Thursday, December 17, 2020

Fisker Ties With Magna in Manufacturing Deal

Los Angeles-based electric car designer Fisker, the latest incarnation of the EV efforts of auto designer Henrik Fisker, says it has signed a definitive agreement with Magna International. According to Fisker, Magna will manufacture Fisker's upcoming Ocean vehicle in Europe. Fisker is hoping to show a prototype of the Ocean by the summer of 2021. Magna is a manufacturer of vehicles for a number of other automotive companies. Financial details of the deal were not announced. Fisker says that it has paid reservations for more than 10,400 of its vehicles. Fisker says it will use a modified version of an EV platform developed by Magna for its Fisker Ocean SUV, using Magna's existing EV platform as the starting point for its own vehicle. The new vehicle is expected to cost below $40,000 once it is available, with a potential range of more than 350 miles, per Fisker. The EV efforts of Henrik Fisker have had a long and bumpy history; the original version of Fisker, Fisker Automotive, declared bankruptcy in 2013, after bringing just one vehicle, the Fisker Karma, to market. Only 2400 Fisker Karmas were sold, with some calculations saying it cost Fisker Automotive around $660,000 for every Karma sold.