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Fisker Inc. has announced it signed a binding agreement supporting manufacturing with Magna International Inc. Along with the previously signed agreements on electric vehicle (EV) platform sharing and ADAS package, the news finalises the framework established between the two companies beginning in October, 2020. 

Fisker and Magna also confirmed that production of the all-electric Fisker Ocean SUV is projected to start on November 17th, 2022, at Magna’s manufacturing facility in Graz, Austria, where it has produced more than 3.7 million vehicles for several global automakers.

This agreement underpins all facility investments, including bodyshop, a clear path to start-of-production in November, 2022 and rapid ramp-up to full run-rate production.

This contract strengthens the partnership between Magna and Fisker, providing opportunities to increase volumes with the Ocean or other FM29 architecture variants, as well as collaboration on efficiencies in the production process that may drive post-launch manufacturing and cost innovations.

The Fisker Ocean SUV will use a version of a Magna-developed electric vehicle architecture modified by Fisker to create the FM29 platform.

Fisker Chairman and CEO, Henrik Fisker, says: “From the start of this partnership, Fisker and Magna aligned very quickly on the importance of delivering a high-quality vehicle on time. We continue to strengthen our partnership beyond platform development and manufacturing into areas such as the development of Fisker Intelligent (FI) Pilot. I am very confident Fisker and Magna will deliver an incredible product to our customers.”

“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,” continues Mr. 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.”

Magna Steyr President, Frank Klein, adds: “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. 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.”

The Fisker Ocean SUV will enter the market at a starting MSRP of $37,499 in the United States (excluding EV-related subsidies) and below €32,000 in Germany (including taxes and EV-related subsidies

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