Fisker has finally found someone to build its Ocean all-electric SUV, inking a deal which the EV startup says puts it on track for production kicking off by the end of 2022. Unveiled earlier this year, the Fisker Ocean is the American automaker’s take on electrifying the best-selling body style in the US, but with a price tag significantly undercutting what most luxury electric SUVs currently cost.
Indeed, Fisker says it expects the Ocean to kick off at just $37,499 – and that’s before the US federal tax incentive of $7,500 for those who qualify. It’ll also be offering a lease deal, with Fisker suggesting new drivers will be able to get the Ocean for $379 per month after $2,999 down.
The pricing was certainly aggressive enough to stand out, though Fisker needed to figure out how to actually produce the Ocean first. One possibility discussed back in July was a deal with Volkswagen, which would’ve seen the Ocean using the automaker’s MEB all-electric vehicle platform. That’s the same architecture that underpins the new 2021 VW ID.4 crossover, which arrives in the US later this year.
Today, though, there’s been a change of plan. Fisker has agreed a strategic cooperation deal with Magna, that paves the way for “platform sharing and manufacturing cooperation” for the Ocean SUV. While the company may not be a household name among drivers, it’s actually among the largest automotive parts suppliers in North America, with contracts with GM, Ford, Tesla, and more.
Should all the pieces fall into place, Magna and Fisker will collaborate on a new FM29 platform that combines Fisker IP with Magna EV tech. The “aluminum-intensive” platform will underpin the Ocean initially, but also be flexible enough for future vehicles. Fisker expects the electric SUV to be capable of 250 to 300 miles of range, using a 80 kWh lithium-ion battery, while features like a solar panel roof will be able to top up that battery when the weather cooperates.
According to Fisker, “the new FM29 platform is projected to deliver class-leading range, interior space with third-row seating and overall vehicle performance.” Magna will manufacture the SUV in Europe, at least at first, as it does for select models from BMW, Daimler, Jaguar Land Rover, and Toyota already.
Assuming the Fisker and Spartan Energy Acquisition Corp. merger goes to plan, Magna will be able to buy up to 6-percent of Fisker’s capital stock. The two companies also say they plan to work together on new technologies for electric vehicles and beyond.