The Aurora, Ont.-based auto-parts supplier will start production on the Ocean SUV in 2022. The deal was made under Magna’s European contract-manufacturing business, Magna Steyr. Magna’s stake in Fisker would represent about US$180 million in value. (Business Insider)
Skip to content
The Aurora, Ont.-based auto-parts supplier will start production on the Ocean SUV in 2022. The deal was made under Magna’s European contract-manufacturing business, Magna Steyr. Magna’s stake in Fisker would represent about US$180 million in value. (Business Insider)
Talking point: The Anaheim, Calif.-based startup’s “asset-light” approach is at odds with other electric-vehicle companies like Tesla and Rivian that have opted to own not just the technology, but the manufacturing side of the supply chain, as well. The deal serves as an example of how some incumbent manufacturers will wade into the fledgling EV sector by teaming up with tech firms rather than designing their own cars from scratch. The Automotive Parts Manufacturers’ Association is angling to do just that: the industry association is creating an all-Canadian EV with various startups and designers, with the aim of having a car maker take the prototype and produce the car itself.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Analysis
Canada’s ETF industry is almost a trillion-dollar business
Briefing
A $4.6B power project tied to a Meta-linked Alberta data centre gets the green light
Quebec launches $1B water infrastructure housing program
Radical Ventures backs TwelveLabs in US$100M Series B for video AI tools
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
