Fisker to Open China Delivery Center in 2023, Start of Deliveries Projected for Q1 2024

Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, today announced its plans to open a delivery centre in China in 2023 and commence deliveries of the Fisker Ocean SUV in Q1 2024.

“After beginning deliveries in Europe and with the first vehicles coming to our US customers on June 23, we are excited to move into the Chinese market later this year,” Chairman and CEO Henrik Fisker said. “We expect China to be an important growth market for EVs in the future and believe our vehicles will be very appealing. We established an office there and intend to open a delivery centre this year. I believe we can get production up and running in China as early as next year, potentially adding a capacity of 75,000 Fisker Oceans annually.”

At Fisker’s annual shareholder meeting, held June 6, China board member Daniel Foa outlined the company’s advantages in the country.

“Firstly, China represents a third of global vehicles sales, which is roughly 26 million cars in 2022, of which electric vehicles represent 6-7 million, around a 25% share,” he said. “In 2023, year-to-date, that has grown to around 27%. Secondly, the premium and affordable luxury segment is growing faster than the general segments. Fisker fits right in that segment with its unique history, features, and design.”

“China has always had a high acceptance of high-quality traditional international automotive brands,” Foa added. “There has been a rapid shift to electrification from government policies and consumer behaviour. Fisker is one of only two EV-only international companies which are viable alternatives to traditional brands. This will enable us to be on the shortlist for consumer purchase decisions but with a more feature-rich product. As a new international EV brand, this presents a vast opportunity for Fisker in China.”

Fisker’s leadership team recently visited China and met with officials and business leaders in Shanghai to discuss regional collaborations and opportunities. The conversations focused on automotive supply chains, logistics, warehousing, and future product development.

With a 113 kWh battery pack (106 kWh usable), the $68,999 Fisker Ocean Extreme has an EPA-estimated range of 360 miles[1] on standard 20” wheels and tires; in Europe, the Fisker Ocean Extreme has a WLTP range of 707km/440 UK miles[2] on standard 20” wheels and tires, which is the longest range of any electric SUV sold in Europe today. The all-electric SUV costs $37,499 for the Fisker Ocean Sport trim level.

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