Fisker sells limited quantity of Ocean One: factory production almost ready

Fisker Ocean Big Sur Blue Matte at Rabbit Lake; electric slides, taken by Brian White

Fisker Inc. (NYSE: FSR) (“Fisker”) – a passionate creator of the world’s most durable electric vehicles and advanced mobility solutions – has sold two US-bound trim levels for its Fisker Ocean SUV: the 37 $4991 Fisker Ocean Sport and the $49,9991 Fisker Ocean Ultra. Last month, Fisker sold the $68,9991 Fisker Ocean One limited edition worldwide, securing $5,0002 deposits of 5,000 reservation holders in just 30 days.

Beginning November 18, 2022, the day after production begins, Fisker will begin taking orders for the Fisker Ocean Extreme in select global launch markets, followed by opening orders for the Ultra and Sport versions in Q1 2023. for other launch markets outside of the United States. .

Fisker Ocean reservations remain open for all markets.

In preparation for the passage of the Inflation Reduction Act of 2022 (IRA), Fisker began contacting US reservation holders on August 7. Fisker offered reservation holders the ability to proactively enter into a binding contract for the purchase of a Fisker Ocean by converting their $250 initial deposit and $100 second deposit to a non-refundable order. Fisker believes this binding contract allows the customer to retain eligibility for a $7,500 federal electric vehicle tax credit that becomes unavailable if the IRA is enacted.

This ordering system only remains in effect until the IRA is passed and enacted or it is finally decided otherwise. At that time, this order process will be closed. As mentioned above, Fisker plans to reopen the ordering process for the Fisker Ocean Extreme version on November 18, 2022.

“We acted quickly to preserve the ability of our eligible U.S. reservation holders to remain eligible for the current federal tax credit,” said Fisker Chairman and CEO Henrik Fisker. “We are very pleased that in addition to global Fisker Ocean One customers securing their vehicles, reservation holders in the United States who wanted a Fisker Ocean can lock in their purchase commitment. Our customers give us a huge vote of confidence before we start production on November 17th. Looking ahead to 2024, we are already exploring US manufacturing with the goal of making certain models eligible for the EV tax credit under the proposed new requirements. .”

Fisker is in talks with its production partner Magna, examining the possibility of increasing production of the Fisker Ocean in the second half of 2023, potentially releasing more Fisker Ocean Ultra and Sport versions for the US market towards the end of 2023.

Meanwhile, Henrik visited Magna Steyr’s carbon-neutral factory in Austria this week, where preparations are well advanced to start manufacturing the Fisker Ocean in November. He reviewed developments at the main assembly line, where a ramp-up to higher-volume production will begin in 2023. A highlight was a fully automated and robotic battery vehicle wedding station, where 26 bolts are attached in less than two minutes, securing the battery in place in the undercarriage.

Henrik also examined a group of pre-production prototype vehicles for technicians to perform further testing.

With less than 99 days until production begins, Magna and Fisker have established a “Mission Control” center where teams meet daily to ensure the highest quality manufacturing. Additional teams work on inbound parts logistics, vehicle handovers, port operations and outbound logistics to manage deliveries to customers in nine launch markets.

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