Fisker Updates Strategy for Canada Market – Fisker Ocean One Deliveries to Complete by End of September

Rhea-AI Summary

Fisker plans to bring the Fisker Ocean to Canada this fall, with most deliveries expected to be completed by the end of September. The company will establish retail and service locations in Vancouver and Toronto, provide mobile service options, and offer financing through Scotiabank. Test drives will be available in September.

Positive

• Most deliveries of the Fisker Ocean in Canada will be completed by the end of September
• Fisker plans to establish retail and service locations in Vancouver and Toronto
• The company will offer mobile service options and financing through Scotiabank
• Test drives of the Fisker Ocean will be available in September

Negative

• None.

• Fisker estimates most Canadian deliveries of the Fisker Ocean One SUV will be completed by end of September, following expected homologation by September 7^th.
• Fisker plans to establish retail and service locations in the Vancouver and Toronto areas.
• The company also plans to furnish Canadian customers with mobile service options and financing through Scotiabank, nominated as Fisker’s retail financing partner.
• Fisker plans to offer test drives of the Fisker Ocean in the Vancouver and Toronto areas in September.

LOS ANGELES--(BUSINESS WIRE)-- Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, has provided additional details on its strategy for the Canada market.

Fisker will bring the Fisker Ocean to Canada this fall. Image credit: Fisker Inc.

The company expects to complete homologation in Canada of the Fisker Ocean all-electric SUV, currently being delivered in the US and in European launch markets, by September 7th. Fisker estimates most launch-edition Fisker Ocean One vehicle deliveries in Canada will be finalized by the end of September.

“We have strong reservations and a solid bank of orders for the Fisker Ocean in Canada,” Chairman and CEO Henrik Fisker said, adding that the Vancouver and Toronto areas are leading in customer interest. “We have always planned to reach customers throughout North America and are excited to be completing that strategy. And we are especially grateful for the patience of our future Canadian owners as we have ramped up our business in 2023.”

The company intends to establish retail and service locations in both Vancouver and Toronto, as well as Fisker-certified collision-repair centers. The company also intends to provide comprehensive sales and service support in Canada, including mobile service with Fisker-trained technicians, and consumer financing through Scotiabank, Fisker’s nominated retail financing partner..

Fisker plans to offer pop-up test drive events in the Vancouver and Toronto areas in September, with more events to follow through the Fall.

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 quotation of our CEO, the statements regarding the planned launch timing, pricing, delivery, and estimated range of the Fisker Ocean, the planned timing of the opening of Fisker facilities, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230829198465/en/

European Media:

Press.europe@fiskerinc.com

US Media

Fisker@GODRIVEN360.com

Customer service: Support@fiskerinc.com

Fisker Inc. Communications:

Matthew DeBord

Sr Director, Communications Strategy & Storytelling

mdebord@fiskerinc.com

Franziska Queling

Regional Head of Public Relations Europe

fqueling@fiskerinc.com

Investor Relations:

Frank Boroch, VP of Investor Relations

fboroch@fiskerinc.com

Source: Fisker Inc.