Fisker has said it will not raise the prices of its Ocean full-electric model, despite hikes in the cost of raw materials.
Instead, the automaker will rely on creating revenue streams by offering over-the-air upgrades to its customers after they purchase the SUV.
CEO Henrik Fisker made the pledge on sticker prices last week following the outcry over the price-hike and subsequent partial climbdown announced by fellow U.S. EV start-up Rivian.
Rivian said it was raising the prices of the R1T pickup and R1S SUV by 17 percent to 20 percent in the U.S. to absorb the rising cost of raw materials and parts, before agreeing to roll back prices for those who have already reserved cars.
The cost of raw materials and parts prices such as computer chips have been rising steadily since demand returned following the COVID-19 pandemic.
Russia's invasion of Ukraine and the subsequent sanctions imposed on Russia have caused prices to further spike.
Fisker stood by those prices. "We are a digital mobility company with a vehicle OTA [over the air] lifetime business model. We do NOT need to increase our prices at launch or right after," Henrik Fisker wrote on Twitter on Friday.