{"id":407242,"date":"2021-01-04T06:59:25","date_gmt":"2021-01-04T11:59:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=407242"},"modified":"2021-01-04T06:59:25","modified_gmt":"2021-01-04T11:59:25","slug":"magna-expands-with-fisker-secures-full-adas-system-business","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/magna-expands-with-fisker-secures-full-adas-system-business\/","title":{"rendered":"Magna Expands With Fisker:  Secures Full ADAS System Business"},"content":{"rendered":"<div class=\"mw_release\">\n<ul>\n<li>Complements EV platform sharing, vehicle engineering and manufacturing cooperation<\/li>\n<li>Delivers complete set of ADAS features and unique suite of software packages<\/li>\n<li>Includes first-to-market digital imaging radar technology<\/li>\n<\/ul>\n<p>AURORA, Ontario, Jan.  04, 2021  (GLOBE NEWSWIRE) &#8212; \u00a0Magna today confirmed that it is collaborating with Fisker to develop an Advanced Driver Assistance System (ADAS), which will be applied to the Fisker Ocean SUV that is expected to launch in late 2022. This new business win demonstrates Magna\u2019s ability to bring scale and efficiency to the mobility landscape and represents an important expansion of the EV platform sharing, vehicle engineering and manufacturing cooperation the two companies announced last October.<\/p>\n<p>Magna and Fisker will work together to develop industry-unique ADAS features and a suite of software packages powered by a scalable domain controller architecture.<\/p>\n<p>In addition to leveraging cameras and ultrasonic sensors, the ADAS package includes a unique and first-to-market digital imaging radar technology. Co-developed with Austin, Texas-based technology startup Uhnder, ICON RADAR<sup>TM<\/sup> is the first digital imaging single-chip radar solution for the automotive marketplace.<\/p>\n<p>\u201cOne of our strategic goals is to pursue new business in areas where Magna\u2019s unique strengths can be deployed with an advantage compared to our peers,\u201d said Swamy Kotagiri, Magna CEO. \u201cOur collaboration with Fisker is a great example &#8211; we can provide a new OEM like Fisker with a flexible and scalable EV platform, complete ADAS package, joint vehicle engineering and manufacturing. By engaging early and working closely with such customers, we can provide rapid commercialization and gain synergies including cost efficiency, delivering additional benefits to the industry overall.\u201d<\/p>\n<p>Fisker and Magna recently completed the definitive platform agreement and initial manufacturing agreement, just two months on from the original framework agreements. The Fisker Ocean will initially be manufactured exclusively by Magna in Europe.<\/p>\n<p>The Fisker Ocean SUV will use a modified version of a Magna-developed EV platform to power Fisker\u2019s FM29 platform.<\/p>\n<p>&#8220;The ability to integrate Fisker-Intelligent Pilot technologies into the Fisker Ocean SUV from launch is mission-critical for the whole program,\u201d said Henrik Fisker, Chairman and CEO, Fisker. \u201cThe excellent collaboration between the Fisker and Magna engineering teams, already proven by passing the first engineering milestone last November, gave us the confidence to work with Magna on these important technologies for the Ocean.&#8221;<\/p>\n<p>TAGS<br \/>ADAS, Fisker Ocean SUV, domain controller, radar, cameras<\/p>\n<p>INVESTOR CONTACT<br \/>Louis Tonelli, Vice President, Investor Relations <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=To1Vvjswft5xY5hy-HhebSk4_1oHeR-8xWu7lwXZ76BXcvMIqmLfruNcUinDK9DrTink4DoQfHEmhItbrdzoc1IYZn1U4h5HSLdczgvnipc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">louis.tonelli@magna.com<\/a>, (+1) 905.726.7035<\/p>\n<p>MEDIA CONTACT<br \/>Tracy Fuerst, Vice President, Corporate Communications &amp; PR<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mBiPQ87FmRukmR2qcg1MUvYLsJ4P6Xs8MCattngV9QxReXDXBByUG63IOc2h8zcxNIZRvpTXICNdv4EEw7R9AjEuW166LWf3fFZ8yeiWdLQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">tracy.fuerst@magna.com<\/a>, (+1) 248.631.7004<\/p>\n<p>ABOUT MAGNA <br \/>We are a mobility technology company. We have over 157,000 entrepreneurial-minded employees, 344 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Our common shares trade on the\u00a0Toronto Stock Exchange\u00a0(MG) and the\u00a0New York Stock Exchange\u00a0(MGA). For further information about Magna, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0S_zFUO18slBKV1dWHTaN_hZ8lclo0np1KfBxMQj_k2mJmqSMsy4Hw3stiR4vxW4LotvmyELDbmkrBodKnqmVw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.magna.com<\/a>.