The 2023 Fisker Ocean electric crossover is getting a series of massive price cuts in the United States, the company said in an email.

The American EV startup reduced the selling price of the Ocean's most expensive trim, known as the Extreme, by $24,000, while the entry-level version now carries an MSRP of just $24,999, effectively making the Ocean the cheapest new EV in the U.S., undercutting the Nissan Leaf by more than $3,000.

The Fisker Ocean Sport, which is the model's most affordable trim level, saw its MSRP drop by $14,000. The next trim, known as the Ultra, is now priced from $34,999, down from the previous $52,999.

The most expensive model, the Ocean Extreme, starts at $37,499, a $24,000 drop from the previous $61,499 price. We imagine that people who paid the full sticker amount for the startup's first EV won't be too happy about this decision.

Fisker mentions that all the cars that have had their prices reduced are 2023 models that come with the company's latest software version, V2.0, installed and ready to go. Furthermore, some cars have additional options, such as exterior colors and 22-inch wheels, that add up to $7,000 over the starting price. The price cuts go into effect Friday, March 29, 2024.

In other words, these are inventory vehicles. The California-based startup has around 4,700 cars in inventory, with roughly 1,300 of them being built in 2024, while the rest were built last year.

Currently, the production of the Fisker Ocean at the Magna plant in Austria is on pause as the EV startup switched its focus to simply keeping the lights on. Its finances are in rough shape, about half the cars it ever made are sitting in inventory, and a deal with Nissan that was supposed to breathe new life into the company fell through a few days ago.