Fisker Inc.

Fisker Inc. is an American automotive company founded by Henrik Fisker and his wife Geeta Gupta-Fisker. Launched in 2016 and based in Southern California, Fisker Inc. is the successor to Fisker Automotive, which produced the Fisker Karma. Fisker Inc. is developing the Fisker Ocean, an electric sport utility vehicle (SUV) with an estimated range of , with production expected to begin in late 2022.Fisker Ocean: Reborn electric-car startup's SUV has a name
CNET, Sean Szymkowski, October 31, 2019 Until 2021, Fisker was working on the development of solid-state battery technologies that could enable as much as of range with a 1 minute charge.

On July 13, 2020, Fisker Inc. announced an initial public offering on the New York Stock Exchange through a merger with Spartan Energy Acquisition Corp, a SPAC backed by private equity firm Apollo Global Management. On October 30, 2020, Fisker Inc. completed the reverse merger.

History

In 2007, Henrik Fisker and Bernhard Koehler founded Fisker Automotive. The company produced the Fisker Karma, which debuted in 2008 and was first delivered in 2011. Production was suspended in 2012 due to the bankruptcy of its battery supplier A123 Systems, after approximately 2,000 of the vehicles had been sold worldwide. In 2014, Fisker Automotive's assets were purchased by Wanxiang Group, which renamed its new company Karma Automotive. Henrik Fisker retained the Fisker trademarks and brand.

On October 3, 2016, chairman and CEO Henrik Fisker announced the formation of Fisker Inc., an American automaker designing and developing innovative electric vehicles with a longer range, autonomous driving capability, and advanced battery technology,Hannah Elliott
"Henrik Fisker Is Starting a Namesake Car Company Again,"
''Bloomberg Businessweek'', October 3, 2016.Paul A. Eisenstein
"Tesla's Rival is Back: Fisker Launches All-New Battery-Car Company"
NBC News, October 4, 2016. with his co-founder wife Geeta Gupta-Fisker as president and CFO. Fisker stated in July 2016 that he was planning on designing a fully connected electric car with autonomous driving features and an aesthetically pleasing look. On October 31, 2016, Fisker Inc. released the design and specifications of the forthcoming electric vehicle, the Fisker EMotion.

In November 2017, the company announced the development of the Orbit, a fully autonomous, connected, electric shuttle, intended to service smart cities, public airports and campuses.Collin Woodard
"Meet the Latest Fisker Concept: The Orbit,"
''Motor Trend'', December 3, 2017. That month, Fisker Inc. announced it had filed patents on flexible solid-state battery designs, with the batteries expected to be produced on a mass scale around 2020.

In September 2018, the company announced the development of a mass-market all-electric luxury SUV.

On July 8, 2020, Fisker announced the completion of a $50 million Series C financing round funded by Moore Strategic Ventures, the private investment arm of Louis Bacon.

On July 13, 2020, Henrik Fisker announced that Fisker Inc would offer an initial public offering on the New York Stock Exchange through a merger with special-purpose acquisition company Spartan Energy Acquisition Corp. (NYSE:SPAQ), which is backed by private equity firm Apollo Global Management. The deal values Fisker Inc at US$2.9 billion. On October 29, 2020, Fisker announced it completed the reverse merger with Spartan Energy Acquisition Corp (NYSE:SPAQ). As of October 30, 2020, Fisker is publicly listed and traded on the New York Stock Exchange under the ticker symbol FSR.

On July 27, 2020, Fisker announced it was in discussions with Extreme E, an all-electric off-road motor racing series, on a partnership, and potentially entering a works team in Extreme E's inaugural five-race 2021 season. The series is tentatively scheduled to hold races in areas affected by climate issues, including Senegal, Saudi Arabia, Nepal, Greenland, and Brazil.

On July 30, 2020, Fisker announced plans for a four-vehicle portfolio by 2025. The Fisker Ocean SUV will be joined by a sports sedan based on their previously announced Fisker Emotion concept, a coupe-like SUV, and a lifestyle pickup truck. All will be electric vehicles.

