Fisker And Volkswagen Are About To Make A Surprising Deal

Industry News / Comments

No one saw this coming.

It's been a big couple of weeks for Los Angeles-based Fisker. In a somewhat surprising move, the EV automaker announced plans to issue an IPO thanks to a $2.9 billion deal that will see Fisker merge with Spartan Energy Acquisition Corp., which is an affiliate of private equity firm Apollo Global Management. The expected $1 billion in gross proceeds Fisker expects to receive will be invested in bringing the Fisker Ocean EV SUV to market by the end of 2022.

This Tesla Model Y fighter, according to Fisker, is the most environmentally-friendly vehicle ever thanks to its planned use of recycled materials. Still, one question remained: Will the Fisker Ocean ride on its own unique platform or will it get one from elsewhere? Today, we have an answer.

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According to a Bloomberg report, Fisker is currently in talks with Volkswagen to make a deal that will see the former utilize key components of VW's MEB electric platform. This is the very same platform underpinning the upcoming Volkswagen ID.4 crossover. "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," Fisker said during an investor presentation. VW declined to comment on the report.

The sharing of parts and other vital EV-related components could become a more common occurrence as automakers big and small realize the need to cut costs.

Front Angle View Fisker
Rear Angle View Fisker
Front View Fisker
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In fact, Volkswagen and Ford cut a deal over a year ago that will see the two share platforms, among them MEB. Ford will design and build a new EV for the European market in Germany and has promised it'll look nothing like the VW ID.3 hatchback. Ford just needs a platform and other basic hardware.

And that appears to be the same situation regarding Fisker. The Ocean concept looks to be in an advanced design stage and once a deal is finalized with VW, that production schedule is likely to be maintained.

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Source Credits: Bloomberg

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