Fisker has strengthened its deal with Magna International and signed a binding agreement that will allow it to compete with the ever-growing array of electric car manufacturers.
Through the partnership, production of the all-electric Fisker Ocean is projected to start on November 17, 2022 at Magna’s carbon-neutral manufacturing facility in Graz, Austria.
The agreement covers planned volumes, manufacturing costs, quality metrics, and critical planning and launches phases, and encompasses all facility investments including a bodyshop that will support the Ocean program through 2029. In addition, the contract will provide the opportunity to increase volumes of the Ocean should it be necessary while also creating other models based on the architecture co-developed by Fisker and Magna.
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“Our complete vehicle systems approach, combining all elements of our portfolio, makes Magna’s proposition highly competitive – in capital efficiency, launch reliability and speed to market,” Magna Steyr president Frank Klein said in a statement. “Our collaboration with Fisker is an excellent example demonstrating the unique capabilities Magna offers as the go-to supplier when it comes to delivering world-class technologies and vehicles for our customers.”
Underpinning the Ocean will be a version of the Magna-developed electric vehicle architecture that is modified to create the new FM29 platform. Fisker intends to sell it in the United States at a starting MSRP of $37,499 before EV-related subsidies, while prices in Germany will sit below €32,000.
“Our asset-lite model, reinforced by partners like Magna, is powering Fisker towards its planned delivery of the Ocean with features and functions exceeding our original aspirations,” added Henrik Fisker. “From our co-located manufacturing team in Austria to our software engineers in San Francisco, Fisker is scaling rapidly to deliver a range of world-class, sustainable products and services.”
