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Fisker Achieves Manufacturing Milestones Before November Start of Production of All-Electric Fisker Ocean
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Fisker Inc. (NYSE: FSR) has successfully produced 95 prototype Fisker Ocean SUVs through its manufacturing partner, Magna Steyr. These prototypes will be utilized for testing, marketing, and training purposes. CEO Henrik Fisker expressed satisfaction with the vehicle quality and improved production line speed during a recent plant visit. Fisker aims to prepare its teams for the official launch of the all-electric SUV, which is set for November 17, 2022. Currently, Fisker has over 60,000 reservations, including 5,000 sold-out Fisker Ocean Ones.
Positive
95 prototypes of the Fisker Ocean have been produced, indicating progress towards production goals.
Over 60,000 reservations for the Fisker Ocean, showing strong market interest.
Negative
None.
To date, Fisker's production partner Magna Steyr has produced 95 prototypes of the Fisker Ocean SUV.
Fisker will use these vehicles for testing, marketing, service, and manufacturing training.
After a visit to the plant, the quality of vehicles and improved production line speed impressed Fisker CEO Henrik Fisker.
LOS ANGELES--(BUSINESS WIRE)--
Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – is achieving manufacturing milestones as 95 prototype Fisker Oceans have already rolled off partner Magna Steyr's production system. Fisker will use the early-run vehicles to train service workers, conduct rigorous testing, and showcase the five-passenger, all-electric SUV across nine launch markets.
Fisker CEO Henrik Fisker inspects prototype all-electric Fisker Ocean at Magna Steyr production facility in Graz, Austria. Magna produced 95 prototype vehicles for marketing, service and manufacturing training. (Photo credit: R. Reiter)
"It's fantastic to see the quality of the Fisker Oceans currently being manufactured, and to also see them incrementally improving on every visit," Chairman and CEO Henrik Fisker said. "It's rewarding to observe the continuous improvements to manufacturing speed on the assembly line. Our marketing and service teams are thrilled to get their hands on cars before the official production starts so they can thoroughly prepare for deliveries and promote the Fisker Ocean in our launch markets. This phase of assembly marks the onset of improvement and refinement for start of production and through ramp-up."
Fisker continues developing its retail network, constructing Fisker Lounges in Los Angeles and Munich and Fisker Center+ locations in Copenhagen and Vienna, with plans for additional Lounges and Center+ spots in other key cities. In addition, the company's industry-leading warranty will be supported by service centers throughout its nine launch markets, offering at-home vehicle pick-up or Fisker Mobile Service for customers who prefer skilled technicians to come to them.
The Fisker Ocean, the ground-breaking five-passenger all-electric SUV, is available in four trim levels: One (limited edition), Extreme, Ultra, and Sport. The top trims of Fisker Ocean One and Fisker Ocean Extreme travel 350 miles (U.S.) 1 on a single charge, with dual-motor, all-wheel-drive, three driving modes, Revolve 17.1" rotating screen, SolarSky roof, California Mode, Smart Traction, all for $68,9992 in the U.S. As of today's release, Fisker has over 60,000 reservations and orders for the Fisker Ocean, including 5,000 sold out Fisker Ocean Ones, each secured by a $5,0003 deposit.
Fisker is on target for a start of production on November 17, 2022. Prior to SOP, Fisker will bring the Fisker Ocean to the Paris International Motor Show (Mondial de l'Auto) from October 17-23, 2022, and the Oslo Motor Show from October 28-30, 2022.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.
Download the revolutionary new Fisker mobile app from the App Store or Google Play store.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," or the negative of such terms, or other comparable terminology and include, among other things, the quotation of our CEO, the statements regarding the planned launch timing, pricing and estimated range of the Fisker Ocean, the anticipated timing of deliveries of the Fisker Ocean, the Company's future performance and other future events that involve risks and uncertainties. Such 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 many factors, including, but not limited to: Fisker's limited operating history; Fisker's ability to enter into additional manufacturing and other contracts with Magna or tier-one suppliers in order to execute on its business plan; the risk that OEM and supply partners do not meet agreed upon timelines or experience capacity constraints; Fisker may experience significant delays in the design, manufacture, 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 to 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 those 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"), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Fisker files from time to time with the SEC. Any forward-looking statements speak only as of the date on which 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 utilizing EPA standards. Actual results vary with conditions such as external environment, wheel size and diameter, and vehicle use. Official EPA and WLTP ratings forthcoming.
2 Pricing shown is for the continental U.S. and excludes delivery, finance, and government charges. Maintenance is not included. Pricing depends upon specifications and options chosen by customers as they configure the actual vehicle closer to production. Pricing does not include various state and federal incentives and benefits which may be available.
3 Or local currency equivalent.
