Fisker inks EV production deal with Magna in Europe

US electric vehicle start-up Fisker Inc has entered “platform-sharing” and initial manufacturing agreements with Canadian mobility technology company Magna International, which means that the Fisker Ocean electric SUV will be manufactured exclusively by Magna in Europe.

Fisker intends to reveal the production version of its all-electric Fisker Ocean SUV at the 2021 Los Angeles Auto Show in May, with production to follow late in 2022.

“I’m very pleased to have closed this definitive agreement, as planned, following the signing of the original framework deal,” said Fisker Chairman and Chief Executive Officer, Henrik Fisker (PDF).

“The Fisker and Magna teams are working literally around the clock to ensure we can keep our rapid development program on track towards the delivery of the all-electric Fisker Ocean SUV, projected to commence in Q4 2022.”

Magna International currently produces several high-quality vehicles on behalf of global brands in Europe – including for BMW, Daimler, Jaguar Land Rover, and Toyota.

The Fisker Ocean SUV will be built around a modified version of a Magna-developed EV platform.

“To suit our requirements for the Ocean and other vehicles, we are redesigning the front-end structure and both lengthening and widening the platform,” Fisker said.

“FM29 provides us the flexibility to accommodate a large battery, increase occupant space and enable the signature Fisker wide vehicle stance, while delivering purchasing cost efficiencies to bring the Ocean to market at a starting price below $US40,000.”