Magna cooperates with Fisker on the Fisker Ocean

Magna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for $37 per share is a superior proposal under the terms of the previously announced merger agreement between Magna and Veoneer, and that Magna has waived the four-day matching period to make a counterproposal. Accordingly, Veoneer has...

5 October 2021

Fisker announced it is joining forces with the renowned racing driver, Abbie Eaton. One of 18 drivers competing in the 2021 W Series Championship, Abbie will work closely with Fisker's engineering and product development team, focusing on chassis and vehicle dynamics on the Fisker Ocean SUV program and other vehicles to follow. Abbie brings her experience as a test driver for The Grand Tour show to Fisker, along...

23 August 2021

The Fisker Ocean will make its global debut at the upcoming 2021 Los Angeles Auto Show, with production starting on November 17, 2022. The SUV features extensive use of recycled materials, including a fully vegan interior, and will come with an optional photovoltaic solar roof. The EV will sit on custom-developed Bridgestone Potenza Sport tires for vehicles sold in Europe and select models sold in North America. The...

5 August 2021

LG and Magna signed the transaction agreement which establishes a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea and will be led by a strong management team. Leading the new company will be CEO Cheong Won-suk, a 20-year LG veteran who was most recently vice president and head of the LG Vehicle component Solutions Company’s Green...

30 July 2021

Fiskery today announced details for the first wave of its global brand experience centers. Starting in the first half of 2022, the company will open its inaugural center in Los Angeles, followed by a European center in Munich. Fisker Brand Experience Centers will offer prospective customers the opportunity to see and experience the company's vehicles, as well as speak with product experts on hand. Following Los...

22 July 2021

The LG Magna e-Powertrain is a joint venture between LG Electronics of Korea and Magna International of Canada. It is set to start operations this month. LG will participate by separating a part of its VS Business Division. Magna will invest USD 453 million to secure a 49% stake. By mid-July, the new business entity should be established. LG Magna e-Powertrain will produce inverters, motors, and in-vehicle chargers...

2 July 2021

Following its agreement with Foxconn, Fisker has announced that it has serially nominated Sharp Corporation, part of Foxconn (Hon Hai Technology Group), to develop technologies supporting next-generation in-vehicle displays and interfaces. The agreement would include the co-creation of technologies and the subsequent manufacturing of screens and components from Sharp to support the Ocean SUV, Project PEAR (Personal...

18 May 2021

Fisker has announced it has signed framework agreements with Foxconn (Hon Hai Technology Group) for the joint development and manufacturing of EVs under the Project PEAR (Personal Electric Automotive Revolution). This project includes the joint work on a new lightweight platform designated FP28. The aim is to introduce breakthrough vehicles priced at under USD 30,000. Production is scheduled to start in the US in Q4...

14 May 2021

Magna introduced its all-new connected Magna EtelligentEco PHEV drivetrain and next-gen Magna EtelligentReach battery-electric drive systems. Both were on full display at the company’s Winter Test driving location in northern Sweden. On a frozen track under demanding climatic and driving conditions, the technologies proved their functional advantages including better efficiency, range, and driving dynamics. We're...

8 March 2021

LG and Magna announced a joint venture (JV) to manufacture e-motors, inverters and onboard chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification. The new company, tentatively called LG Magna e-Powertrain, marries Magna's strength in electric powertrain systems and world-class automotive manufacturing with LG’s expertise in component...

23 December 2020

The ArcFox α-T is a new compact crossover created by the joint venture of the BAIC division called BJEV and Canadian auto component manufacturer Magna International. The production version of the vehicle has been launched during the 2020 Beijing Auto Show. The model is available in several versions, which are named and priced as follows: ArcFox α-T 480S/480S+ with 480 km of NEDC range costs CNY 250,000 - CNY 265,000...

27 September 2020

Fisker Inc. announced that its first dedicated engineering and technology center will be located in the Mission District of San Francisco. This facility will be the focal point and development center for the company's software and vehicle electronics, including both in-car and Fisker data center elements. "With the development of our first vehicle progressing at speed and the company scaling accordingly, we are now...

24 September 2020

According to IDTechEx's report "Solid-State and Polymer Batteries 2020-2030: Technology, Patents, Forecasts, Players.", the potential market size for solid-state batteries is expected to grow to over $6 billion by 2030. This is due to various undisputed advantages of solid-state batteries including high safety level, simple pack design, higher energy density. The market demand for solid-state batteries mainly comes...

28 July 2020

Fisker Inc. is announcing the successful completion of a $50 million Series C financing round funded by Moore Strategic Ventures, LLC, the private investment vehicle of Louis M. Bacon. The proceeds will be used to support the next phase of engineering work on the Fisker Ocean all-electric luxury SUV - due for launch in 2022. Cowen acted as the company's sole advisor and placement agent on the financing. Commenting...

8 July 2020