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This contract strengthens the deep partnership between Magna and Fisker, providing opportunities to increase volumes with the Ocean or other FM29 architecture variants and collaboratively work on efficiencies in the production process that could drive post-launch manufacturing and cost innovations.
“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,” said Frank Klein, President, Magna Steyr. “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 use a version of a Magna-developed electric vehicle architecture modified by Fisker to create the FM29 platform, and in the process, create new, proprietary intellectual property (“IP”). Combined with Fisker-developed IP, the new aluminum-intensive FM29 platform is projected to deliver class-leading range and interior space at a Bill of Materials and manufacturing cost that enables the Ocean to 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), and to offer compelling, high-value option packages to customers across the Ocean’s entire price range.
“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,” continued 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.”
For more information or interview inquiries, contact Fisker@GoDRIVEN360.com.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker’s social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.
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Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, the quotations of our Chief Executive Officer and statements regarding the planned start of production and MSRP of the Ocean, the Company’s future performance and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: Fisker’s limited operating history; Fisker’s ability to enter into additional
