American EV startup Fisker (NYSE:FSR) has established its headquarters in Hyderabad for initial operations in India. Local recruiting and hiring for the location are underway.
"Our expansion into India represents both a strategic market opportunity and a significant boost to our global engineering capabilities," Fisker Chairman and CEO Henrik Fisker said. "We have already started local hiring in India and expect our new team in Hyderabad to be fully operational and engaged on multiple product programs within weeks. Our talent pool in India will help us pave the way for the launch of Fisker Ocean and Fisker PEAR in India."
Fisker's new office in Hyderabad is the company's second headquarter globally. It will focus on software development, data analytics, and machine learning.
"In the global race for leading technical talent, we see our new operation in Hyderabad as a major strategic advantage," Mr. Fisker added. "I would also like to thank the State of Telangana for their support and enabling us to make a fast start as we set up our initial operations. We are excited to tap into the growing talent pool in India."
The release also mentioned that Fisker will commence production of the Fisker Ocean SUV on Nov. 17, 2022, at the carbon-neutral factory of Fisker's manufacturing partner, Magna Steyr, in Graz, Austria.
Fisker shares are down 23% year-to-date.
By Michael Elkins