In its second quarter 2022 report, Fisker affirmed the expected timing plan for Fisker Ocean start of production (SOP) on 17 November 2022. 5,000 pre-orders are fully sold out for the launch edition Fisker Ocean One, secured by $5,000 down payments. The Fisker Ocean One will be fully loaded with all the features of the Fisker Ocean Extreme plus signature qualities.

Throughout 2023, Fisker will prioritize and manufacture all Fisker Ocean One and Extreme orders, with additional capacity then allocated to Fisker Ocean Ultra and Sport trims.

Fisker Ocean reservations totaled over 56,000 as of 1 August 2022 (net of cancellations), including the 5,000 Fisker Ocean One pre-orders. This compares to 45,000 as of the Q1 2022 earnings call and 31,000 as of the Q4 2021 earnings call.

Magna has built 55 complete Fisker Ocean prototypes in its production facility and Magna continues to build additional prototype vehicles. Ongoing testing includes crash, safety, powertrain, high and low-speed features, and more. Several prototypes made their way to Magna Electronics in Michigan for ADAS testing. Fisker and Magna’s joint test program aims to deliver high-quality vehicles right from the start of production (SOP).

As Fisker Ocean enters pre-production, the company has intensified its rapid product development plan. Fisker added Alpay Uguz as Senior Vice President of Global Manufacturing who, in collaboration with senior management, will oversee strategy towards the goal of producing one million vehicles per year by 2027.

Fisker partner Foxconn completed its acquisition of an operational 6.2 million-square-foot vehicle manufacturing facility in Ohio. Fisker and Foxconn will build Fisker’s second vehicle, the Fisker PEAR, using the Fisker-developed SLV1 platform, at this factory. The Fisker PEAR will start production in 2024 with an expected base price below $30,000. Fisker and Foxconn intend to build a minimum of 250,000 PEAR vehicles per year once the plant ramps up production.

The PEAR will sit on a new Fisker platform with a new electrical architecture, incorporating new advanced ADAS technology. Project Ronin will be Fisker’s third vehicle, following the Fisker Ocean and Fisker PEAR. Developed at Fisker Magic Works in the UK, the all-electric sport Grand Tourer will feature innovations such as a battery pack integrated with the vehicle’s structure to increase the battery volume.