The agreement includes planned volumes, manufacturing costs and quality metrics through 2029.
Fisker doesn’t plan on building its vehicles itself, which is why it has teamed up with Austria’s Magna to take care of the production side of the equation. Magna will also provide development support and the platform that underpins the upcoming Ocean electric crossover, although the latter has been modified by Fisker to fit its needs.
This announcement is essentially the finalization of the framework that the two companies agreed upon back in October of 2020. It is now official that they will collaborate on various projects until 2029, and if things go well and the vehicles they launch are successful, we don’t see why the partnership couldn’t be extended.
Magna Steyr President, Frank Klein, said
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.
To this, Henrik Fisker added that
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. 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.
The Ocean is set to be revealed in its final production form at the Los Angeles Auto Show this November. It will enter production at Magna’s facility in Austria on November 17 and from there it will be exported around the world to the markets where it will be sold (including the United States). In the US, it will start from $37,499, while its official starting price in Germany is €32,000 (with EV incentives and subsidies factored in).
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