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Fisker and Onto Sign Agreement for Delivery of up to 700 Vehicles in 2023 to Support Growth of Next Generation EV Mobility

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  • Fisker to supply Ocean SUV to UK-based electric car subscription service, Onto.

  • Onto will be the exclusive partner of Fisker, offering the Ocean SUV on a monthly subscription.

  • Fisker to commence deliveries of right-hand-drive Ocean into the UK market within the first half of 2023. Fisker experience center in London projected to open during 2022.

Fisker Inc. (NYSE: FSR) (Fisker) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today announced a partnership with Onto, the UK-based all-inclusive electric car subscription service for private and business users. The agreement, the first multi-vehicle reservation for Fisker in the UK market, supports the delivery of up to 700 vehicles in 2023. Onto will not only be Fisker's first customer in the UK, but also the exclusive rental/subscription partner for 2023.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210518005778/en/

Fisker Inc. (NYSE: FSR) (Fisker) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today announced a partnership with Onto, the UK-based all-inclusive electric car subscription service for private and business users. The agreement, the first multi-vehicle reservation for Fisker in the UK market, supports the delivery of up to 700 vehicles in 2023. Onto will not only be Fisker's first customer in the UK, but also the exclusive rental/subscription partner for 2023. (Photo: Business Wire)

Onto, founded in 2017, is an innovative technology-driven enterprise that provides easy access to electric vehicles through their all-inclusive subscription service. Through a monthly subscription, customers get the latest EVs with insurance, public charging and servicing all included. With an active fleet of more than 3000 vehicles in operation with both private and business customers across the UK, Onto has pioneered new ways to enable drivers to access electric vehicles without the need for lengthy lease contracts.

"We are seeing the rapid growth of innovative companies like Onto that are enabling the transition to electric mobility," commented Fisker Chairman and Chief Executive Officer, Henrik Fisker. "Our focus for business-to-business reservations is on high-quality companies that share our commitment to deliver an outstanding customer experience. Our partnership with Onto is a significant step in rapidly building our presence in the UK electric vehicle market."

Rob Jolly, CEO and co-founder of Onto comments: "We’re thrilled to be partnering with Fisker to offer our customers even more choice when it comes to driving an Electric Car. Fisker’s impressive goals for electrification, coupled with their reputation for always introducing the latest technology, match our own and we are excited to go on this journey with them. Onto subscribers will be able to enjoy all the benefits of the impressive Fisker Ocean together with our hassle-free service."

In December 2020, Fisker announced a partnership with Cox Automotive and Rivus for delivery, servicing, fleet management and reselling programs in the United Kingdom. The Fisker Ocean SUV is being engineered for both left and right-hand-drive versions, with deliveries projected to start in the UK during the first half of 2023.

The company had also previously confirmed that the first Fisker experience center in the UK would be opened in London during 2022. The global reveal of the Fisker Ocean will be at the Los Angeles Auto Show® in November 2021 – with start of production and deliveries of left-hand-drive versions in Q4 2022.

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.

About Onto

Onto was co-founded in 2017 by Rob Jolly and Dannan O’Meachair and provides an accessible, easy, and affordable way for motorists to join the EV revolution, without a long-term commitment. In the last four years, Onto’s new and innovative car subscription service has proved a hit with consumers – enabling many to move away from the traditional internal combustion engine. Since 2018, Onto has expanded rapidly, partnering with new charging and electric car providers as more EVs become available to suit all budgets. Subscriptions can be taken out from as little as a month and Onto currently offers 17 models ranging from the 2021 Volkswagen e-up! at £339 per month to the 2021 Hyundai Kona Ultimate 64kwk at £589 per month and the 2021 Audi e-tron 55 Quattro Black Edition at £1299 per month.

Media enquiries

For Onto media enquiries please contact press@on.to.

Forward-Looking Statements

This press release includes forward-looking statements, which are subject to 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 and include, among other things, the quotations of our Chief Executive Officer and statements regarding 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 other OEMs 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") 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/20210518005778/en/

Contacts

Dan Galves, VP, Investor Relations
dgalves@fiskerinc.com
FiskerIR@icrinc.com

Rebecca Lindland, Director, Communications
rlindland@fiskerinc.com

Simon Sproule, SVP, Communications
310.374.6177
Fisker@GoDRIVEN360.com

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