Fisker Announces Its Third Product, Project Ronin, an Innovative, High-Tech Electric GT Sports Car

• Project Ronin will be Fisker's third vehicle, following the Fisker Ocean and Fisker PEAR.
• The all-electric sport Grand Tourer will feature innovations such as a battery pack integrated with the vehicle's structure.
• Fisker is designing and engineering Project Ronin to deliver the longest range of a production EV with the ultimate in high performance.

LOS ANGELES--(BUSINESS WIRE)--Fisker Inc. (NYSE: FSR) ("Fisker") — passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions — has announced Project Ronin, the company's third vehicle after its Fisker Ocean SUV and Fisker PEAR.

"The aim is to achieve the world's longest range for a production EV, combined with extremely high levels of performance," CEO Henrik Fisker said. "Project Ronin will be a showcase for our internal engineering, powertrain, and software capabilities."

The code name was inspired by the film of the same title, with its famous car chases. Development of the Ronin concept started last year with the goal of creating a futuristic Grand Touring sports car suitable for long road trips while carrying four adults and their luggage.

Henrik Fisker's brief to the engineering team was to use the most advanced, lightweight materials and focus on range, performance, and overall driving experience. Project Ronin will feature active aerodynamic technologies and an innovative battery design, with the pack integrated into the structure of the vehicle.

The GT will feature unique doors for better ingress and egress and a luxurious, sustainable vegan interior that plots a new, advanced design direction. Fisker expects to reveal Project Ronin in August 2023, with production starting in the second half of 2024.

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 CEO, the statements regarding the planned reveal, start of production and range of Project Ronin, 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.