CATL to Supply Double Battery Pack of NMC and LFP for Fisker

Fisker Inc. (NYSE: FSR) (“Fisker”) and Contemporary Amperex Technology Co Ltd (SZSE: 300750) (“CATL”) today announced a formal agreement cementing battery capacity for the Fisker Ocean SUV.

Under the terms of the agreement, CATL will supply two different battery solutions for the Fisker Ocean SUV, with an initial battery capacity of over 5 gigawatt-hours annually, from 2023Y-2025Y. The primary high-capacity pack uses a lithium nickel manganese cobalt (NMC) cell chemistry with the second high-value pack offering CATL’s latest cells based on lithium-ion phosphate (LFP) chemistry. Fisker and CATL teams have been working seamlessly together in close collaboration since 2020 to develop class leading Fisker battery solutions optimized for vehicle structure, crashworthiness and very high levels of energy density. Currently, the teams are engaged in extensive testing and validation at the pack and vehicle level.

“Securing this supply agreement with CATL is another important step in the development of the Fisker Ocean and achieving our battery performance objectives,” said CEO and Chairman, Henrik Fisker. “By utilizing multiple chemistries and designing an extremely efficient pack, we will be able to achieve our targeted driving range for the Fisker Ocean Sport and bring segment benchmark-driving range to the longer-range versions of Fisker Ocean.”

“As CATL expands its global footprint to help create clean mobility for all, we are delighted to reach long term collaboration with Fisker and provide battery technology that is unique to Fisker’s product rollout. We are excited to support Fisker to reach its sustainability, performance and growth targets,” said CATL President, Zhou Jia.

In addition to meeting the demanding packaging requirements for the Fisker Ocean program, the Fisker Ocean battery packs have additional features that permit direct charging from the optional solar roof, using an innovative engineering integration strategy. Further, both battery pack solutions are engineered to support peak charging powers of more than 250 kilowatts.

Commenting on this announcement, Daniel Foa, senior advisor to Fisker who will serve as supervisor of the company’s China entity upon formation, said: “Having CATL and Fisker join forces on battery technology demonstrates the strategic intent of both companies to take leadership in the future of electric mobility.”

Fisker remains on target to start production and deliveries of the all-electric Fisker Ocean in November 2022 – and to unveil the production-intent version, including additional battery specifications and product features, on Nov. 17, 2021 at the Los Angeles Auto Show.

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