- Fisker completed testing and met all applicable US Federal
Motor Vehicle Safety Standards (FMVSS) for the Fisker Ocean
SUV
- Fisker is also pursuing official EPA and CARB certifications
for its Fisker Ocean Extreme SUV
- The company expects full European regulatory type approval in
late April, with deliveries in Europe to follow
- Fisker engaged a dual-homologation strategy for Europe and the
US to capitalize on market demand
Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to
create the world's most emotional and sustainable electric
vehicles, announced today the Fisker Ocean completed and met all
applicable FMVSS testing required for US National Highway Traffic
Safety Administration (NHTSA) self-certification and meets New Car
Assessment Program (NCAP) standards for a 5-star rating. Fisker
utilized an internationally recognized agency to carry out the
testing.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230406005214/en/
Fisker completes all applicable FMVSS
testing for Fisker Ocean SUV. Company awaiting official EPA
certification for U.S. range. (Photo: Business Wire)
"Fisker engineered the structure of the Fisker Ocean to achieve
a five-star crash rating according to the NCAP," said Chairman and
CEO Henrik Fisker. "An official five-star rating will now be
possible should NHTSA select a Fisker Ocean for testing."
The Fisker Ocean recently received WLTP certification in Europe
of 707 km/440 miles (UK)1 for its Extreme trim level with 20”
wheels, the longest range of any battery-electric SUV currently on
sale in Europe. Fisker expects full European regulatory approval by
the end of April, with customer deliveries to follow.
The carmaker is pursuing an official Certificate of Conformity
(CoC) with the Environmental Protection Agency (EPA) to validate
the Fisker Ocean Extreme range. Fisker provided the agency with a
complete vehicle description and range test data recorded during a
rolling road test at an independent, third-party test laboratory.
The company is also pursuing a California Air Resources Board
(CARB) certification in California and 17 other jurisdictions in
the US.
Fisker anticipates the EPA will confirm the estimated 350-mile
range2 for the Fisker Ocean Extreme. However, Fisker is waiting for
the agency to provide a firm date for the certification. In the
meantime, Fisker is utilizing its dual-homologation approach for
Europe and the US, with European deliveries preceding North
America.
In the first quarter, Fisker changed its strategy of building
300 vehicles to avoid holding inventory that the company could not
deliver in Europe or the US. Fisker built some units for internal
use to maintain production readiness.
The company intends to ramp up production on April 20, 2023, for
vehicles planned for European delivery. Units destined for the US
will have a separate ramp-up, estimated to start the first week of
May, with those vehicles ready to ship ahead of EPA approvals.
"This strategy ensures we can maintain a steady production ramp
and have a sufficient quantity of vehicles ready for initial
deliveries in Europe and the US while avoiding the cost of vehicle
storage until approvals arrive," Henrik Fisker said. "Homologating
simultaneously places an extra workload on our teams, but we are
utilizing the benefits of an agile organization by
opportunistically shifting our plans and delivering vehicles in
Europe first. I appreciate the patience of our reservation holders
and am excited to get vehicles in the hands of our customers."
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 the
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 CEO, the
statements regarding the planned launch timing, pricing and
estimated range of the Fisker 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 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.
1 This WLTP range number applies to Fisker’s European markets.
WLTP measurements conducted on Fisker Ocean Extreme with standard
20” wheels. Actual range will vary with conditions such as external
environment, vehicle configuration, wheel size and diameter, and
vehicle use. Fisker expects EPA range figures for the US market to
follow shortly.
2 Based on Fisker simulations utilizing EPA standards. EPA
measurement simulations conducted on Fisker Ocean Extreme with
standard 20” wheels. Actual results vary with conditions such as
external environment, wheel size and diameter, and vehicle use.
Official EPA ratings forthcoming.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230406005214/en/
US Media Fisker@GODRIVEN360.com
European Media: Press.europe@fiskerinc.com
Customer service: Support@fiskerinc.com
Fisker Inc. Communications: Matthew DeBord Sr Director,
Communications Strategy & Storytelling
mdebord@fiskerinc.com
Rebecca Lindland Director, Communications
rlindland@fiskerinc.com
Franziska Queling Head of European Communications
fqueling@fiskerinc.com
Investor Relations: Frank Boroch, VP of Investor
Relations fboroch@fiskerinc.com
Fisker (NYSE:FSR)
Historical Stock Chart
From Aug 2023 to Sep 2023
Fisker (NYSE:FSR)
Historical Stock Chart
From Sep 2022 to Sep 2023
