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EV Startup Fisker in Talks With Volkswagen to Use Parts for SUV

Bloomberg logoBloomberg 7/13/2020 Ed Ludlow
a group of people in a car: The Fisker Inc. Ocean electric sports utility vehicle (SUV) sits on display at CES 2020 in Las Vegas, Nevada, U.S., on Wednesday, Jan. 8, 2020. Every year during the second week of January nearly 200,000 people gather in Las Vegas for the tech industry's most-maligned, yet well-attended event: the consumer electronics show. © Bloomberg The Fisker Inc. Ocean electric sports utility vehicle (SUV) sits on display at CES 2020 in Las Vegas, Nevada, U.S., on Wednesday, Jan. 8, 2020. Every year during the second week of January nearly 200,000 people gather in Las Vegas for the tech industry's most-maligned, yet well-attended event: the consumer electronics show.

(Bloomberg) -- 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. 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 U.S. 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.

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©2020 Bloomberg L.P.


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