EV Startup Fisker in talks with Volkswagen to use parts for Ocean SUV1 min read . Updated: 14 Jul 2020, 07:54 AM IST
Fisker has recently raised $50 million from hedge fund veteran Louis Bacon, with the money going toward engineering for the SUV it aims to roll out in 2022.
Fisker Inc. said it is in talks with German auto giant Volkswagen AG to use key vehicle parts, including a battery, in an electric SUV scheduled to begin production in 2022.
The startup said in an investor presentation filed Monday with the Securities Exchange Commission that it plans to use VW’s modular electric-drive matrix, or MEB, platform to cut costs and halve development time for its debut model: the Ocean sport utility vehicle.
Trending CarsSee All
It also will adopt that automaker’s battery technology to power the SUV.
“Fisker is negotiating with VW to secure a source of battery supply, which would provide Fisker with the benefit of one of the world’s largest battery-procurement supply contracts," it said.
Representatives for VW in the US didn’t have an immediate comment.
Shares of Apollo Global Management-sponsored blank-check company Spartan Energy Acquisition Corp., which agreed to merge with privately held Fisker, rose more than 6% in post-market trading.
Fisker Chief Executive Officer Henrik Fisker said in an interview his company is in talks with several carmakers for parts-supply contracts but did not mention VW by name. “We don’t need to make our own electric air conditioning, steering rack, even the platform itself," he said.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.