BUSINESS - Fisker Signs New Dealer Partners in US

Fisker CEO Henrik Fisker and Mike Domenicone, Principal and owner of Classic Fisker, signing at NADA in Las Vegas - (Photo: Fisker Inc.)

Strategic Business Shift Continues - Fisker has now signed four dealer partners in the US, with additional signings expected in the coming weeks

LOS ANGELES, CA USA -- (BUSINESS WIRE)

Thursday February 22, 2024

Fisker Inc. driven by a mission to create the world's most emotional and sustainable electric vehicles, announced today that it has signed a total of four dealer partners in the US as it undertakes a strategic shift in its business model.

Dealers joining the Dealer Partnership program are the Mills Automotive Group, Ourisman Fisker, Classic Fisker, and Long Island Fisker.

"I'm excited by the rapid progress of the Dealer Partnership model, which we announced just over a month ago," Chairman and CEO Henrik Fisker said. "The dealer partners we have signed up so far share a commitment to the future of electric vehicles and to their communities, many of which they have served for multiple generations. I believe our customers will find that each of these dealer partners plan to provide top-level service and ongoing relationship building for owners of the class-leading and award-winning Fisker Ocean SUV."

Mills signed up to be Fisker's first dealer partner in the US at the company's inaugural dealer open house on January 31 and will open three Fisker dealerships in Charlotte and Raleigh, NC (Triad Fisker); and Greenville, SC (Stateline Fisker).

Ourisman Fisker and Classic Fisker both signed at the National Automobile Dealers Association Show in Las Vegas earlier this month, and Long Island Fisker signed this week.

Ourisman Fisker, part of a fourth-generation dealership group, will be located in Rockville, MD, in the Washington, DC area. Classic Fisker will open a location in Atlanta, Long Island Fisker plans to open a location in that region of New York state and another in New Jersey. Altogether, these dealer partners intend to open seven locations.

On January 4, 2024, Fisker announced that it would engage in a strategic shift from direct sales to customers in North America to an innovative Dealer Partnership model. The model combines the goal of offering its customers no-haggle pricing on Fisker vehicles (where permitted) and superb service while also providing dealer partners with larger market territories, so they can maintain pricing without concern for local competition. Taken together, these goals represent a win-win-win for customers, dealers, and Fisker. The transition to dealer partners aligns with Fisker's asset light business model, which enables the company to significantly scale for Fisker Ocean deliveries and higher volume production of additional future models.

Fisker has received interest from over 250 dealers in North America and the rest of the world since announcing its strategic shift.

Fisker is currently delivering the all-electric Ocean SUV, which starts at $38,999, in the US, Canada, and Europe. In the US, the Ocean has an EPA range of up to 360 mi 1, which is the longest range of any new electric SUV in its class 2. The Fisker Ocean has the lowest published carbon footprint of any electric SUV, uses over 110 lbs. of recycled and bio-based materials, is built at a carbon-neutral facility, and integrates rooftop solar panels, adding up to 1,500 miles/year of range 3.

1 EPA estimated range. Mid-size SUVs. Measurements conducted with standard 20” wheels. Actual results may vary for many reasons, including driving conditions, wheel size, state of battery charge, and how the vehicle is driven and maintained.

2 Mid-size SUVs in comparable price segment.

3 Based on Fisker simulations. Ideal con

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