On September 24, 2020, Fisker opened a new technology center in San Francisco, to be a focal point for the development of the company's software and vehicle electronics. On October 14, 2020, Fisker announced its new global headquarters will be located in Manhattan Beach in Los Angeles County, California. Named Inception, it will include design and engineering facilities.

On October 15, 2020, Fisker announced it would be outsourcing vehicle production of its Fisker Ocean electric SUV to Magna Steyr, an Austrian-based manufacturer that specializes in contract manufacturing, in order to reduce the complexities and costs related to the building and operating its own factory. Fisker plans on utilizing Magna's electric vehicle platform, and will be giving Magna a stake of up to 6% of Fisker equity. Magna will start building the Fisker Ocean in Europe in 2022.

In October 2020, Viggo, a newly-founded Danish ride-hailing service, ordered 300 Fisker Oceans, to be delivered in late 2022. In March 2021, Fisker announced it had agreed with Crédit Agricole Consumer Finance (of Crédit Agricole Group) on the potential supply of Fisker Ocean SUVs to the European banking group. In May 2021, Fisker announced an agreement with UK electric car subscription service Onto to supply the company with up to 700 Fisker Ocean SUVs in 2023.

On February 24, 2021, it was revealed that Taiwanese manufacturer Foxconn is in talks to manufacture Fisker's second production model. As of May 2021, the model is being referred to as Project Personal Electric Automotive Revolution, or Project PEAR. Foxconn plans on producing up to 250,000 units a year for Fisker, and aims to start production by the end of 2023. In October 2021, it was announced that Foxconn would purchase a former GM plant from Lordstown Motors, and that the company would use the facility to produce electric vehicles for Fisker as well as Lordstown.

In May 2021, Fisker and Sharp announced an agreement for Sharp to supply screens and other such components to a series of upcoming Fisker vehicles. Following a visit by Henrik and Geeta Fisker with Pope Francis in Rome, it was announced that Fisker will produce a custom-made electric Popemobile SUV for Pope Francis, the first emissions-free, all-electric vehicle made for the Pope. It will be based on the Fisker Ocean SUV.

Fisker aims to have four vehicles to market by 2025. In addition, the company has set a goal of creating its first climate-neutral vehicle by 2027.

In 2021, Fisker teamed with the Motor Press Guild to create the annual Fisker-MPG Scholarship for Journalism, awarding $1,500 to a college student pursuing a degree in journalism.

On June 28, 2021, Fisker stock was added to the Russell 3000 Index.

In July 2021, Fisker announced that it would be opening "global brand experience centers" in the US and Europe. The first location will open in Los Angeles, followed by one in Munich, in the first half of 2022. Other centers are planned for New York, Miami, London, and Copenhagen.

On July 28, 2021, Fisker announced it would invest $10 million in private investment in public equity funding in the EV charging company Allego's merger with Spartan Acquisition Corp III. The deal will include a free year of charging on the Allego network for drivers in Europe who purchase a Fisker Ocean SUV from 2023 through March 2024.

In August 2021, Fisker and Bridgestone announced a partnership in which Bridgestone would be the exclusive tire supplier for the Fisker Ocean SUV. Custom-developed Bridgestone Potenza Sport tires will be used on models in Europe and some in North America, with other models using Bespoke Alenza Sport tires.

In October 2021, Fisker Inc. announced the establishment of Fisker Magic Works, its UK division, led by David King, responsible for specialty vehicle engineering and development. The division will focus on low-volume, specialty, and custom products.

In November 2021, Fisker and Contemporary Amperex Technology (CATL) announced a deal for CATL to supply battery packs for the Fisker Ocean SUV. CATL will provide two different battery packs for the vehicle, with an initial battery capacity of over 5 gigawatt-hours annually, from 2023 to 2025. The primary high-capacity pack uses a lithium nickel manganese cobalt cell chemistry, and the second pack uses CATL's newest cells based on lithium-ion phosphate chemistry.

In January 2022, Henrik Fisker announced that Fisker Inc. is setting up its first India entity, a global technology center, in Hyderabad. The company has started recruitment for the center, and plans to have a team of 300 software engineers, working mainly on software technologies. The company plans to set up a manufacturing plant in India for the PEAR, in collaboration with Foxconn. Fisker Inc. and Foxconn plan on producing 1 million units of the PEAR initially.

