vehicular operationality. In case of FOA's failure, Bagley fears comparisons to the infamous Fyre Festival – substituting subpar accommodations for a high-end EV with precarious reliability.