Fisker Ocean: World's Most Sustainable Vehicle Launch
STRONG STRATEGIC PARTNERS SUPPORT AND VALIDATE FISKER BUSINESS MODEL: MAGNA
Speed-to-market, profitable BOM, and advanced features de-risk manufacturing cost, quality, and timing
MAGNA
Deep collaboration on unique FM29 architecture & Ocean
development/sourcing
Binding agreements for platform-sharing, engineering / purchasing services, contract manufacturing
all complete (MOU was announced Oct 2020)
Fisker Engineering chooses all vehicle attributes and directs all component engineering
Ability to monetize 100% of emission credits
Magna manufacturing experience / capability ensures
launch timing/quality
Decades of experience (current brands: Daimler, BMW, Toyota, Jaguar); EV production since 2018
Plan for ramp beyond 5,000 units per month during 2023; ability to expand with limited investment
World-class manufacturer limits quality risks / launch delays/ manufacturing time over-runs
Equity Stake Joins The Two Companies "At The Hip"
Magna incentivized for success of Ocean program through 6% equity stake; first two warrant
tranches vested as of June 2021; third tranche at start of production.
Copyright 2021 Fisker Inc. All rights reserved.
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