Skip to Main Content.
Site navigation
Fidelity.com Home
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log Out
  • Accounts & Trade
    • Portfolio Log In Required
    • Portfolio
    • AccountPositions Log In Required
    • AccountPositions
    • Trade Log In Required
    • Trade
    • Active Trader Pro
    • Transfers
    • Cash Management Log In Required
    • Cash Management
    • Bill Pay Log In Required
    • Bill Pay
    • Full View Log In Required
    • Full View
    • Security Settings Log In Required
    • Security Settings
    • Account Features Log In Required
    • Account Features
    • Statements Log In Required
    • Statements
    • Tax Forms & Information
    • Retirement Distributions Log In Required
    • Fidelity Rewards+ Log In Required
    • New Account Checklist Log In Required
  • Planning & Advice
    • What We Offer
    • My Goals
    • Financial Basics
    • Building Savings
    • Robo Investing Plus Financial Advice
    • Wealth Management
    • Find an advisor
    • Retirement
    • Life Events
  • News & Research
    • News
    • Watch List Log In Required
    • Quotes
    • Quotes
    • Alerts Log In Required
    • Mutual Funds
    • Stocks
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Markets & Sectors
    • IPOs
    • Annuities
    • Learning Center
    • Notebook
    • Notebook
  • Investment Products
    • Mutual Funds
    • Retirement & IRAs
    • Trading
    • Stocks
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Sector Investing
    • Cash Management & Credit Cards
    • Managed Accounts
    • 529 College Savings
    • Health Savings Account
    • Annuities
    • Life Insurance & Long Term Care
    • Charitable Giving
  • Why Fidelity
    • The Fidelity Advantage
    • Planning & Advice
    • Trading
    • Straightforward Pricing
    • Insights & Tools
    • Security & Protection
    • About Fidelity
    • Careers
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log Out
Content and data provided by various third parties and Fidelity − Terms of Use
  • Research >
  • Stocks >
  • News & Events >

Stock Details


Find Symbol. Opens in new window.
  • Snapshot
  • Detailed Quote
  • Advanced Chart &
    Technical Analysis Opens in New Window
  • News & Events
  • Compare
  • Analyst Opinions
  • Research Reports
  • Key Statistics
  • Earnings
  • Dividends
  • Ownership & Insiders
  • Financial Statements
  • SEC Filings

RELATED RESOURCES

  • Stock Research Overview
  • Stock Screeners
  • Markets & Sectors
  • Fidelity Learning Center Opens in New Window
Print Format
Change Text Size:
  • Default text sizeA
  • Larger text sizeA
  • Largest text sizeA

Fisker mulls battery cell manufacturing in Europe, U.S with major supplier

BY Reuters
— 9:40 PM ET 02/25/2021

By Hyunjoo Jin

Feb 25 (Reuters) - Fisker Inc (FSR) CEO said on Thursday that the electric vehicle startup is considering setting up a battery cell manufacturing facility with an unidentified major supplier in Europe or the United States, to secure stable supplies of the key component.

Fisker, which was once a rival to Tesla Motors Inc in the nascent market for electric luxury cars, struggled with the recall of batteries made by its previous supplier, A123, which later filed for bankruptcy.

"We did not want to take any risk on batteries," Henrik Fisker, chairman and CEO of Fisker, told Reuters. He said the company will use prismatic cells from one of the world's four largest suppliers.

China's CATL supplies prismatic cells to Tesla. Samsung SDI makes prismatic cells for BMW cars.

Fisker, which is yet to produce saleable vehicles, has been partnering with companies for manufacturing its electric cars to speed up vehicle development and production.

On Wednesday, Fisker said it would work with Apple Inc (AAPL) supplier Foxconn (FXCOF) to produce more than 250,000 vehicles a year beginning in late 2023.

Fisker said in December that Canada's Magna International Inc (MGA) would initially manufacture its first vehicle, the Ocean SUV, in Europe.

Fisker's production is on track to start in the fourth quarter of next year, with a starting price of $37,499.

The company was launched by Henrik Fisker, a one-time Aston-Martin designer whose previous venture, Fisker Automotive, collapsed in 2013. Fisker on Thursday reported its net loss widened to about $12 million in the fourth quarter from about $3 million a year earlier.

Fisker's reverse merger with special-purpose acquisition company Apollo Global Management provided the startup with $1 billion in gross proceeds. (Reporting by Hyunjoo Jin in San Francisco and Akanksha Rana in Bengaluru; Editing by Maju Samuel and Leslie Adler)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

More AAPL News

  • US STOCKS-Wall Street ends sharply lower, tech selloff weighs as bond yields climb
    Reuters - 4:40 PM ET 02/25/2021
  • Fisker expects capital expenditures of up to $240 mln in 2021
    Reuters - 4:20 PM ET 02/25/2021
  • GLOBAL MARKETS-Surging bond yields lead global equities to tumble
    Reuters - 4:17 PM ET 02/25/2021
Fidelity Investments. Copyright 1998–2021 FMR LLC. 
All rights reserved. 

  • Terms of Use|
  • Privacy|
  • Security|
  • Site Map 
Close