Vehicles

Fisker Ocean

On March 18, 2019, Fisker announced an all-electric SUV to be launched in 2021. The luxury vehicle is intended to be the first of three in a lineup of mass-market all-electric vehicles designed by Henrik Fisker and produced in the US. Later named the Fisker Ocean, it will have a range of "close to 300 miles", available on the lowest-cost option. The SUV will be offered in both rear- and all-wheel drive. Power will be supplied by a lithium-ion battery pack with a capacity of around 80 kWh and a solar panel roof as a range extender, adding approximately 1,000 free miles of range per year. The ultra-high performance version of the Fisker Ocean will be able to go from 0-60 mph in less than 3 seconds, faster than the performance version of the Tesla Model Y. Advanced electronics include the air conditioning unit, which will be housed under the hood. The SUV will be a sustainable vehicle, using recycled plastic from ocean debris, vegan leather, and a solar roof in its top-model spec, and it will recycle waste generated during tire manufacturing for sections of the interior, like the trunk. Even the suede used for the interior is recycled from plastic, bottles, and T-shirts.

The look of the SUV is "dramatically sculpted" with a "futuristic, elegant muscular look". The vehicle's California Mode will open every window and panel with one button. The fascia includes styling that makes it look like a traditional grille made of a small, center high-mounted radar, behind glass where a parametric pattern dominates the lower front. The inlets in the corners send cool air to the brakes and other areas. There will be a spacious interior with a large display and a dashboard with an intuitive user interface. The Fisker Ocean measures 182.7 inches long, 76 inches wide, and 63.6 inches high, with 20 cubic feet of trunk space (increasing to a maximum of 45 cubic feet with the parcel shelf removed and the rear seats folded).

On November 27, 2019, Fisker Inc. announced that the Fisker Ocean would be offered through its flexible lease program for a $379 per month lease payment, with a $2,999 down payment and $250 reservation fee. The Fisker lease program allows customers to return the vehicle at any time, includes maintenance and service, and comes with 30,000 miles per year. The vehicle can also be purchased from the base price of $37,499 (or $29,999 after the US tax credit). There will be five options packages for the vehicle, which will be available for potential customers to view at "experience centers" opening in 2020 at shopping malls, airports, and other locations. Fisker also announced a partnership with Electrify America to ensure Fisker Ocean vehicles will integrate seamlessly with Electrify America charging stations when the e-SUV hits the market.

Following its appearance at the 2020 Consumer Electronics Show in Las Vegas, the Fisker Ocean was named to Best of CES 2020 lists by publications including ''Newsweek'' (calling it "the greenest SUV ever"), ''Time'', CNET, ''Digital Trends'', ''Business Insider'', ''PC Magazine'', and Mashable. The prototype was built in Italy by Italdesign. In January 2020, Henrik Fisker stated that the Fisker Ocean would be sold in Germany, Norway, and Sweden in 2022 as its first European markets, ahead of a wider rollout there. More details on the Fisker Ocean were intended to be revealed at the Geneva Motor Show in March 2020. However, the Geneva Motor Show was canceled due to the COVID-19 pandemic. In spite of the cancelation, it was revealed via a press release that the Fisker Ocean will use a 150-kilowatt Combined Charging Standard (CCS) DC fast charging plug. Fisker now plans to unveil the production version of the Fisker Ocean at the LA Auto Show in November 2021. In June 2021, Fisker finalized its manufacturing deal with Magna Steyr, with production on the Fisker Ocean to begin in November 2022 at Magna's facility in Graz, Austria.
As of November 17, 2022, production started

Fisker showcased the all-electric Fisker Ocean SUV at CES in Las Vegas, following the vehicle's global reveal at the 2021 Los Angeles Auto Show. Called Fisker Intelligent Pilot, the ADAS platform integrates four types of sensors: an industry-leading surround-view camera suite, a camera-based driver-monitoring system, ultrasonic technology, and a Digital-Imaging Radar System that Fisker expects will be first to market when the Fisker Ocean begins production in November 2022. At the LA Auto Show, the Fisker Ocean won a Zevas zero-emission vehicle award in the Crossover ($50,000 and below) category.

