Fisker Inc.
TypePublic
NYSE: FSR
ISINUS33813J1060
IndustryAutomotive
PredecessorFisker Automotive, Fisker Coachbuild
FoundedOctober 3, 2016 (2016-10-03) in Los Angeles, California, U.S.
Founder
HeadquartersManhattan Beach, California, U.S.[1]
Products
Number of employees
455 (May 2022)[2]
Websitefiskerinc.com

Fisker Inc. is an American automotive company founded by Henrik Fisker and his wife Geeta Gupta-Fisker. Launched in 2016 and based in Manhattan Beach, California, Fisker Inc. is the successor to Fisker Automotive.[3]

Fisker Inc. is developing the Fisker Ocean, an electric sport utility vehicle (SUV) with an estimated range of 300–350 miles (480–560 km), with production expected to begin in late 2022.[4] Until 2021, Fisker was working on the development of solid-state battery technologies, but was unable to produce a workable battery.[5]

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.[6] On October 30, 2020, Fisker Inc. completed the reverse merger.[7]

History

Fisker press event at IAA Mobility with Henrik Fisker highlighting several of the electric vehicles of the company.

In 2007, Henrik Fisker and Bernhard Koehler founded Fisker Automotive.[8] The company produced the Fisker Karma, which debuted in 2008 and was first delivered in 2011.[8] Production was suspended in 2012 due to the bankruptcy of its battery supplier A123 Systems,[9] after approximately 2,000 of the vehicles had been sold worldwide.[10] 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.[11]

On October 3, 2016, chairman and CEO Henrik Fisker announced the formation of Fisker Inc., an American automaker,[12][13][14] with his wife and co-founder Geeta Gupta-Fisker as president and CFO.[15][16][17] 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.[18]

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 valued Fisker Inc at US$2.9 billion.[19][20] 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.[21] On October 14, 2020, Fisker announced its new global headquarters will be located in Manhattan Beach in Los Angeles County, California.[22] On October 29, 2020, Fisker announced it completed the reverse merger with Spartan Energy Acquisition Corp (NYSE:SPAQ). Beginning on October 30, 2020, Fisker has been publicly listed and traded on the New York Stock Exchange under the ticker symbol FSR.[23][24]

On June 28, 2021, Fisker stock was added to the Russell 3000 Index.[25] 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.[26]

In January 2022, Henrik Fisker announced that Fisker Inc. would be setting up its first India entity, a global technology center, in Hyderabad. The company has started recruitment for the center, and announced plans to have a team of 300 software engineers, working mainly on software technologies, and to set up a manufacturing plant in India for their PEAR model, in collaboration with Foxconn. Fisker Inc. and Foxconn plan on producing 1 million units of the PEAR initially.[27][28]

In June 2023, Fisker announced that it intended to produce vehicles in China.[29]

In August 2023, Fisker announced that it would transition from the CCS charging connector to NACS, with access to Tesla's Supercharger network starting in 2025, first via a CCS-NACS adapter, later making new vehicles with NACS jacks.[30][31]

In December 2023, Fisker announced that it has “now achieved all required approvals and licenses, and satisfied insurance requirements, to sell vehicles in Canada”,[32] and in January 2024, the company announced it would sell vehicles through dealers alongside its direct to consumer sales.[33]

Vehicles

Fisker Ocean

One sustainable element is renewable energy captured by a solar roof adding around 1,500 miles a year.[34]

On March 18, 2019, Fisker announced an all-electric SUV to be launched in 2021. It is intended to be the first of three in a lineup of mass-market all-electric vehicles designed by Henrik Fisker and originally planned to be produced in the US.[35] Later named the Fisker Ocean, the company advertises that it will have a range of "close to 300 miles", available on the lowest-cost option.[36][37]

The SUV will be offered in both rear- and all-wheel drive. The company states that it 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 around 1,500 free miles of range per year.[34] The company claims that the Fisker Ocean is being designed with a large number of recycled materials and with sustainability in mind.[38][39][40]

Fisker Pear

The Pear is an announced "urban" electric vehicle planned by Fisker.[41] The company intends to charge $29,900 before taxes and incentives in the US. The Pear is planned to be built at Foxconn's plant in Lordstown, Ohio using the Foxconn MIH EV platform with an initial production target of 250,000 annually.[42][43] As of February 15, 2022, Fisker Inc. has started to take reservations for the Pear.[44]

Fisker Ronin

The Ronin was officially unveiled on 3 August 2023.[45]

Fisker Alaska

The Alaska was officially unveiled on 3 August 2023.[45]

