EV Startup Fisker in Talks With Volkswagen to Use Parts for SUV

(Bloomberg) -- Fisker Inc. said it is in talks with German auto giant Volkswagen AG to use key vehicle parts, including a battery, in an electric SUV scheduled to begin production in 2022.

The startup said in an investor presentation filed Monday with the Securities Exchange Commission that it plans to use VW’s modular electric-drive matrix, or MEB, platform to cut costs and halve development time for its debut model: the Ocean sport utility vehicle. It also will adopt that automaker’s battery technology to power the SUV.

“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,” it said.

Representatives for VW in the U.S. didn’t have an immediate comment.

Shares of Apollo Global Management-sponsored blank-check company Spartan Energy Acquisition Corp., which agreed to merge with privately held Fisker, rose more than 6% in post-market trading.

Fisker Chief Executive Officer Henrik Fisker said in an interview his company is in talks with several carmakers for parts-supply contracts but did not mention VW by name. “We don’t need to make our own electric air conditioning, steering rack, even the platform itself,” he said.

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