In November 2021, Fisker Inc committed to the United Nations Global Compact, agreeing to pursue sustainable development goals. On December 22, 2021, Fisker Inc launched an NFT series of original pen-on-paper sketches by Henrik Fisker, in a collection called Fisker by Hand: OCEAN Concept Collection. In February 2022, the Fisker Ocean made its European market debut at Mobile World Congress in Barcelona.

As of February 2022, the company announced that it has over 30,000 reservations for the Fisker Ocean SUV and over 55 000 by August 2022.

On November 17, 2022, mass production started. The first deliveries of the launch edition the Ocean One are expected early 2023.
As of 2022, the Ocean had 63,000 preorders.

Fisker PEAR

The all-electric Fisker PEAR blends sustainability, technology, and design into a digitally connected, compact, five-passenger urban EV. Featuring intuitive controls, sporty driving, clever storage, and a focus on industry firsts, the Fisker PEAR will start at $29,900 before taxes and incentives in the US. The PEAR will be built at Foxconn's plant in Lordstown, Ohio using the Foxconn MIH EV platform with an initial production target of 250,000 annually. As of February 15, 2022, Fisker Inc. has started to take reservations for the PEAR.

Fisker Orbit

On November 30, 2017, the Fisker Orbit was announced as an autonomous, connected, electric shuttle designed for smart cities. Fisker Inc. partnered with Jack Wong of Chinese company Hakim Unique Group on the self-driving electric shuttle, as well as with motor technology company Protean Electric. The shuttle will be fully connected, with two different areas with room to sit or stand. The interior design maximizes passenger space, with a large exterior digital display to inform commuters when the shuttle departs and what the next stop will be. The shuttles are intended to be used for short, shared trips, in college and corporate campuses, airports, resorts, and smart city centers. It will hold between 8 and 12 people depending on its configuration, with standing and sitting room. Fisker is developing an app that passengers can use to request the shuttle. The first test vehicle was projected to run at a corporate campus in the US in 2019.

Fisker EMotion

The Fisker EMotion is an all-electric sports sedan designed by Henrik Fisker for Fisker Inc.,Charles Fleming, "Fisker will challenge Tesla with its own high-end electric car," ''Los Angeles Times'', October 31, 2016. with a full-length panorama-style sunroof and "wide sculptural shoulders, thin taillight tubes, wide trunk opening, and aggressive lower rear diffuser to improve aerodynamics." Fisker called it "our high-tech private luxury vehicle." The EMotion is stated to run on a single charge. It is to have a top speed of , and will go from 0 to 60 in three seconds. The car will be equipped with a solid-state battery being developed by Fisker Inc.Viknesh Vijayenthiran
"Fisker solid-state battery promises 500-mile range, 1-minute charging,"
Motor Authority, January 9, 2018. The solid-state battery is expected to yield ranges over per charge, with a one-minute charge time,Brandon Friederich
"This Stunning New Fisker Boasts a Tesla-Beating 400-Mile Range, Could Be New King of Electric Rides,"
''Maxim'', January 13, 2018. which would be a longer range than any electric vehicle to date. The vehicle will have autonomous features, so that self-driving mode may be activated at a future date. The first photos of the EMotion were released on June 6, 2017,Darrell Etherington
"Take a look at these first pictures of Fisker's $130K EMotion electric car,"
TechCrunch, June 6, 2017. and the car itself was unveiled in January 2018 at the Consumer Electronics Show in Las Vegas. It was named Best Car at CES 2018 by ''PC Magazine''.

In January 2018, Fisker stated that the price of the EMotion will start at $129,000 for the base model. The four-door vehicle seats five passengers, has smartphone-controlled butterfly doors, a carbon fiber exterior, and a panoramic screen system. It also has 24-inch carbon fiber wheels, and a tinted roof made from electrochromic smart glass. It will support level 4 autonomous driving (where it can be employed in most driving situations), using advanced LiDAR-based autonomous driving sensors developed through a partnership with Quanergy. Fisker Inc. is working with Pirelli to create advanced low rolling resistance tires for the EMotion. They will be produced in Rome, Georgia.

