Fisker's NACS Adoption and Potential Tesla Partnership

During the company’s latest earnings call, Fisker provided an update on its adoption of NACS and potential collaboration with Tesla.

In the dynamic world of electric vehicles, staying updated with the latest developments is crucial for investors and enthusiasts alike. Earlier today, we had the opportunity to tune in to Fisker’s Q2 2023 earning call, where the company shared some intriguing insights that weren’t included in their regular quarterly earnings announcement. One of the most exciting takeaways was an update on Fisker’s adoption of the North American Charging Standard (NACS). Dr. Geeta Gupta-Fisker, the company’s CFO and COO, provided an update regarding Fisker’s charging network relationships and plans for expansion.

A Powerful Question from Fiskerati Forums

One Fiskerati Forums member posed an important question regarding Fisker’s discussions with Tesla about using the Supercharger network. This question gained significant traction, receiving an impressive 232 votes represented by 851.3K Fisker (NYSE:FSR) shares. It was the third most voted question, and ranked second for being represented by the most shares. The interest in this topic reflects the growing importance of charging infrastructure in the EV ecosystem and how collaboration between industry players could shape the future of electric mobility.

Fisker’s Charging Network Partnerships

Charging our Fisker Ocean at Electrify America's DC Fast Charging station this past week (Palm Springs, CA). — Charging our Fisker Ocean at Electrify America’s DC Fast Charging station this past week (Palm Springs, CA).

Frank Boroch, Fisker’s VP of Investor Relations and Treasury, raised the important question from the retail Q&A platform. He asked about Fisker’s charging network relationships and expansion plans. He said, “There’s been a lot of discussion and news from other automotive brands about charging networks. Can you update us on Fisker’s charging network relationships and any plans for expansion?”

In response, Dr. Geeta Gupta-Fisker, the company’s CFO and COO, shed light on the current partnerships and their significance for customers. She shared that Fisker has already established public charging partnerships with ChargePoint in North America and Deftpower and Allego in Europe. That much we already knew. These partnerships are aimed at providing Fisker’s customers with extensive charging coverage, both regionally and globally. Offering charging options at convenient locations is vital to encourage more people to adopt electric vehicles and alleviate range anxiety.

Competition and Innovation in Charging Standards

Dr. Gupta-Fisker emphasized the importance of charging standards in driving innovation and improving the overall customer experience. Europe has already adopted a common charging standard, which has helped streamline charging infrastructure development on the continent. However, the situation is different in the United States, where competing standards exist.

Despite the competition, Fisker remains open to discussions with all potential partners to expand its charging network coverage. Dr. Gupta-Fisker highlighted that having multiple options for charging fosters competition, which, in turn, stimulates innovation and benefits customers. The company’s ultimate goal is to ensure that Fisker owners have easy access to charging, whether it’s at their homes or on the go. She went on to share that Fisker is, “very open to discussing charging with all potential partners. We believe the more coverage, the better for the customer and for expanding EV adoption in general.”

The Waiting Game with Tesla

The most intriguing revelation during the call was about Fisker’s fully drawn-up agreement for the NACS, awaiting only Tesla’s signature. Since NACS is an open standard, this agreement indicates the potential for Fisker to utilize Tesla’s Supercharger network, a move that could significantly enhance charging convenience for Fisker EV owners.

However, Dr. Gupta-Fisker emphasized that any decision would be made with the customer’s best interests in mind. Fisker remains committed to doing what is right for their customers, even if it means not utilizing the Supercharger network. The focus is on fostering EV adoption and providing seamless charging experiences. We couldn’t be more delighted with this update based on our own DC Fast Charging experience over the past week.

Fisker’s Q2 2023 earning call provided valuable insights into the company’s charging network strategy and NACS adoption. By partnering with leading charging providers and remaining open to collaboration, Fisker aims to expand charging infrastructure and make electric vehicles more accessible to all. As we eagerly await further developments and potential agreements with Tesla, one thing is clear: Fisker’s commitment to its customers’ needs will continue to drive innovation in the EV industry.

In Dr. Geeta Gupta-Fisker’s Words…

“Yes. So we’ve announced our public charging partnerships, ChargePoint in North America and Deftpower and Allego in Europe to provide our customers with broad coverage. And it’s really encouraging to hear the various announcements about expanding fast charging network across North America. We’re very open to discussing charging with all potential partners. We believe the more coverage, the better for the customer and for expanding EV adoption in general. It’s important for our customers to have access to charge both at their homes and on the go. Europe has a common standard, but U.S. has competing standards. We believe competition advances innovation and it helps improve the customer experience. I understand there’s a lot of anxiety if we have any discussions with Tesla to use the supercharger network, we absolutely will do whatever is the right thing for our customers, whatever supports our customers from our standpoint, we have a fully drawn up agreement Fisker has signed the NACS agreement. We’re just waiting for a signature from Tesla.”
Geeta Gupta-Fisker, Co-Founder, CFO, and COO, Fisker Inc.