LA-based EV startup Fisker Inc. has signed a long term agreement with Magna Steyr.
Following the unveiling of the Fisker Ocean SUV at the Consumer Electronics Show (CES) back in January 2020, Fisker has been relatively quiet about production details for their first vehicle. Then in October, they revealed that Magna Steyr, the Austrian subsidiary of Magna International, would be producing the Ocean. Production is set to start on November 17 2022.
Canadian-based Magna International is a supplier of various parts for automotive giants. Such giants include Mercedes-Benz, Volkswagen, Tesla, and countless others. Hence this was seen as “a huge turning point” for Fisker. CEO Henrik Fisker’s first EV startup attempt, Fisker Automotive, went bankrupt in 2014. It has since been sold off and rebranded as Karma Automotive.
A press release from last week announced that Fisker and Magna have renewed their deal. This means Magna will be manufacturing the Ocean and other potential future Fisker models through 2029. Henrik Fisker’s second automotive company certainly has the potential to go much further than his first one did. A reasonably priced, 300-miles-per-charge, fully electric crossover is just what the market wants and needs right now, even if every major OEM seems to be targeting that segment.
What are your thoughts on this deal between Fisker and Magna, and the Fisker Ocean in general? Let us know in the replies section below.
For more info on the Fisker Ocean, be sure to check out the below article.
Image via Fisker Inc.