January 17th, 2021

Magna deepens role in Fisker electric vehicle project with driver assistance deal

By The Canadian Press on January 4, 2021.

The Fisker Ocean electric SUV is on display at the Fisker booth during the CES tech show on Jan. 7, 2020, in Las Vegas. THE CANADIAN PRESS/AP, John Locher

TORONTO – Magna International Inc. says it is deepening ties with electric vehicle maker Fisker.

Aurora, Ont.-based Magna says it will help Fisker build a driver assistance system for its electric sport utility vehicle.

The driver assistance deal comes after Magna announced last October it would be the exclusive manufacturer of the Fisker Ocean SUV in Europe.

Magna says its driver assistance technology for Fisker will include cameras, ultrasonic sensors, and a unique digital imaging radar system that is a first for the automotive industry.

The Canadian auto technology company says its deal with Fisker is a win for its expanding electric vehicle business.

Magna’s push into electric vehicles comes as other automakers, such as Ford and Fiat Chrysler, are expanding their electric vehicle manufacturing in Canada.

This report by The Canadian Press was first published Jan. 4, 2021.

Companies in this story: (TSX: MG)

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