Technology initiatives

Unsuccessful nanotech partnership

In 2016, Fisker Inc. teamed up with Nanotech Energy to create a joint venture called Fisker Nanotech, with Jack Kavanaugh as chairman.[12][46][47] They worked on developing a next-generation supercapacitor technology using graphene.[13][46][48] 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.[46] In July 2017, Fisker Inc. ended its joint venture with Nanotech Energy to produce batteries using graphene.[49]

Unsuccessful solid-state battery research

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.[50] A prototype of the battery, which included 21700 NCM cells from LG Chem, debuted at the Consumer Electronics Show in January 2018.[51] Fisker's development team included Fabio Albano, one of the founders of Sakti3, the solid-state battery startup sold to Dyson in 2015.[52][53] Solid-state batteries have greater energy density and faster charging times than lithium-ion batteries.[50] 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 solid-state battery technology.[54][55] In 2021, Fisker dropped its plans to use solid-state batteries; Henrik Fisker stated that the company could not make the technology work successfully.[5]

See also

References

  1. ↑ "Impressum". Fisker Inc. Retrieved May 30, 2022.
  2. ↑ "Fisker Inc. Announces First Quarter 2022 Financial Results" (PDF). Fisker Inc. May 4, 2022. Retrieved May 30, 2022.
  3. ↑ "Fisker Inc. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2022.
  4. ↑ Szymkowski, Sean. "Fisker Ocean: Reborn electric-car startup's SUV has a name". CNET. Retrieved February 6, 2023.
  5. 1 2 O'Kane, Sean (February 26, 2021). "Fisker Inc. has 'completely dropped' solid-state batteries". Archived from the original on March 3, 2021.
  6. ↑ Assis, Claudia. "Fisker is going public: Five things to know about the electric-car maker ahead of its IPO". MarketWatch. Retrieved August 24, 2020.
  7. ↑ Assis, Claudia. "Electric-car maker Fisker shares to start trading on NYSE Friday". MarketWatch. Dow Jones & Company. Retrieved October 30, 2020.
  8. 1 2 "How America's Coolest Automaker Crashed So Hard, So Fast". Business Insider. Retrieved May 16, 2019.
  9. ↑ "Henrik Fisker Resigns From Fisker Automotive". NY Times. March 13, 2013. Retrieved May 16, 2019.
  10. ↑ "Special Report: Bad Karma: How Fisker burned through $1.4 billion on a 'green' car". Reuters. June 17, 2013. Retrieved May 16, 2019.
  11. ↑ "2018 Karma Revero is an 'ultra-luxury' hybrid". LA Times. Retrieved May 16, 2019.
  12. 1 2 Hannah Elliott, "Henrik Fisker Is Starting a Namesake Car Company Again," Bloomberg Businessweek, October 3, 2016.
  13. 1 2 Paul A. Eisenstein, "Tesla's Rival is Back: Fisker Launches All-New Battery-Car Company" NBC News, October 4, 2016.
  14. ↑ Paul Leinert, "This Startup Founder Plans to Take on Tesla – Again," Time, October 4, 2016.
  15. ↑ Ohnsman, Alan (December 12, 2020). "Meet the Fiskers, the billionaire power couple taking on Tesla". Forbes. Retrieved December 14, 2020.
  16. ↑ "Pop Quiz, Monday with Dr. Geeta Gupta Fisker". Startup Growth. Retrieved May 16, 2019.
  17. ↑ ""I believe an open culture promotes accountability, responsibility and honesty." with Dr. Geeta Gupta-Fisker and Chaya Weiner". Thrive Global. Retrieved August 22, 2019.
  18. ↑ Korosec, Kirsten (July 8, 2020). "Fisker raises $50 million to bring its all-electric Ocean SUV to market in 2022". TechCrunch. Retrieved August 17, 2020.
  19. ↑ Szymkowski, Sean. "EV startup Fisker will go public to fund Ocean production in 2022". CNET. Retrieved August 17, 2020.
  20. ↑ Klayman, Ben (July 13, 2020). "Electric car maker Fisker to go public through SPAC deal at $2.9 billion valuation". Reuters. Retrieved July 13, 2020.
  21. ↑ "Fisker Opens New Software Development Office in San Francisco". Socaltech. Retrieved November 5, 2020.
  22. ↑ "New headquarters reinforces Fisker's Calif. roots". Auto Remarketing. October 16, 2020. Retrieved November 5, 2020.
  23. ↑ "Electric-vehicle startup Fisker Inc. shares jump 13% on stock market debut". Fortune. Retrieved November 5, 2020.
