Henrik Fisker speaks at Morgan Stanley’s 10th Annual Laguna Conference providing updates on Fisker Ocean, PEAR and RŌNIN.
Today, Henrik Fisker attended a fireside chat at the Morgan Stanley 10th Annual Laguna Conference at the Ritz Carlton hotel in Laguna Beach. He was joined by Adam Jonas, Morgan Stanley’s Head of Global Auto & Shared Mobility Research. During the fireside chat, Henrik briefly talked about the company’s overall business strategy and provided updates on the Fisker Ocean, PEAR, and RŌNIN.
Highlights from the Investor Conference
It is worth a listen to the entire exchange between Henrik Fisker and Adam Jonas. However, here are the highlights and our notes from the investor conference. If you think we missed an important point, please leave your thoughts in the comments below.
Fisker Ocean
- Official start of production for the Fisker Ocean is November 17, 2022 when Magna Steyr will begin making sellable vehicles.
- Fisker Ocean will start delivery shortly after start of production.
- Henrik talked about stress testing the software and running final tests right now; will be finished at start of production.
- US production of Fisker Ocean could start early 2024 before Fisker PEAR; will know more in next couple of months.
- Fisker Ocean is priority number one.
- Fisker has enough capital to get the Fisker Ocean fully launched, ramped up, and into revenue next year.
- Analysts and journalists to be invited to Graz, Austria to test drive the Fisker Ocean in early November.
Magna
- Magna has already begun producing vehicles including the first Fisker Ocean to roll off the high volume assembly line.
- Magna will continue to build vehicles for marketing purposes and to learn to become as efficient as possible.
- Magna is a manufacturer and supplier for Fisker Ocean seating, lighting, etc. helps supply the parts for the Fisker Ocean.
- Magna Steyr will get all the energy it needs with energy crisis in Europe.
- Magna Steyr runs mainly on hydroelectric power.
- Fisker can scale to 70,000 units with Magna Steyr in Graz, Austria without any additional capital (i.e., an extra shift at current plant).
- Building several marketing cars for Fisker and they will be shipped to the US before start of production.
Fisker PEAR
- When asked about the Fisker PEAR, Henrik said it will be, “The craziest car you will ever see in your life.”
- It is “crazy” because it is was designed around user scenarios to be the “best vehicle on the planet for food delivery” and European mega cities.
- Henrik thinks they will build 1,000,000 PEARs in the future.
- Zero movable parts in the interior accept for the seats; taking so much cost out of the vehicle, but it will include a 17.1″ display.
Miscellaneous
- Fisker has always been looking at how to localize supply chain, which helped the company navigate supply chain issues.
- Fisker will complete a joint venture with some company to make batteries here in the US; decision about battery joint venture by end of year, latest Q1 2023.
- When asked about the Fisker RŌNIN, Henrik said it will be “The sexiest car in the world.”
- Henrik confirmed today, the Fisker Ocean will be the first electric vehicle to 70% of Fisker customers.
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