Electric vehicle startup Fisker Inc. has set a moonshot goal of creating its first climate-neutral car by 2027. Fisker has yet to bring a vehicle to market — climate neutral or not — making this an ambitious target. According to CEO Henrik Fisker, the all-electric Fisker Ocean SUV, which is still on track to go into production in November 2022, will not be climate neutral. He laid out the target as part of a broader update Tuesday to investors. Instead, this will be another yet-to-be-announced vehicle.
Henrik Fisker, a serial entrepreneur who rose to fame as the designer behind iconic vehicles like Aston Martin V8 Vantage, the Aston Martin DB9, and BMW Z8 roadster’s production launch design, also provided a few other updates during the investor call. He said the Ocean would have an anticipated range of up to 350 miles, beyond the previously estimated 300 miles. According to an annual report distributed to shareholders, the company has received more than 14,000 reservations for the Ocean as of March.
Fisker, which went public via a merger with unique purpose acquisition company Apollo Global Management Inc. in October at a valuation of $2.9 billion, aims to have four vehicles to market by 2025. One of those, Fisker hinted at Tuesday, could be a luxury vehicle he called the “UFO” that will use the company’s FM29 platform architecture.
Fisker’s carbon-neutral plan
Other companies across industries have made promises to hit that carbon-neutral goal before. Henrik Fisker emphasized to investors that the company will not purchase carbon offsets to accomplish that climate neutrality goal. Carbon offsets are credits that companies can buy to “claim” a reduction in CO2 toward their project or product. Instead, Fisker said they would work with suppliers to develop climate-neutral materials and manufacturing processes. The company lays out some of its proposed strategies on its website.
It splits the vehicle lifecycle into five phases: upstream sourcing, manufacturing and assembly, logistics, the use phase, and end-of-life; for each step, the company lists a few bullet points, such as localizing manufacturing. Even with these plans, achieving climate neutrality in vehicle production will be extremely difficult. Vehicles use materials and components such as steel that are notoriously hard to decarbonize, for example.