- Fisker expects to have approximately 100 dealer locations in
both Europe and North America.
- Fisker expects to send its first Fisker Ocean vehicles to new
dealers by the end of Q1 2024.
- Fisker is making this move to align with its asset light
business model and to scale for significant acceleration of Fisker
Ocean deliveries and higher volume production of additional future
models.
- In Europe, Fisker will continue to offer direct sales but will
bring on sales and distribution partners.
Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to
create the world’s most emotional and sustainable electric
vehicles, today announced that the company is developing an
innovative Dealer Partnership model in North America. In Europe,
Fisker intends to pursue a hybrid of direct sales and dealer
arrangements.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240104345319/en/
Fisker Inc., driven by a mission to
create the world’s most emotional and sustainable electric
vehicles, today announced that the company is developing an
innovative Dealer Partnership model in North America. In Europe,
Fisker intends to pursue a hybrid of direct sales and dealer
arrangements. (Photo: Business Wire)
Henrik Fisker, Chairman and CEO, said:
“As we saw throughout 2023, the EV market has changed
dramatically. As a high-growth startup, Fisker is transforming its
strategic efforts by putting in place the brand accessibility and
sales channels required to satisfy increasing demand for the Fisker
Ocean and to prepare for launch of additional future models. As a
result, we are evolving our business model and intend to add as
many as 50 dealer partners in the US and Canada and a similar
number of dealer locations in Europe this year. In keeping with our
asset light strategy, I expect the Dealer Partnership model should
enable Fisker to expand its sales and delivery network at a faster
pace.”
Large dealer territories, no-haggle pricing, and vehicles to
first dealers by end of Q1 2024
The Dealer Partnership model combines the goal of offering our
customers no-haggle pricing on Fisker vehicles (where permitted)
while also providing our dealer partners with larger market
territories, so they can maintain pricing without concern for local
competition. The company has been in discussions with numerous
potential dealers since late November 2023.
The company is implementing this approach to expedite the
expansion of its sales, delivery, and test drive network. Fisker
expects that its first dealers will start receiving vehicles by the
end of Q1 2024, and that it will have all its initial dealer
partners in place when higher-volume vehicle models arrive in the
marketplace in the future.
Sustainable dealerships and streamlined customer
support
In keeping with its sustainability mission, Fisker does not plan
to require its dealer partners to make extensive, time-consuming,
or costly changes to their existing facilities. The company has
developed corporate identity features that it can quickly provide
to its dealer partners so that they can commence sales and service
as soon as possible. Fisker will continue to maintain its own
Fisker Lounges in global markets so that customers may experience
the brand and contribute sales leads that the company can send to
its dealers.
Fisker will be working with dealer partners who place a high
emphasis on delivering excellent customer satisfaction, providing
streamlined customer support and service, as well as expanded
test-drive opportunities as the range of Fisker models and trim
levels expands. Dealers will also facilitate financing and
insurance arrangements and assist customers with matters related to
Fisker’s warranty.
Hybrid business model in Europe
Following the agency model, Fisker plans to sign up sales and
distribution partners in its European markets, while the company
continues direct sales in the region.
Dealers can inquire by using the following email address:
North America Market: retailpartners@fiskerinc.com
EU Market retailpartnersEurope@fiskerinc.com
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 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 quotation of our CEO, the
statements regarding the planned development of a dealer
partnership approach to vehicle distribution, 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; Fisker’s
ability to transition to a dealer partnership approach from a
direct-to-consumer distribution model; 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240104345319/en/
European Media: Press.europe@fiskerinc.com
US Media Fisker@GODRIVEN360.com
Customer service: Support@fiskerinc.com
Fisker Inc. Communications:
Matthew DeBord VP, Communications mdebord@fiskerinc.com
Franziska Queling Regional Head of Public Relations Europe
fqueling@fiskerinc.com
Investor Relations: Frank Boroch, VP of Investor Relations
fboroch@fiskerinc.com
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