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SK ● ● Fisker Inc. Announces First Quarter 2021 Financial Results MAY 17 , 2021 Q1 2021 results in - line with expectations . Cash balance of $ 985 million . Increasing full - year operating expense guidance range by $ 30 million to include PEAR program costs ( explicitly excluded from prior guidance ) . Capital expenditure guidance unchanged . Majority of Fisker Ocean Bill of Material ( BOM ) now sourced , improving cost visibility across the entire model range at targets previously communicated . Foxconn binding agreement completed and initial production in U.S. confirmed . Design of PEAR vehicle locked and program concept phase kicked off . Several suppliers already nominated and the program is benefiting from meaningful supply chain synergies with Ocean . Reservations total more than 16,000 as of today . More than 50 % of reservation - holders are from outside the SUV segment , indicating a potentially larger addressable market than expected . Talent acquisition accelerated in 2021 , with a total of 203 full - time employees onboard as of today , compared to 101 as of December 31 , 2020 . LOS ANGELES , C.A. -- Fisker Inc. ( NYSE : FSR ) ( “ Fisker " ) -- passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions -- today announced its financial results for the first quarter ended March 31 , 2021 . " Confidence in our business model grows by the day , " stated Henrik Fisker , Chairman and Chief Executive Officer of Fisker . " Our unique product development process continues to benefit us in several ways : 1 ) The Fisker Flexible Platform - Adaptive Design process begins with design and engineering working in harmony and allows for no wasted time ; 2 ) We are able to source advanced technology later in the process for an ultra modern product ; and , 3 ) Active senior leadership involvement avoids bureaucratic delays and enhances speed - to - market . The Fisker Ocean program remains on - track , and our growing , hand - selected team is incredibly excited to be moving to the next phase , with high visibility on a BOM and cost of manufacturing that supports great value for our customers , and benchmark profitability for our stakeholders . " " The advantage of our partnerships with Magna and Foxconn is undervalued , " Fisker continued . " Our manufacturing partnership strategy began as a way to de - risk production cost , timing , and quality , enabling Fisker to focus efforts on customer - facing areas . The addition of a second platform and influential supplier has created a major supply - chain advantage as well . We are already seeing evidence of better access and pricing for high - value technology shared across programs ( e.g. , battery , high performance chips , displays , etc. ) , and we are already benefiting from the influence of each partner to ensure supply of critical components such as chipsets and semiconductors . "