Fisker Intelligent Pilot: The Next Generation of Driver Assistance

• Fisker Ocean SUV will be launched with Fisker Intelligent (FI) Pilot, which will deliver industry-unique features and experiences, including over-the-air updates
• Fisker Ocean will be engineered with hardware to support future upgrades, higher levels of autonomy and advanced driver assistance features, delivered through post-production software-based updates
• Fisker and Magna are working together to develop an industry-unique feature set and a suite of software packages powered by a scalable domain controller architecture
• The partnership will result in joint intellectual property that would include unique features designed to enhance customer experiences

SAN FRANCISCO–(BUSINESS WIRE)–Fisker Inc. (NYSE: FSR) (Fisker) – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles and advanced mobility solutions – today announced it will partner with Magna for the joint development of FI-Pilot, which will be first applied on the Fisker Ocean SUV, planned for launch in Q4, 2022.

This unique partnership will result in the creation of an advanced and scalable domain controller architecture that will support a range of technologies and customer convenience features for the Ocean. These include:

• Multi-function autonomous systems supporting Fisker-unique feature sets
• Over-the-air updates (OTA) powered by the Fisker AI cloud and able to deliver incremental new advanced product features through the lifecycle of the vehicle
• Advanced industry-leading sensor set, including digital imaging radar and high-resolution cameras supporting driver assistance features capable of higher levels of autonomy
• Cybersecurity compliant and tailored to the Fisker ownership experience

“We are developing the FI-Pilot technologies to deliver unique features for our Fisker Ocean customers,” said Fisker Chairman and Chief Executive Officer, Henrik Fisker. “With state-of-the-art hardware and software packages, Fisker will deliver a new type of mobility experience that will stay relevant to the customer through the lifecycle of the vehicle. We will announce further product details closer to our launch in Q4 next year. Customers can expect FI-Pilot to deliver innovative and industry-unique features that are being created to enhance the mobility experience expected from a modern, premium electric vehicle.”

“Expanding from an EV platform sharing, complete vehicle engineering and manufacturing cooperation to collaboration on a full ADAS system demonstrates the breadth of capabilities Magna can deliver to help customers meet their goals,” said Swamy Kotagiri, Magna CEO. “It’s a collaboration that delivers scale and efficiency, while also contributing several advanced vehicle technologies to respond quickly to the evolving new mobility ecosystem.”

Fisker and Magna recently completed the definitive platform agreement and initial manufacturing agreement, just two months on from the original framework agreements. The Fisker Ocean will initially be manufactured exclusively by Magna in Europe, where it currently produces several high-quality vehicles on behalf of global brands. The Fisker Ocean will start deliveries both in the U.S. and in select European markets during Q4, 2022.

The Fisker Ocean SUV will use a modified version of a Magna-developed EV platform to develop the FM29 platform, and in the process, create new IP that is unique to Fisker. Complementing the FM29 platform will be a uniquely adapted advanced electrical electronics architecture that will support all vehicle systems, including the ADAS suite of technologies.

For more information, or for interview inquiries, contact Fisker@GoDRIVEN360.com.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. To learn more, visit www.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 store.

Forward Looking Statements

This press release includes forward-looking statements. These statements are made under 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. Forward-looking statements are statements that are not historical facts. 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 other OEMs or tier-one suppliers in order to execute on its business plan; 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 Form 8-K filed with the Securities and Exchange Commission on November 4, 2020 under the heading “Risk Factors” 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.

Contacts

Fisker Inc.

Simon Sproule, SVP, Communications

310.374.6177 | Fisker@GoDRIVEN360.com

Dan Galves, VP, Investor Relations

dgalves@fiskerinc.com
FiskerIR@icrinc.com