- Fisker will start US deliveries of the all-electric Fisker
Ocean SUV later this month.
- The Fisker Ocean Extreme has received both an EPA Certificate
of Conformity and a California Air Resources Board (CARB) Executive
Order, approving the Fisker Ocean Extreme for sale and delivery in
all 50 US states and the District of Columbia.
- Certification by regulators in US will enable Fisker to sell
emission credits as part of its overall business strategy.
- Fisker has already agreed to sell emission credits to a major
automaker at competitive rates.
Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to
create the world’s most emotional and sustainable electric
vehicles, is preparing to incorporate the sale of emission credits
into its overall business strategy in the United States. The
company has already entered into an agreement to sell credits to a
major automaker at competitive rates.
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the full release here:
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The Fisker Ocean all-electric SUV will
generate emission credits in the US. (Image credit: Fisker
Inc.)
“We are excited that as an all-electric startup, we can offer
other carmakers competitive choices to obtain emission credits and
remain in compliance with regulations in the US,” Chairman and CEO
Henrik Fisker said. “We have been looking forward to participating
in the emission-credits market since we founded Fisker Inc. in
2016.”
Fisker will start US deliveries of the all-electric Fisker Ocean
later this month. The Fisker Ocean Extreme has received both an EPA
Certificate of Conformity (CoC) and a California Air Resources
Board (CARB) Executive Order, approving the vehicle for sale and
delivery in all 50 US states and the District of Columbia.
Fisker’s emission credit strategy is detailed below.
US Emission Credits
The California Air Resources Board has confirmed that both
Fisker Ocean One launch edition and the Fisker Ocean Extreme,
thanks to a best-in-class range of 360 miles1 on standard 20-inch
wheels and tires, will generate the maximum allowable credits per
vehicle – 4.0 ZEV credits – for units sold in California as well as
in over a dozen other US states that have adopted California’s
environmental standards. Automakers can purchase these credits to
help avoid a non-compliance penalty of up to $5,000 per
violation.
In addition, the National Highway Transportation Safety
Administration (NHTSA) sets forth annual target measurements for
miles per gallon, pursuant to the requirement set forth in the
“Corporate Average Fuel Economy” (CAFE). Automakers generate a
credit for each tenth of a mile of overcompliance. Based on 2023’s
target measurement, each Fisker Ocean sold will generate
approximately 395 credits. The penalty for noncompliance is $15 per
credit, and carmakers again can purchase credits to offset the
penalty.
The EPA also established Tier III emission requirements in 2014.
As part of that program, it instituted a credit-based system for
non-greenhouse gas (GHG) emissions, including oxides of nitrogen
and non-methane organic gases (NMOG+NOx credits). For model years
2023 and 2024, Fisker expects to generate significant credits.
The EPA has established greenhouse gas requirements for new
vehicles. Based on 2023 GHG requirements, each Ocean will generate
approximately 159 credits per vehicle sold. The EPA does not have a
standard penalty for noncompliance. California administers its own
GHG program, which is like the EPA’s GHG program.
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 launch timing, pricing, delivery,
and estimated range of the Fisker Ocean, the planned timing of the
opening of Fisker facilities, the Company's future performance, 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230606005981/en/
European Media: Press.europe@fiskerinc.com
US Media Fisker@GODRIVEN360.com
Customer service: Support@fiskerinc.com
Fisker Inc. Communications:
Matthew DeBord Sr Director, Communications Strategy &
Storytelling 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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