Fisker has tentative deal for Magna Steyr to build its electric SUV in Austria


Electric carmaker Fisker, which recently announced plans to go public through a merger with a so-called blank-check company, said on Friday it has a tentative deal for Canadian auto supplier Magna International to build its Ocean electric SUV.

Fisker said in a statement that it expects to reach a definitive agreement “in the next few months” to have Magna Steyr start production of the Fisker Ocean at its Graz, Austria, plant as early as the fourth quarter of 2022.

A Magna spokesman confirmed the memorandum of understanding, but declined further comment.

Fisker added the companies were “also evaluating manufacturing options for the United States and China.”

Spartan Energy Acquisition Corp., backed by alternative investment manager Apollo Global Management, announced a deal last month to take Fisker public through a merger that valued the EV startup at $2.9 billion. The deal is expected to close in the fourth quarter.

Products You May Like

Articles You May Like

Nissan Z Proto previews next-generation sports car with twin-turbo V-6, retro-modern design
Is The Mercedes-AMG GT 53 A Full-Blooded “AMG” Sports Car?
Nissan N.A. board reset to sharpen profit focus
Once again, Nissan turns to the Z for a dose of healing
Porsche taps top marketing exec to head North America

Leave a Reply

Your email address will not be published. Required fields are marked *