Fisker Announces First Fisker Lounge Retail Location to Open in Shanghai, China

• The Shanghai Fisker lounge will be located on Taicang Road, and the company expects to open it officially in December 2023 or January 2024.
• Fisker opened an office in China in 2022.
• The launch of the Fisker Ocean SUV in China follows a successful launch in both the US and Europe.

Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, announced that it intends to open its first Fisker Lounge in Shanghai, China, continuing the roll-out of its China business.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231012829561/en/

Fisker is currently delivering the all-electric SUV in the U.S. and Europe. Photo credit: Fisker

“China is an incredibly important market for us,” Chairman and CEO Henrik Fisker said. “We are delivering vehicles in the U.S. and Europe, but our goal since the company was established in 2016 has been to operate as a fully global firm. The EV industry is rapidly growing in China, and we want Fisker to be positioned as one of only two pure foreign EV brands. The Chinese customer deserves as much choice as possible, and we intend to provide it to them.”

Fisker established an office in China in 2022 and earlier this year released additional details on its plans for the country, including the set-up of a delivery center in 2023. The announcement of the Fisker Lounge in Shanghai builds on this strategy, as Fisker Lounges serve existing and future customers by being located in high-traffic retail locations where consumers can experience the Fisker brand and get a closer look at Fisker vehicles.

The company expects to open its Shanghai Lounge in December 2023 or January 2024. The Lounge will be located on Taicang Road.

Fisker is currently delivering the all-electric SUV in the U.S. and Europe. The $68,999¹ Fisker Ocean Extreme has a 113 kWh battery pack (106 kWh usable) and an EPA range of 360 miles² on standard 20-inch wheels and tires, which is the longest range of any new electric SUV in its class³. In Europe, the Fisker Ocean Extreme has a WLTP range of 707km/440 U.K. miles⁴ on standard 20-inch wheels and tires, which is the longest range of any electric SUV sold in Europe today. The all-electric SUV starts at $37,499² for the Fisker Ocean Sport trim level in the U.S.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by designing and developing individual mobility in alignment with nature. Passionately driven by a vision of a clean future for all, the company is on a mission to create the world’s most sustainable and emotional electric vehicles. To learn more, visit 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 .

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 quotation of our CEO, the statements regarding the planned launch timing, pricing, delivery, production, and estimated range of the Fisker Ocean, the planned timing of the opening of Fisker facilities, the Company's future performance, expansion of operations, software updates, 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 Estimated pricing shown applies to the continental U.S. and excludes delivery, finance, tax, title, registration, and other government fees. Maintenance is not included. Pricing is subject to change and will be based on your final vehicle configuration. Pricing does not include government incentives you may be entitled to.

² EPA estimated range. Actual results may vary for many reasons, including driving conditions, wheel size, state of battery charge, and how the vehicle is driven and maintained.

³ Mid-size SUVs with an MSRP under $200,000

⁴ This WLTP range number applies to Fisker’s European markets. WLTP measurements conducted on Fisker Ocean Extreme with standard 20” and optional 22” wheels. Actual range will vary with conditions such as external environment, vehicle configuration, wheel size and vehicle use.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231012829561/en/