Fisker has made a deal to use Volkswagen’s EV platform

Fisker has made a deal to use Volkswagen’s EV platform

Fisker Inc. has sunk its electric vehicles on the Volkswagen modular EV platform, as negotiations on a “cornerstone agreement” scheduled for completion this month have now been postponed until at least September.

In: written performance Investor Henrik Fisker told investors in the Securities and Exchange Commission (SEC) on Friday morning that his company “did not achieve our goal of signing a cornerstone agreement with VW by the end of July 2020, as we had previously expected.” The agreement envisages closing the costs, production capacity and production schedule.

Fisker says, “Look[s] offered to continue discussions with VW after the traditional European summer holidays in September, “but added that Fisker Inc. continues to” talk to a number of other potential OEM suppliers. ”

“It is a reality when working with world-class partners that they may not move at our speed,” says Fischer. “This is something we have to respect.”

Fisker Inc. is currently trying to sell publicly on the New York Stock Exchange by merging with Spartan Energy Acquisition Corp., which launched Apollo Global Management, into an “empty auditing company” or “special purpose acquisition company.” An organization with no real business that is listed on a stock exchange then seeks out a company to merge, thus offering something of a shortcut to the traditional IPO process. The script was submitted to the SEC by Spartan.

While Fisker says he still believes in Fisker Inc.’s overall schedule (deliveries start “before the end of 2022”), time is of the essence. Sparta shareholders gave the company two years to merge with another company, which expires on August 14. At the same time, “Spartan” asked those shareholders to approve the extension until February 2021. Voting is scheduled for next week.

Fisker Inc. և Spartan announced their proposed merger earlier this month, adding to their suddenly growing list of investments in electric vehicles: mergers. how The baby It first appeared that Fisker Inc. was then finding that it was in talks with Volkswagen to use the German automaker’s so-called MEB platform (consisting of battery-powered scales, electric motors and other EV tech, which drives a car) years. The two signed a memorandum of understanding in November 2017, and a “cooperation agreement” in December 2018. The first prototype of Fisker Inc.’s Ocean SUV, which debuted at the 2020 Consumer Electronics Show, was even built by Volkswagen’s Italdesign subsidiary. MEB platform.

Fisker Inc. has announced that it wants to build two models on the MEB platform offshore. Volkswagen is already working with Ford to develop a car running on the MEB platform, and there has been talk of working with other companies. But the German carmaker is in the middle transforming its executive ranks. Both Fisker Inc. and Volkswagen did not immediately respond to requests for comment.

Founded in 2016, Fisker originally planned to build high-end sports cars based on solid-state batteries by Fisker Inc. – a kind of evolution of the work it did during its first launch – Fisker Automotive , which eventually went bankrupt. But he eventually focused on his more affordable (‘s supposedly stable) electric SUVs, which are powered by more conventional lithium-ion batteries.

Fisker has stated that it wants Fisker Inc. to be “active light” rather than vertically integrated. Instead, he plans to supply as much equipment as possible from other companies so that Fisker Inc. “can focus solely on innovation in the areas facing the car consumer, which is a highly emotional development of software, sustainability.”

“We are confident that this asset light model will enable us to deliver a tempting, affordable car with an unusual digital consumer experience,” Fisker said in a script released Friday. «[W]We pursue a changing business model for the industry, which Emass or Emobility will provide as a service with more sustainable, emotional drive to bring value to the consumer while driving the automotive industry’s biggest profits. This is our obligation և we aim to proceed from it. “

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