Fisker Targets Delivery of Climate Neutral Vehicle By 2027

Fisker Inc. (NYSE: FSR) (Fisker) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today stated its aim to produce a climate neutral vehicle by 2027. In line with its environmental, social and governance (ESG) strategy announced on May 6, 2021, Fisker will not purchase offsets to achieve this goal. The company seeks to utilize only climate neutral materials in products and use only climate neutral services to support the business.

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Fisker Inc. (NYSE: FSR) (Fisker) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today stated its aim to produce a climate neutral vehicle by 2027. In line with its environmental, social and governance (ESG) strategy announced on May 6, 2021, Fisker will not purchase offsets to achieve this goal. The company seeks to utilize only climate neutral materials in products and use only climate neutral services to support the business. (Photo: Business Wire)

"We plan to radically disrupt the mobility industry by setting an ambitious goal for ourselves: to produce a climate neutral vehicle by 2027. We put people and the planet at the forefront of our mission, ensuring a cleaner future for all," says Fisker Chairman and CEO, Henrik Fisker. "The company recognizes the challenges of producing and delivering products without creating greenhouse gas (GHG) emissions. The supply chains of suppliers and logistics partners may contain offsets to achieve climate neutrality."

To understand the true environmental impact of its products and achieve a climate neutral vehicle, Fisker will continuously analyze, study, measure and innovate all five phases of a vehicle life cycle. These include sourcing, manufacturing, logistics, use phase and end-of-life recycling and reuse.

Enhancing this effort is the company's proprietary product development system known as Fisker-Flexible Platform Adaptive Design (FF-PAD), which drives continuous improvements across critical areas of product development. These include minimizing the Bill of Materials (BOM), developing emission-free products with finished goods suppliers, maximizing the use of rail and electric-powered transport and reducing combustion and energy intensity in recycling. Fisker is working closely with manufacturing partners Magna and Foxconn to support this initiative.