  24. ↑ "Automaker Fisker is going public, will be listed on the New York Stock Exchange". Slash Gear. October 31, 2020. Retrieved November 5, 2020.
  25. ↑ "Why Fisker Jumped 9% on Wednesday". Nasdaq. Retrieved July 12, 2021.
  26. ↑ "Fisker invests in EV charging network Allego's SPAC merger". Techcrunch. July 28, 2021. Retrieved September 15, 2021.
  27. ↑ "Exclusive: USA's Fisker Inc. Sets up India tech centre, manufacturing plant with Foxconn next - ET Auto".
  28. ↑ "Fisker Inc. To set up global tech centre in India | Team-BHP".
  29. ↑ "Fisker to Open China Delivery Center in 2023 and Start Deliveries of Fisker Ocean SUV in Q1 2024". June 9, 2023. Retrieved September 6, 2023.
  30. ↑ Lambert, Fred (August 15, 2023). "Fisker says it will adopt Tesla's NACS connector". Electrek. Retrieved August 16, 2023.
  31. ↑ "Electric-Auto Maker Fisker Signs On for Tesla Charger Compatibility". CNET. Retrieved August 16, 2023.
  32. ↑ "Fisker targets further delivery progress". EV inFocus. December 4, 2023. Retrieved December 4, 2023.
  33. ↑ "Fisker turns to dealers to boost deliveries". EV inFocus. January 5, 2024. Retrieved January 5, 2024.
  34. 1 2 Priddle, Alisa. "Is the 2023 Fisker Ocean's Solar Roof Fab or Folly?". MotorTrend.
  35. ↑ "New electric SUV offers inductive charging, so no need to plug in: Fisker CEO". Fox Business. March 18, 2019. Retrieved May 16, 2019.
  36. ↑ "Fisker failed. But now the EV pioneer is ready for an epic redo". Digital Trends. November 17, 2018. Retrieved May 16, 2019.
  37. ↑ "Henrik Fisker delays his luxury sports car and announces 'mass-market' electric SUV". The Verge. March 18, 2019. Retrieved May 16, 2019.
  38. ↑ "Fisker's Ocean will do 0-60mph in less than three seconds". Top Gear. January 14, 2020. Retrieved January 31, 2020.
  39. ↑ "Fisker, 'Thrones' celebrity work to advance sustainable mobility". Auto Remarketing. September 11, 2019. Retrieved September 12, 2019.
  40. ↑ Kedem, Kfir (May 7, 2020). "Fisker Ocean Taking Sustainability to the Next Level". Automotive Trendy. Retrieved May 29, 2020.
  41. ↑ Estrada, Zac (March 4, 2021). "'Why Does It Have To Be That Way?' Fisker's CEO on His Plans for Their New Electric Car". dot.la. Retrieved May 2, 2023.
  42. ↑ "Project PEAR: US-built Fisker EV promised in 2024 with $29,900 price tag". May 27, 2022.
  43. ↑ "Fisker Inc. Announces Fourth Quarter and Fiscal Year 2021 Financial Results".
  44. ↑ "Fisker opens reservations for second EV, the PEAR starting below $30k before taxes or incentives". February 15, 2022.
  45. 1 2 Dorian, Drew. "Fisker Unveils Future Plans for Rōnin, Pear, and Alaska Pickup". Hearst Digital Media. Car and Driver.
  46. 1 2 3 Danielle Muoio, "Henrik Fisker is using a revolutionary new battery to power his Tesla killer" Business Insider, October 16, 2016.
  47. ↑ Ronan Glon, "Can Fisker beat Tesla with state-of-the-art battery tech and butterfly doors?" Digital Trends, October 21, 2016.
  48. ↑ Kirby Garlitos, "Henrik Fisker Launches Fisker Inc.," topspeed.com, October 5, 2016.
  49. ↑ Michael Wayland, "Fisker, emerging battery supplier Nanotech end JV," Automotive News, July 21, 2017.
  50. 1 2 Joel Stocksdale, "Fisker has filed patents for solid-state batteries," Engadget, November 14, 2017.
  51. ↑ "Henrik Fisker Talks Batteries and Autonomous Transportation". The Drive. March 7, 2018. Retrieved May 16, 2019.
  52. ↑ Viknesh Vijayenthiran, "Fisker solid-state battery promises 500-mile range, 1-minute charging," Motor Authority, January 9, 2018.
  53. ↑ Nicolas Zart, "Fisker Aims To Unleash The Potential Of Solid-State Batteries, & Stun With Emotion," Clean Technica, November 17, 2017.
  54. ↑ "Caterpillar Invests in Fisker to Accelerate Development of Solid-State Batteries". The Drive. October 24, 2018. Retrieved May 16, 2019.
  55. ↑ "Fisker secures investment from Caterpillar for its solid-state battery technology". Electrek. October 22, 2018. Retrieved May 16, 2019.
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