Along with the previously signed agreements on electric vehicle platform sharing and ADAS package, this finalises the framework established between the two companies beginning in 2020

Fisker Magna manufacturing agreement

The Ocean SUV will use a version of a Magna-developed electric vehicle architecture modified by Fisker to create the new aluminium-intensive FM29 platform, and in the  process, create new intellectual property. Fisker notes that this contract also provides 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.It has been confirmed that production of the all-electric Fisker Ocean SUV will start in November 2022 at Magna’s facility in Graz, Austria. Fisker says this agreement covers planned volumes, manufacturing costs and quality metrics over the programme’s lifecycle through 2029. It covers all stages, including the critical planning and launch phases and underpins all facility investments, including bodyshop, a clear path to start-of-production in 2022 and rapid ramp-up to full run-rate production.