Frank Boroch: Thank you. We’ll start with some of the questions from the retail community. Question one. Are there any updates in regards to U.S manufacturing plans with Foxconn? And while it’s anticipated that the PEAR and Alaska will be built in the U.S., are there plans for the Ocean to be built in the U.S so that all Fisker vehicles can be eligible for the federal tax incentive?
Henrik Fisker: Yes, thanks, Frank. So let me touch on Foxconn, like I mentioned during the earnings call, I am in contact with Foxconn. And I will say we have to finalize an agreement for manufacturing this year. So I am quite optimistic that we are very close to finalizing agreement. Obviously, we will announce it when it’s done. It is a complex agreement. But it’s definitely in his end phase. When it comes to — and by the way, it goes to the same with Alaska. We are talking to Foxconn about Alaska as well. But we are also talking to some OEMs, about sharing the Alaska platform and potentially building in their factory in the U.S. So that’s still on the table. I expect we will have to make these decisions very soon. On the Ocean, it will depend where we end up with Alaska, for example, because it can be synergies there.
But we are already looking at potential ways we can manufacture the Ocean here in the U.S. And yes, we need to manufacture eventually here because we will — it’s more sustainable. It will cut down on the transport times. We’ll make more money on it. So absolutely there’s something that we eventually will do.
Frank Boroch: Thank you. The next question is we’ve heard talk of a slowdown in EV sales with companies like some of the Detroit brands reducing their production forecasts. Is Fisker prepared for a market that’s slowing down? And what measures is it taking to protect its interests?
Henrik Fisker: So I think first if you look at the big picture, what really happened there was a lot of excitement about EVs two, three years ago, maybe even longer four years ago, and some companies brought out EVs, because it was probably the impression that as long as you had an EV it would sell. I think reality is that there was not many EVs that came out that had segment leading features. So why would you buy some of these new EVs when there was other EVs on the market that still were better. I think that’s what we have seen. However, with the Ocean, we have a segment leader. We have the longest range of any SUV sold in either Europe or U.S in our class. And that is a segment leader. And now there’s a reason to buy an ocean.
Secondly, as I mentioned earlier, we have features that nobody else have that a lot of our customers love, California mode, solar, etc. And if you want these features, there’s only one car you can buy and that’s the Fisker ocean. And I think that’s why we see continued demand. Of course, what are we doing, if for whatever reason, the demand would slow? Well, as Geeta mentioned, our vehicle is homologated globally, actually. So we are going into Canadian market this year, we are expanding in Europe, we just expand into three new markets in Europe about a month ago, starting delivering there. And in first quarter next year, we are expanding into several other European markets, we are not in yet, for example, Spain and Italy. And we still have many markets in Eastern Europe as well.
We do have basically importers for regions, we normally wouldn’t go in asking us to become importers of those regions. So that’s another area we could take. Finally, we have announced going into China next year. So all these new markers actually helps us keeping the momentum and the growth. So I don’t see really for us at this point in time, a lack of demand and a lack of possibilities to expand our geography and I want to mention something else. Very important. We have a vehicle that is in the U.S considered a compact SUV, in Europe, and China it’s probably more of a medium size. It is a universal product that sells globally. If you’re sitting — if I was sitting on a full size pickup truck would be great for the U.S., but probably couldn’t sell it anywhere else in the world.
It was sitting on a full size SUV, same issue. Very few people buy full size SUVs outside U.S. But we have a global product. And I think we have shown it. So our main issue now is we got to figure out how do we get it as fast as possible to our customers, meaning in big, big bundles and not just 100 a day. We got to get to our 300 a day as fast as we can. And we’ve already put that in motion, and I expect that we’ll get there very soon.
Frank Boroch: Great. And the last question from the retail community. With deliveries delayed, how is Fisker addressing customer support? And how fast can Fisker reps reach customers when a driver has questions?
Geeta Gupta-Fisker: Well, so we, of course, recognize, as I mentioned in my script earlier, that we have a gap in our service and delivery infrastructure. The first thing we’ve done is in terms of our marketing sales and service employees, it’s actually increased more than 4x since the end of 2022. So we are hiring in every area. We are hiring in home delivery, Fisker Direct, a team that delivers vehicles to you. We are also ramping up our real estate initiatives. We increased the number of our delivery partners. In addition to that, we have also set up a call center where customers can call in and ask questions about their delivery and ask questions about their service. We actually have currently an initiative ongoing in the company called Excellence in Service, where we have put a group of experts together to look at how they can reach out to all the customers because we still are obviously in the thousands — still in the single-digit thousands, and to make sure that if there are pending accessories or if there’s any area that we need to support customers with, including any software upgrades or any questions about the vehicle or any dents or scratches the customer needs help with or any usability issues, we are constantly informing and engaging the customers.
So all customers may not have received a phone call, but every customer will as this task force embarks on making sure that all our customers are heard. We are also in the journey of hiring mobile techs all over the country. We already have a very substantial pool of technicians, almost bordering to 75 technicians, and this will keep growing so we can serve our customers no matter which part of — which state you’re in or which part you’re in, as long as our mobile techs have their toolkits and a computer and they have the ability to repair your vehicle. We have partnered with various body shops across the country, so if there are any cosmetic issues, those can easily be dealt with. We are currently utilizing a global network with a third-party called ADESA.
But as I mentioned earlier, we have our own locations coming live, which will also have capabilities of service. Now we typically do not expect customers to come to our facilities, and we will come to you, pick up your vehicle. But certain facilities will also allow customers to visit if that is more convenient. Now our remarkable team continues to work around the clock to bring our world-class vehicles. And again, I want to remind everybody that we have a 1-844 number where customers can call to receive immediate assistance or they can also e-mail their queries typically.
Frank Boroch: Thank you. Operator, please go to the line for the next question.