<\/p>\n<p>\n        <strong>THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE \u201cFORWARD-LOOKING STATEMENTS\u201d UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA\u2019S REGULATORY FILINGS. PLEASE REFER TO MAGNA\u2019S MOST CURRENT MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA\u2019S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA\u2019S WEBSITE AT\u00a0<\/strong><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=cSrqrHez2bTJUyGqm-MGGrJHdNlSmipiWAoFv-OuBJ9EtqKWwQz0-KzT8SwTSMYqJIzmcX8FKqRs18lvsy0cig==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <strong>WWW.MAGNA.COM<\/strong><br \/>\n        <\/a><br \/>\n        <strong>.<\/strong>\n      <\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SHuDa3N8BzeBotb_hzTzv4bmMp1rviA3ScfvDmg2ga3QDgWkyGjB46dXCcxxuFidKK9jblpCHwMhauRaakQsrUjvBaITPH-8n0IUN8K5IJzvV13WcZ22VCantKouWk7gRMj9-lt5hUtTOkrpWzPud9NLM7zfIvNMRFZJONx75RR4IxhieFUJoAU_yck_DMWdXCGf0JpY7g4LEcwm9lGirxDZzV0oyTgKVRsgniQ1-8sXWUt5EqtODfmSvCOtdxZPiNmsoZM0jBzdnlajk_Wz0A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/94fbd9e9-c288-4248-b762-bbe516cf57f8<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExOTcwNiMzOTAyMzQ0IzIwMDg4MTU=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/2eccc6b4-9e56-4e4a-8ac9-9c46ab36052e\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Complements EV platform sharing, vehicle engineering and manufacturing cooperation Delivers complete set of ADAS features and unique suite of software packages Includes first-to-market digital imaging radar technology AURORA, Ontario, Jan. 04, 2021 (GLOBE NEWSWIRE) &#8212; \u00a0Magna today confirmed that it is collaborating with Fisker to develop an Advanced Driver Assistance System (ADAS), which will be applied to the Fisker Ocean SUV that is expected to launch in late 2022. This new business win demonstrates Magna\u2019s ability to bring scale and efficiency to the mobility landscape and represents an important expansion of the EV platform sharing, vehicle engineering and manufacturing cooperation the two companies announced last October. Magna and Fisker will work together to develop industry-unique ADAS features and a suite &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/magna-expands-with-fisker-secures-full-adas-system-business\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Magna Expands With Fisker:  Secures Full ADAS System Business&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-407242","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Magna Expands With Fisker: Secures Full ADAS System Business - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/magna-expands-with-fisker-secures-full-adas-system-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magna Expands With Fisker: Secures Full ADAS System Business - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Complements EV platform sharing, vehicle engineering and manufacturing cooperation Delivers complete set of ADAS features and unique suite of software packages Includes first-to-market digital imaging radar technology AURORA, Ontario, Jan. 04, 2021 (GLOBE NEWSWIRE) &#8212; \u00a0Magna today confirmed that it is collaborating with Fisker to develop an Advanced Driver Assistance System (ADAS), which will be applied to the Fisker Ocean SUV that is expected to launch in late 2022. This new business win demonstrates Magna\u2019s ability to bring scale and efficiency to the mobility landscape and represents an important expansion of the EV platform sharing, vehicle engineering and manufacturing cooperation the two companies announced last October. 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