Fisker and Crédit Agricole Consumer Finance Sign a Green Memorandum of Understanding for Delivery of Fisker Ocean Electric Vehicles

March 26, 2021 7:00 AM EDT

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  • Agilauto, a division of Crédit Agricole Consumer Finance in France, to offer Fisker Ocean through programs for Crédit Agricole Group employees and the private banking market, reinforcing company’s commitment to zero emission vehicles

LOS ANGELES & PARIS--(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 has signed a Memorandum of Understanding* with Crédit Agricole Consumer Finance, part of the Crédit Agricole Group – the leading financial partner to the French economy and one of the largest banking groups in Europe – for the potential supply of Fisker Ocean SUVs.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210326005089/en/

Fisker Inc. (NYSE: <a href=FSR) (Fisker) – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles and advanced mobility solutions – today announced it has signed a Memorandum of Understanding* with Crédit Agricole Consumer Finance, part of the Crédit Agricole Group – the leading financial partner to the French economy and one of the largest banking groups in Europe – for the potential supply of Fisker Ocean SUVs. Under this Memorandum of Understanding, Agilauto will be able to purchase Fisker Ocean SUVs for use by eligible employees and selected private banking clients of the group, with delivery projected to commence from January 2023. (Photo: 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 has signed a Memorandum of Understanding* with Crédit Agricole Consumer Finance, part of the Crédit Agricole Group – the leading financial partner to the French economy and one of the largest banking groups in Europe – for the potential supply of Fisker Ocean SUVs. Under this Memorandum of Understanding, Agilauto will be able to purchase Fisker Ocean SUVs for use by eligible employees and selected private banking clients of the group, with delivery projected to commence from January 2023. (Photo: Business Wire)

Under this Memorandum of Understanding, Agilauto will be able to purchase Fisker Ocean SUVs for use by eligible employees and selected private banking clients of the group, with delivery projected to commence from January 2023.

“We welcome the commitment being shown by Crédit Agricole Consumer Finance towards enabling greater access to zero emission mobility for their employees,” said Fisker Chairman and Chief Executive Officer, Henrik Fisker. “60% of new vehicle sales in Europe are through business-to-business transactions, and we are ready to partner with forward-thinking companies like Crédit Agricole Consumer Finance as the market moves increasingly towards electrification.”

“We are proud to act for transformation to low-carbon mobility, as part of Crédit Agricole Consumer Finance’s sustainability strategy,” said Agilauto Sales Director, François ASCHEHOUG (Crédit Agricole Consumer Finance). “The Fisker Ocean will give our employees and the private banking market access to latest generation technology and performance while reinforcing our commitment to a low-carbon fleet.”

Fisker is projected to start production on its first vehicle, the Ocean electric SUV, in Q4 2022. The Fisker Ocean will initially be manufactured in Europe and sold across multiple markets in Europe and North America. Interest in the vehicle continues to build at an encouraging pace, with global paid reservations now standing at more than 14,000.

* The Memorandum of Understanding is non-binding with the parties intending to negotiate a definitive agreement.

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.

About Crédit Agricole Consumer Finance

Crédit Agricole Consumer Finance, Crédit Agricole SA's consumer credit subsidiary, distributes a broad range of consumer credit and related services (in France, principally through its commercial trademarks Sofinco, Viaxel and Creditlift Courtage) for distribution channels as a whole: direct sales, point-of-sale financing (automotive and home appliances) and partnerships. Alongside large companies in distribution, specialist distribution and institutional players in the 19 countries where it is present, CA Consumer Finance offers its partners solutions that are flexible, responsible, and adapted to their needs and those of their clients. Excellent relationships, local accountability and social commitment are the pillars that make CA Consumer Finance a group acting in the interests of its clients and of the company on a day-to-day basis. As of 31 December 2020, CA Consumer Finance managed €91 billion in outstanding loans.

Learn more: www.ca-consumerfinance.com

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 under "2021 Business Outlook" 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 Registration Statement on Form S-1 (No. 333-249981) 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.

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

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

Source: Fisker Inc.



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