Magna and Fisker will jointly develop ADAS
Auto parts supplier Magna to help develop Fisker Ocean electric SUV
Magna’s participation will help Fisker accelerate and reduce the cost of developing the complex system it needs to compete with Tesla and other automakers.
Fisker announced last December that Magna would initially be the exclusive manufacturer of Ocean SUVs in Europe. The corresponding agreement was signed in October . Under its terms, Magna may acquire up to 6% of Fisker shares.
Magna’s CEO expressed the opinion that the ADAS system, developed in conjunction with Fisker, will serve as an “excellent base” for possible collaboration with other EV manufacturers. He declined to comment on “rumors” that Magna is in talks to build Apple’s electric vehicles.
