Oct. 16, 2020—Fisker Inc. has announced that Magna International will build the brand's newest all-electric Ocean SUV as Fisker goes public. 

According to Autoblog, as part of the deal, Magna will receive warrants to purchase up to 6 percent in Fisker, which is valued at $3 billion total. 

Production of the Ocean SUV is projected to start November 2022.