Fisker Announces Global Brand Experience Center Roll Out Strategy

July 21, 2021 at 17:07 PM EDT

Multiple locations in the U.S. and Europe confirmed for 2022, with inaugural center opening in Los Angeles in the first half of next year.
Experience centers will offer a range of consumer product shopping experiences.
Fisker Ocean will debut at Los Angeles Auto Show in Nov. 2021.

Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today announced details for the first wave of its global brand experience centers. Starting in the first half of 2022, the company will open its inaugural center in Los Angeles, followed by a European center in Munich. Fisker Brand Experience Centers will offer prospective customers the opportunity to see and experience the company's vehicles, as well as speak with product experts on hand.

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Following Los Angeles and Munich, the company plans to open at least four additional centers in London, New York, Miami and Copenhagen through the second half of 2022. The Fisker Ocean will make its global debut at the upcoming 2021 LA Auto Show in November, with production starting Nov. 17, 2022. Production prototype testing will begin this year.

"With less than 500 days to run before we start on-time production of the Fisker Ocean, we are simultaneously focused on crafting our customer journey," said Fisker Chairman and CEO, Henrik Fisker. "Our brand experience centers will be the primary physical touchpoint for the majority of our prospective customers. Our global rollout plans are focused on the largest metropolitan areas for electric vehicle adoption – and where we can meet the greatest number of our reservation holders."

The Fisker Ocean will enter the U.S. market at a starting MSRP of $37,499 (excluding EV-related subsidies) and below €32,000 in Germany (including taxes and EV-related subsidies), offering compelling, high-value option packages to customers across the Ocean's entire price range.

Including fleet orders from companies such as Credit Agricole Consumer Finance, Onto and Viggo, Fisker has more than 62,000 hand-raisers and 17,300 paid reservations for the Ocean. The Fisker reservation system, accessed via the Fisker App and Fisker website, was set up in late 2019, enabling prospective customers to place a vehicle reservation with the flexibility to cancel at any time. Each vehicle reservation requires a $250 deposit with a 10% charge ($25) to cover third-party and administrative costs in the event of a cancellation.

“Our reservation and order process was designed from the outset to be transparent, to prioritize quality over quantity and to ensure our stakeholders have confidence in the commitment of our reservation holders,” added Mr. Fisker. “As we get closer to launch, we will be working with our prospective owners to transition their reservations into contracted orders. We have many loyal supporters of the company waiting for their Ocean, and the reservation system is purposely designed to be fair to those who reserve with the intention to ultimately take delivery.”

Fisker Inc. is an American electric vehicle company headquartered in California and publicly traded on the New York Stock Exchange under the FSR ticker symbol. The co-founders are the largest shareholders, with the majority of the shareholder base located in the United States.

Fisker Inc. has the stated aim to lead on Environmental, Social and Governance (ESG) – and to produce the world’s most sustainable vehicles.

For more information or interview inquiries, contact Fisker@GoDRIVEN360.com.

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 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.