Fisker Inc. Set to Join Russell 3000® Index on June 28

Rhea-AI Summary

Fisker Inc. (NYSE: FSR) will join the Russell 3000® Index on June 28, enhancing its visibility and attracting institutional investment. This inclusion marks a milestone following Fisker’s public listing in October. The Russell 3000® Index comprises large and small-cap stocks and serves as a benchmark for approximately $10.6 trillion in assets. CEO Henrik Fisker emphasized the company's commitment to sustainable electric vehicles, with plans to launch four models by 2025 and aiming for a 100% climate-neutral vehicle by 2027.

Positive

• Inclusion in the Russell 3000® Index boosts visibility and potential institutional investment.
• Fisker plans to launch at least four new electric vehicle models by 2025.
• Company aims for a 100% climate-neutral vehicle by 2027.

Negative

• None.

Fisker Inc. (NYSE: FSR) (“Fisker”) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – will join the broad-market Russell 3000® Index on June 28, after the U.S. market opens, according to a preliminary list of additions posted June 18.

Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index – as well as the appropriate growth and value style indexes.

“Inclusion in the well-known Russell indexes is another important milestone for our company following our public listing last October,” stated Fisker Inc. Chairman and Chief Executive Officer, Henrik Fisker. “Fisker has the right strategy to design, develop, produce and deliver innovative electric vehicles for a rapidly expanding global market in a capital-efficient way. Our brand is focused on design, a seamless ownership experience and sustainability, including our recently announced aim to bring a 100% climate-neutral vehicle to market by 2027. Our plan is on track to launch at least four new vehicles into the market before 2025. I believe this strategy will make us the fastest growing pure EV maker over the next four years.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

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.

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.

Forward-Looking Statements

This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the US 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 Chief Executive Officer and statements regarding the Company’s strategy 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 other OEMs 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, as amended, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005514/en/

FAQ

When will Fisker Inc. join the Russell 3000® Index?

Fisker Inc. will join the Russell 3000® Index on June 28, after the U.S. market opens.

What is the significance of Fisker being included in the Russell 3000® Index?

Inclusion in the Russell 3000® Index enhances Fisker's visibility and access to institutional investment, impacting its stock performance.

How many new vehicles is Fisker planning to launch before 2025?

Fisker plans to launch at least four new electric vehicles into the market before 2025.

What is Fisker's climate initiative for its vehicles?

Fisker aims to bring a 100% climate-neutral vehicle to market by 2027.

How much in assets is benchmarked against the Russell indexes?

Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes.