Fisker Ocean in Demand: The company plans to expand production beyond 50,000 units per year as Sport and Ultra versions sell out in the US; Strong enthusiasm sets the tone for possible American manufacturing

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LOS ANGELES–(BUSINESS WIRE)–Fisker Inc. (NYSE: FSR) (“Fisker”) – passionate creator of the world’s most sustainable electric vehicles and advanced mobility solutions – announces that Fisker Ocean’s current production figures of 50,000 per year could increase in 2024 due to strong consumer demand from around the world.

In July 2022, Fisker Ocean ONE’s limited introductory edition of 5,000 units sold out worldwide in just 30 days, and the waiting list, should it become available, is over 1,000. base model Fisker Ocean Sport and the mid-level Fisker Ocean Ultra followed suit, with potentially binding orders for 2023 U.S. allocation for both versions sold out within days earlier this month. Fisker currently has more than 58,000 reservations (including firm orders) for the five-passenger all-electric SUV, with at least 80,000 reservations expected by the end of the year.

“The enthusiasm we are seeing around the world for the Fisker Ocean is nothing but a lesson in humility. Together with our partners at Magna, test vehicles roll off the production line at the carbon-neutral manufacturing facility in Graz, where we are working diligently to increase production figures beyond the current projection of 50,000 units per year,” said Fisker CEO and Chairman Henrik Fisker. We are also exploring expanding our operations to meet this growing demand, including considering manufacturing in the United States. And with our disciplined spending, strong cash position, extraordinary operational flexibility, strong relationships with our suppliers, and a diverse and high lineup of- I can’t wait to see the newest Fisker Ocean pre-production vehicles roll off the line. of production when I visit the Magna plant in September. »

Fisker continues to deliver and execute its business plan built on a foundation of operational excellence and a disciplined, deliberate financial strategy. Fisker’s strong balance sheet is characterized by a conservative capital structure, a robust liquidity profile, a strong cash position with $851.9 million in the bank at the end of the second quarter and a flexible model that allows rapid adjustment of expenses. Fisker confirmed its full year 2022 guidance on August 3, 2022, and on November 17, 2022, the planned start of production of the Fisker Ocean remains on track.

Top version Fisker Ocean Extreme travels 350 miles1 on a single charge, with dual motors, all-wheel drive, three drive modes, a 17.1″ rotating display with gaming HMI, SolarSky Roof, California Mode, Smart Traction and many never-before-seen safety features, including the first digital radar in the world, all for $68,9992.

The limited edition Fisker Ocean ONE builds on the Extreme trim, offering specific signature elements only available on the first 5,000 vehicles. In July 2022, the Fisker Ocean ONE sold out in 30 days, each guaranteed by $5,0003 deposit representing $350 million in potential revenue for Fisker once all vehicles are delivered.

With that momentum, Fisker is also making a splash at the Pebble Beach Concours d’Elegance this week, giving attendees and reservation holders the chance to see Fisker Ocean in person at the Concours Village. Fisker will also cruise the coastline in the Blue Planet Fisker Ocean test vehicle, hitting all the hotspots around the Pebble Beach festivities through Sunday, August 21, 2022.

Immediately following the Contest on the shores of the Pacific Ocean, the Fisker Ocean crosses the country to the Atlantic Ocean, taking on New York for the first time. Beachgoers in the Hamptons and Brooklynites in the city should keep an eye out for the Blue Planet Fisker Ocean test vehicle in and around the area August 26-28, 2022.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and environmentally friendly electric vehicles on Earth. Passionate about the vision of a clean future for all, the company is on a mission to become the leading provider of electric mobility services with the most sustainable vehicles in the world. To learn more, visit www.FiskerInc.com – and enjoy exclusive content on Fisker’s social networks: Facebook, Instagram, TwitterYouTube and LinkedIn.

Forward-looking statements

This press release contains forward-looking statements, which are subject to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “felt”, “believes” , expects, “estimates”, “projects”, “intent”, “should”, “shall be”, or the negative form of these terms, or other comparable terminology and include, among other things, the possibility of increase Fisker Ocean annual production, Fisker Ocean manufacturing potential in the United States or other key regions, quotes from our CEO, statements regarding the expected launch schedule, price and estimated range of Fisker Ocean, the company’s future performance and other future events involving risks and uncertainties. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to numerous factors, including, but not limit: Fisker’s limited operating history; Fisker’s ability to enter into additional manufacturing and other contracts with Magna or Tier 1 suppliers to execute its business plan; the risk that OEMs and supplier partners may not meet agreed deadlines or experience capacity constraints; Fisker may experience significant delays in the design, manufacturing, regulatory approval, launch and financing of its vehicles; Fisker’s ability to execute its business model, including market acceptance of its planned products and services; Fisker’s inability to retain key personnel and hire additional personnel; competition in the electric vehicle market; Fisker’s inability to develop a sales distribution network; and the ability to protect its intellectual property rights; and the factors discussed in Fisker’s Annual Report on Form 10-K, under the heading “Risk Factors”, filed with the Securities and Exchange Commission (the “SEC”), supplemented by the Quarterly Reports on Form 10-Q , and other reports and documents Fisker files from time to time with the SEC. All forward-looking statements speak only as of the date they are made, and Fisker undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

1 Based on Fisker simulations. Actual results will vary depending on conditions such as outdoor environment and vehicle usage. Official EPA and WLTP rankings are coming soon

2 Prices shown are for the continental United States and exclude delivery, finance and government charges. Maintenance is not included. Pricing depends on specifications and options chosen by customers when configuring the actual vehicle closer to production. Prize does not include various state and federal incentives and benefits that may be available.

3 Or equivalent in local currency



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