Fisker Alaska

On February 12, 2020, Henrik Fisker tweeted, and then deleted, a rear angle render of a pickup truck badged as the Fisker Alaska. The official response from the company did not confirm the name or the product, simply stating that Fisker is working on a modular platform that can be used for multiple electric vehicle models. Ambiguous hints of an electric pickup were previously tweeted by Fisker in August 2019. In a call with shareholders in June 2021, Fisker said a pickup truck is a vehicle the company is considering adding to the lineup by 2025.

Technology

Fisker Nanotech

In 2016, Fisker Inc. teamed up with Nanotech Energy to create a joint venture called Fisker Nanotech, with Jack Kavanaugh as chairman.Danielle Muoio
"Henrik Fisker is using a revolutionary new battery to power his Tesla killer"
''Business Insider'', October 16, 2016. They worked on developing a next-generation supercapacitor technology using graphene. The proposed hybrid battery using graphene supercapacitors had the potential for improved energy conducting and charging capabilities, and a better cycle life, so that the battery would not need to be swapped out as often as a pure lithium-ion battery. In July 2017, Fisker Inc. ended its joint venture with Nanotech Energy to produce batteries using graphene.

Solid-state battery

On November 13, 2017, Fisker Inc. announced that it had filed patents on flexible solid-state battery designs, expecting the batteries to be produced on a mass scale around 2023.Joel Stocksdale
"Fisker has filed patents for solid-state batteries,"
Engadget, November 14, 2017. A prototype of the battery, which included 21700 NCM cells from LG Chem, debuted at the Consumer Electronics Show in January 2018. By July 2018 the company's scientists were ahead of schedule and had a revised target year of 2020. On Fisker Inc.'s development team is Dr. Fabio Albano, one of the founders of Sakti3, the solid-state battery startup sold to Dyson in 2015. Solid-state batteries have greater energy density and faster charging times than lithium-ion batteries. Fisker states the batteries they are developing will have an energy density 2.5 times that of current batteries, at a smaller size and lower cost than conventional lithium-ion batteries, and will be capable of providing a driving range with a one-minute charge time. The batteries will operate in temperatures as cold as .

Fisker Inc. is developing its own technology, with partners building the cells. They are working to define their charging standard that will work with other standards of superchargers. The solid-state batteries will last "well over 1,000" charge cycles. Fisker says the batteries will take less than 10 days to produce, far less than the 50 to 60 days it takes to produce lithium ion batteries.

In October 2018, Fisker Inc. announced new funding through Caterpillar Venture Capital, a subsidiary of the Caterpillar Inc. heavy-machinery manufacturing company, with the money going toward development of Fisker Inc.'s new solid-state battery technology. Caterpillar believes the battery will have applications in construction, energy storage, transportation and mining industries.

In 2021, Fisker dropped its plans to use solid-state batteries. Henrik Fisker summed up the efforts in solid-state battery design as follows:
“It’s the kind of technology where, when you feel like you’re 90 percent there, you’re almost there, until you realize the last 10 percent is much more difficult than the first 90. So we have completely dropped solid-state batteries at this point in time because we just don’t see it materializing.”

Fisker Flexee app

On November 27, 2019, the company introduced the official Fisker Flexee smartphone app on iOS and Android platforms. The app allows customers to reserve the Fisker Ocean e-SUV, and to schedule test drives beginning in 2021.

See also

* Fisker Coachbuild (2005–07)
* Tesla, Inc.
* Faraday Future
* Rivian
* Lucid Motors

References

External links

*

Henrik Fisker website

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Plug-in hybrid vehicle manufacturers
Battery electric vehicle manufacturers
Electric vehicle manufacturers of the United States
Vehicle manufacturing companies established in 2016
American companies established in 2016
2016 establishments in California
Motor vehicle manufacturers based in California
Henrik Fisker
Car brands
Electric vehicle battery manufacturers
2020 initial public offerings
Manufacturing companies based in Los Angeles
Companies listed on the New York Stock Exchange
Special-purpose acquisition companies