LOS ANGELES--(BUSINESS WIRE)--Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – has exceeded 40,000 initial reservations for the Fisker Ocean SUV. The company has indications that many reservation holders intend to purchase the Fisker Ocean One launch edition or Fisker Ocean Extreme models, both priced at $68,999* in the US.
As a result, Fisker will open pre-order reservations for purchase of the limited edition Fisker Ocean One SUV to current reservation holders on July 1, 2022. Fisker will manufacture 5,000 limited edition Fisker Ocean One vehicles, commencing in November 2022. Given the elevated level of interest in the Fisker Ocean One and Fisker Ocean Extreme, Fisker believes it will potentially sell out capacity through most of 2023 with purchase orders of our premium models.
“Our goal is to be completely transparent with our customers,” CEO Henrik Fisker said. “We don’t want reservation holders who expect to purchase a Fisker Ocean One to be disappointed, so we are providing them now with the opportunity to secure their vehicle.”
After the limited Fisker Ocean One production run concludes, Fisker will prioritize and manufacture all Fisker Ocean Extreme orders, with any additional capacity being then allocated to Fisker Ocean Ultra SUV and Fisker Ocean Sport SUV. Given the high degree of interest in the Fisker Ocean SUV premium models, it is likely that Fisker Ocean Sport production will not commence until late 2023, initially at modest volumes, with higher volumes expected in 2024.
In the event of reservation cancellations, some additional customers may be able to secure a build slot for a 2023 Fisker Ocean Extreme, depending on the order in which they place a reservation. Additionally, if Fisker can produce 50,000 or more vehicles in 2023, the company will explore logistics and supply-chain options to increase deliveries.
At this point in time, Fisker does not plan to raise prices for the Fisker Ocean in 2022 or 2023 but given the current rate of inflation and global market pressures in logistics and commodity costs, Fisker cannot guarantee pricing will remain static for vehicle orders received after the 40,000-reservation number or vehicles produced from 2024 onwards. It is customary for automakers to have yearly price increases, but as we start production in late 2022, our unique, asset-light business model should enable us to hold pricing steady through 2023.
All reservation holders will be informed of any price changes when they occur, via updates on our website prior to placing a pre-order and shall be entitled to a full refund of the reservation fee if they choose to not proceed with a pre-order at that time. Currently, customers may place a reservation for their first Fisker Ocean for $250 and $100 for a second vehicle.
*Pricing shown is for the continental US and excludes delivery, finance and government charges. Maintenance is not included. Pricing depends upon specifications and options chosen by you as you configure your actual vehicle closer to production. Pricing does not include various state and federal incentives and benefits which may be available to you. Learn more for your area by clicking HERE.
Photo credit: Michael Muller
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.
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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 planned start of production, range, and MSRP of the Fisker Ocean, the timing of pre-order reservation availability, Fisker’s plans to hold pricing static during 2022 and 2023, as well as Fisker’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-Kunder 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.
