On Friday, Fisker Inc. entered a memorandum of understanding with Canada-based Magna International to build its Ocean electric SUV—in Graz, Austria. 

Fisker confirmed to Reuters then that it expects a definitive agreement “in the next few months,” allowing Magna Steyr to produce the Fisker Ocean starting as soon as the fourth quarter of 2022. 

VW MEB platform

Just one week ago, Fisker reported via an SEC document that negotiations with Volkswagen—to use its MEB platform intended for millions of affordable electric vehicles—had stalled.

Magna Steyr already produces the I-Pace—heading for significant improvements for 2021—at that plant for Jaguar Land Rover. The I-Pace uses LG Chem batteries, as Fisker has also stated it plans to use with the Ocean.

Magna e4 technology demonstrator (Jaguar I-Pace)

The supplier and technology provider has some electric-vehicle chops of its own, and earlier this year demonstrated that it could boost the range and dynamic capability of the I-Pace by keeping its battery pack but essentially reconceiving the entire propulsion system.

Magna confirmed the MOU to Green Car Reports but declined to provide any further comment. Meanwhile Fisker stated to Reuters that the situation with Volkswagen had not changed as of Friday, and it was also “evaluating manufacturing options for the United States and China.”

How does this all come together? According to Fisker, there's no connection to the I-Pace other than the potential production partner. "This would be a direct agreement between Fisker and Magna and has nothing to do with any of Magna’s other clients," said Fisker VP communications Simon Sproule to Green Car Reports. 

Fisker plans to go public through a merger with Spartan Energy Acquisition Corp., a “blank check” company that would potentially allow the automaker to be traded on NASDAQ.