Fisker (FSR, $18.21) stock rose, on EV-manufacturing deal with Magna

Fisker  shares rose, following news that Magna International would produce its electric vehicles.

As part of the agreement, Fisker's electric Ocean SUV is expected to start production at Magna facility in Graz, Austria, starting Nov. 17, 2022. The Graz facility has produced more than 3.7 million vehicles for several global automakers.

Fisker is expecting Ocean’s starting list price to be $37,499 in the U.S., excluding electric vehicle-related subsidies, and below €32,000 ($38,200) in Germany (including taxes and EV-related subsidies).

"Our asset-lite model, reinforced by partners like Magna, is powering Fisker towards its planned delivery of the Ocean with features and functions exceeding our original aspirations," said Fisker.

Contributor

Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.