Fisker Sees Continued Strength in Fleet Business as Companies and Operators Look to Zero Emission Solutions

LOS ANGELES--(BUSINESS WIRE)--Fisker Inc. (NYSE: FSR) (Fisker) – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles and advanced mobility solutions – today passed 14,000 reservations for its Fisker Ocean SUV, boosted by interest and orders from the fleet market globally. In Q4 last year, the company signed its first significant fleet order – for 300 vehicles - with Viggo, the technology-driven Danish ride-hailing service. Through the work of the Climate Group, over 100 of the world’s leading companies are making commitments to transition their fleets to EV by 2030, alone representing five million vehicles.

“We are encouraged by the interest being shown by the corporate sector towards enabling greater access to zero emission mobility,” said Fisker Chairman and Chief Executive Officer, Henrik Fisker. “As more and more consumers and businesses are making the transition to electric vehicles, we are ready to partner with forward-thinking companies as they catalyze the shift to electric vehicles.”

Fisker is projected to start production on its first vehicle, the Ocean electric SUV, in Q4 2022. The Fisker Ocean will initially be manufactured in Europe and sold across multiple markets in Europe and North America. The company also recently announced it has signed an MOU with Foxconn to develop a breakthrough electric vehicle, codenamed ‘Project PEAR’. Progress on defining the terms of the partnership and product program is on track to complete in Q2 this year.

“We are moving rapidly to enlarge the dedicated team working with Foxconn on Project PEAR,” added Mr. Fisker. “The prospect of a breakthrough electric vehicle at a sub-$30,000 price point is generating a lot of excitement and anticipation.”

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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 U.S. 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 Company's future performance under "2021 Business Outlook" 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 Registration Statement on Form S-1 (No. 333-249981) under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”) 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.