Fisker Leadership to Attend National Automobile Dealers Association Show as Company Makes Strategic Shift to Dealer Partnerships

Rhea-AI Summary

Fisker Inc. announces strategic shift to dealer partnerships from direct sales to scale for Fisker Ocean deliveries and future models. CEO Henrik Fisker to share plans at NADA Show in Las Vegas. Over 100 dealers in North America and Europe express interest in the new model.

• Fisker to share its plans with NADA attendees on Friday, February 2.
• CEO Henrik Fisker to be interviewed by NADA SVP Jonathan Collegio.
• Fisker has over 100 dealers in North America and Europe who have expressed interest in signing up for the new Dealer Partnership model.
• On January 4, Fisker announced a strategic shift to dealers from direct sales to significantly scale for Fisker Ocean deliveries and higher volume production of additional future models.
• Fisker expects to deliver its first vehicles to dealers in February.

LOS ANGELES--(BUSINESS WIRE)-- Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, announced today that several top executives, including Chairman and CEO Henrik Fisker, will attend the annual National Automobile Dealers Association Show in Las Vegas, held from February 1-4, 2024.

Fisker Inc., driven by a mission to create the world’s most emotional and sustainable electric vehicles, announced today that several top executives, including Chairman and CEO Henrik Fisker, will attend the annual National Automobile Dealers Association Show in Las Vegas, held from Feb. 1-4, 2024. On Friday, Feb. 2 at 3:30 PM in the Las Vegas Convention Center’s West Hall concourse, Fisker will share the new Dealer Partnership strategy and company plans to scale and expand its retail and service network with dealers. Henrik Fisker will then join NADA Senior Vice President Public Affairs Jonathan Collegio for a livestreamed interview. Dawn Ahmed, Fisker SVP, Global Marketing, Sales & Service and Amira Aly, VP, Marketing, Sales, & Financial Services US will also attend the NADA Show, representing the company. (Photo: Fisker Inc.)

“As we execute our new Dealer Partnership strategy, I couldn’t be more excited to meet with dealers and experience their enthusiasm for the Fisker brand and the award-winning Fisker Ocean SUV,” Henrik Fisker said. “With over 100 dealers in North America and Europe who have already expressed interest in becoming a partner, Fisker has shown it has much to offer with our unique features and class-leading range, as well as striking, sustainable design. I also believe we will generate more cash with our dealer model than selling direct.”

On Friday at 3:30 PM in the Las Vegas Convention Center’s West Hall concourse, Fisker will share the new Dealer Partnership strategy and company plans to scale and expand its retail and service network with dealers. Henrik Fisker will then join NADA Senior Vice President Public Affairs Jonathan Collegio for a livestreamed interview. Dawn Ahmed, Fisker SVP, Global Marketing, Sales & Service and Amira Aly, VP, Marketing, Sales, & Financial Services US will also attend the NADA Show, representing the company.

On January 4, 2024, Fisker announced that it would engage in a strategic shift from direct sales to customers in North America to an innovative Dealer Partnership model. The model combines the goal of offering its customers no-haggle pricing on Fisker vehicles (where permitted) while also providing its dealer partners with larger market territories, so they can maintain pricing without concern for local competition. The transition is aligned with Fisker’s asset light business model, which enables the company to significantly scale for Fisker Ocean deliveries and higher volume production of additional future models. The company has been in advanced discussions with numerous potential dealers and expects to deliver its first vehicles to dealers in February.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by designing and developing individual mobility in alignment with nature. Passionately driven by a vision of a clean future for all, the company is on a mission to create the world’s most sustainable and emotional electric vehicles. To learn more, visit 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 .

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 quote from our chief executive officer, any potential future automotive original equipment manufacturer (or equipment or part manufacturer) transactions 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240126861880/en/

European Media:

Press.europe@fiskerinc.com

US Media

Fisker@GODRIVEN360.com

Customer service: Support@fiskerinc.com

Fisker Inc. Communications:

Matthew DeBord

VP, Communications

mdebord@fiskerinc.com

Franziska Queling

Regional Head of Public Relations Europe

fqueling@fiskerinc.com

Investor Relations:

Eric Goldstein

Head of Investor Relations

egoldstein@fiskerinc.com

Source: Fisker Inc.

FAQ

What is Fisker's ticker symbol?

Fisker's ticker symbol is FSR.

When will Fisker deliver its first vehicles to dealers?

Fisker expects to deliver its first vehicles to dealers in February.

What is the new Dealer Partnership model announced by Fisker?

Fisker announced a strategic shift from direct sales to an innovative Dealer Partnership model to significantly scale for Fisker Ocean deliveries and higher volume production of additional future models.

Who will be interviewed at the NADA Show?

CEO Henrik Fisker will be interviewed by NADA SVP Jonathan Collegio at the NADA Show.

What is the mission of Fisker Inc.?

Fisker Inc. is driven by a mission to create the world’s most emotional and sustainable electric vehicles.