Fisker Confirms Banking Relationship with JPMorgan Chase

Fisker officially confirms they have no affiliation with Silicon Valley Bank as the company says they’ve received several media inquiries about its banking relationships.

Fisker Oceans on icy roads in Sweden undergoing Winter testing.

Today, Fisker confirmed the company’s global banking and treasury management relationship with JPMorgan Chase. Fisker said JPMorgan Chase provides them strategic financial strength as they prepare to launch the Fisker Ocean. Up until now, we haven’t really known too much about Fisker’s banking relationship. We mentioned this briefly last night on All-Things Fisker: Episode 19.

In light of recent turbulence in the banking sector, Fisker said they have no affiliation with Silicon Valley Bank (SVB). The startup-focused lender, a regional bank in California, failed last week. The bank was recently placed in receivership by the FDIC.

“Amid turmoil in the banking sector, Fisker’s relationship with JPMorgan Chase provides us with strategic financial strength as we launch our first vehicle, the Fisker Ocean.”

Henrik Fisker, Chairman & CEO, Fisker Inc.

Over the weekend, Henrik briefly mentioned Fisker does not do business with SVB. However, Fisker expanded on this response earlier this morning in a press release. He added that Fisker has no relationship with SVB. According to Fisker, they have received several media inquiries about its banking relationships. The company considers it important at this time to remind stakeholders of its relationship with JPMorgan Chase.

If you recall, JPMorgan Chase will offer retail financing through Fisker Finance to customers in the United States. Fisker is working with Santander Bank to serve as the company’s primary financing partner in Europe. Fisker announced these relationships at their 2022 Annual Shareholder Meeting. Also, the company will work with Santander Consumer Finance in Europe.

Fisker revealed some financing options in their Ocean Price Estimator earlier this month with the release of their enhanced website. Fisker Finance will likely be released in Q2 2023 for customers to secure financing for the purchase of their Fisker Ocean.

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