Fisker to Partner With Bridgestone for Electric Vehicle Services and Solutions in France and Germany

Rhea-AI Summary

Fisker Inc. (NYSE: FSR) has partnered with Bridgestone to provide after-sales services in France and Germany for its upcoming Fisker Ocean SUV, launching production on November 17, 2022. Bridgestone's extensive network includes over 450 locations in France and 300 in Germany, ensuring comprehensive support for Fisker customers. This partnership underlines Fisker's asset-lite business model while enhancing its service capabilities, aimed at boosting the adoption of electric vehicles across Europe. The Fisker Ocean is priced at €41,560 in Germany and €41,900 in France, with an estimated range of up to 350 miles.

Positive

• Partnership with Bridgestone to enhance after-sales services for Fisker Ocean in France and Germany.
• Bridgestone's extensive service network includes over 450 locations in France and 300 in Germany.
• Production of Fisker Ocean will begin on November 17, 2022, aligning with market entry strategies.

Negative

• None.

• Bridgestone to provide total after-sales services for Fisker customers in France and Germany, consistent with the asset-lite business model being deployed across the Fisker business globally.
• Bridgestone to deliver support in France through select locations from their Speedy network at 450+ locations and in Germany at 300+ locations under their Pitstop and Reiff-ABS networks.
• In August this year, Fisker announced that Bridgestone had been selected as the exclusive tyre partner for the Fisker Ocean all-electric SUV that will be launched in several European markets during 2022 including France and Germany.

MUNICH & BRUSSELS--(BUSINESS WIRE)-- Fisker Inc. (NYSE: FSR) (“Fisker”) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today announced it has signed a Memorandum of Understanding (MOU) with Bridgestone – a global leader in tyres and rubber providing solutions for safe and sustainable mobility – to provide comprehensive after-sales and related maintenance solutions in France and Germany.

After recently selecting Bridgestone as the exclusive tyre partner for its upcoming Ocean all-electric SUV, Fisker is extending its collaboration with the global company. As part of this new partnership, and as an industry first, Bridgestone will leverage its EV-ready retail and service network to provide Fisker’s customers in France and Germany with extensive after-sales services throughout the Speedy, Pitstop and Reiff-ABS networks, all part of Bridgestone’s extended retail network in Europe.

After recently selecting Bridgestone as the exclusive tyre partner for its upcoming Ocean all-electric SUV, Fisker is extending its collaboration with the global company. As part of this new partnership, and as an industry first, Bridgestone will leverage its EV-ready retail and service network to provide Fisker’s customers in France and Germany with extensive after-sales services throughout the Speedy, Pitstop and Reiff-ABS networks, all part of Bridgestone’s extended retail network in Europe. Speedy includes over 450 locations throughout France, while in Germany, the combination of Pitstop and Reiff-ABS offers services at more than 300 locations across the country. Fisker will work with Bridgestone to select the most appropriate sites from its extensive service network in France and Germany to address Fisker’s customers’ needs and specificities.

Collaborating to provide better solutions

“From Nov. 17, 2022, we will start production and deliveries of the Fisker Ocean SUV, with France and Germany among the first European markets to launch,” commented Fisker Chairman and Chief Executive Officer, Henrik Fisker. “Our partnership with Bridgestone is being activated across multiple areas of our business and we have been consistently impressed with Bridgestone’s investment into the future of clean mobility and focus on innovative products and service solutions for the next generation of electric vehicles. The fact that Bridgestone offers unique end-to-end services and packages – including original equipment fitments, after-sales and mobility solutions to mobility players – is key. The ability to make use of their extensive network to provide our own after-sales servicing will be crucial to Fisker’s long-term success.”

Driving EV adoption through a fully integrated approach

“As part of our commitment to help shape a sustainable future of mobility, Bridgestone is supporting the adoption of EVs through a fully integrated approach. This includes the development of premium tyres and tyre technologies for EVs, along with dedicated fleet and mobility solutions,” said Laurent Dartoux, President and CEO, Bridgestone EMIA. “It also entails the development of an end-to-end EV-ready retail and service network, which includes EV maintenance and tyre services, EV charging and mobile services for EVs all together under one roof.”

“Fisker’s passion for sustainable innovation and their mission to make sustainable EVs more accessible aligns perfectly with our own goals,” adds Dartoux. “Partnering with innovators like Fisker is a key element to our approach and we are proud to put our strong footprint and all the capabilities of our EV-ready retail network at the disposal of their customers.”

Fisker will commence production of the Fisker Ocean SUV on Nov. 17, 2022, at the carbon-neutral factory of Fisker’s manufacturing partner, Magna-Steyr, in Graz, Austria. The Fisker Ocean, in Sport trim level, is priced (before local incentives) at €41,560 in Germany and €41,900 in France, will have an estimated range of 250 miles (EPA test cycle) / 275 miles or 440 kilometers (WLTP test cycle) and feature a sleek, stylish design, as well as innovative automotive technology and a sustainable interior made from recycled materials. The range-topping Fisker Ocean Extreme will deliver up to an estimated range of 350 miles (EPA) / 390 miles or 630 kilometers (WLTP). Fisker worked extensively with battery supplier CATL, using two different chemistries, to maximize performance and minimize cost for the Fisker Ocean lineup.

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 Bridgestone in Europe, Russia, Middle East, India, and Africa:

Bridgestone in Europe, Russia, Middle East, India, and Africa (Bridgestone EMIA) is the regional Strategic Business Unit of Bridgestone Corporation, a global leader in tyres and rubber building on its expertise to provide solutions for safe and sustainable mobility. Headquartered in Zaventem (Belgium), Bridgestone EMIA employs more than 20,000 people and conducts business in 40 countries across the region. Bridgestone offers a diverse product portfolio of premium tyres and advanced solutions, backed by innovative technologies, improving the way people around the world move, live, work and play. For more information about Bridgestone in EMIA, please visit www.bridgestone-emia.com and www.bridgestonenewsroom.eu. Follow us on Facebook, Instagram, YouTube and LinkedIn.

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 quotations of our Chief Executive Officer and statements regarding the planned start of production and MSRP of the 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 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/20211221005268/en/

Simon Sproule, SVP, Communications : +1.310.374.6177

Rebecca Lindland, Director, Communications

Liesbeth Denys, Director Public Affairs and Communications, Bridgestone EMIA: +32 478 78 26 22

Source: Fisker Inc.

FAQ

What is Fisker Inc.'s stock symbol?

Fisker Inc. trades under the stock symbol 'FSR'.

When will the Fisker Ocean start production?

Production of the Fisker Ocean will begin on November 17, 2022.

What markets will the Fisker Ocean launch in?

The Fisker Ocean will be launched in France and Germany, among other European markets.

What after-sales services will Fisker offer in Europe?

Fisker has partnered with Bridgestone to provide extensive after-sales services through their networks in France and Germany.

What is the estimated range of the Fisker Ocean SUV?

The Fisker Ocean is estimated to have a range of up to 350 miles.