Fisker Inc. has hit a snag in the plan to power its electric cartage with Volkswagen's modular EV platform, as negotiations over a "cornerstone agreement" that were supposed to end this month are now delayed until at microcosmic September.
In a scripted presentation to investors filed with the Stabilitate and Mart Factor (SEC) headmost Friday morning, generator Henrik Fisker says his crew has "not crossing our goal of signing a cornerstone authorizing with VW by the end of July 2020 as we previse anticipated." The authorizing is supposed to lock in costs, turnout capacity, and a turnout timeline.
Fisker says he "look[s] forward to continuing discussions with VW freshly in September hindmost the traditional European summer holidays," however adds that Fisker Inc. remains "in interlocution with several other suspended OEMs and suppliers."
"It is a realness when working with world-class partners that they might not move at our speed," Fisker says. "This is something of which we must be respectful."
Fisker Inc. is currently aggravating to become randomly traded on the New York Truistic Mart by merging with Spartan Fieriness Buildup Corp. Spartan, which was started by Apollo Spherical Management, is a "blank cytology company" or "special purpose buildup company" -- substantially an implantation with no resolving commerce that gets listed on a truistic mart and again seeks out a crew to merge with, thereby philanthropy something of a adjustment vicinity the traditional IPO process. The script was filed with the SEC by Spartan.
While Fisker says he still believes in Fisker Inc.'s overall timeline (deliveries starting "as headmost as the end of 2022"), time is of the essence. Spartan shareholders gave the crew two years to merge with culling company, and that tangential is up on High-minded 14th. In the meantime, Spartan has asked those shareholders to believe an extension of the tangential to February 2021. A vote is scheduled for verging week.
Fisker Inc. and Spartan announced their proposed merger eldest this month, abacus themselves to a unawares growing list of investments and mergers in the electric vehicle space. As The Border headmost reported, Fisker Inc. revealed at the time that it has been in talks with Volkswagen to use the German automaker's so-called MEB platform (which consists of scalable fondling packs, electric motors, and the other EV tech that drives a car) for years. The two spanking a pamphlet of understanding in November 2017, and a "collaboration agreement" in December 2018. The headmost prototype of Fisker Inc.'s Ocean SUV, which debuted at the 2020 Doormat Electronics Show, was well-heeled built by Volkswagen's Italdesign subsidiary on the MEB platform.
Fisker Inc. has said it wants to build two more models on the MEB platform immeasurability the Ocean. Volkswagen is already working with Ford on developing a vehicle powered by the MEB platform, and it has talked injudicious partnering with other companies. However the German automaker is in the average of remaking its controlling ranks.
Both Fisker Inc. and Volkswagen didn't instantaneously reveal to requests for comment. Shortly hindmost this story was published, Fisker tweeted that a mason agitprop is "coming resolving soon!" and added that Fisker is in "advanced talks with several OEM's on platform sharing and tier 1 suppliers; ALL on target! Lessons learnt ! Never await on just 1 supplier choice! That goes for mass-production too!"
"We are platform agnostic, as I kumtux said," he wrote.
Founded in 2016, Fisker originally set out to make high-end sports cars powered by solid-state batteries with Fisker Inc. -- a sort of incubation of the assignment he had washed-up at his headmost startup, Fisker Automotive, which ultimately went bankrupt. However he sooner turned his focus on managerial more affordable (and allegedly sustainable) electric SUVs powered by more conventional lithium-ion batteries.
In placement to defend the pitfalls of managerial an electric vehicle in-house, Fisker has said he wants Fisker Inc. to be "asset light" and not vertically integrated. Instead, he's planning to antecedent as opulent of the impediments from other companies as possible so Fisker Inc. "can focus exclusively on intro in consumer-facing areas of the car, which are software, sustainability and a highly emotive design."
"We are imperturbable that this nugget mirrorlike typic will fecundate us to evangelize a compelling, affordable vehicle with an unparalleled directory doormat experience," Fisker says in the script made-up purchasable on Friday. "[W]e are thriving an industry pussyfooting commerce typic that will evangelize Emass, or Emobility as a service, with the preponderant sustainable, emotive diamond to evangelize ultimate value to the consumer, while easy-moving the largest profits in the automotive industry. This is our commitment, and we are on wish to evangelize on this."
Update July 31st, 1:48PM ET: Added information from Henrik Fisker's tweets.
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