Is there a plan B is one of the links in the Asset-Light chain breaks?
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It’s hard to sue a company that declares bankruptcy. (Well, it’s easy to sue; it’s hard to get anything meaningful from it.)
Unfortunately, unless they produce everything in house, that is a risk all manufacturers have. Thankfully, their battery supplier is CATL so risk of default is minimal. All other components are easier to replace (especially with Magna as an investor).
One of many issues Rivian is facing that could affect their Amazon van deliveries…
The biggest problems with the first Fisker company was 1) A123 was a startup battery cell company and failed on many levels, 2) Valmet (the contractor for the Karma) is much less equipped to build an EV than Magna (BTW, ten years ago, Magna designed and built the Ford Focus EV drivetrain). Currently Magna is on a different level than Valmet. 3) problems with the BMW/GM engines for the PHEV side of things were a mess (exhaust setup causing fires, etc). The design of the PHEV system was only half as efficient as the contemporary Chevy Volt. 4) Lastly, performance in general (5.9 sec 0-60) not great for a $100K+ car. I think just going EV for the new company will be less of a headache since PHEVs are so complicated.
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I think of the Ocean as a Magna car with Fisker design. Magna really cannot let the Ocean fail.
Carmakers around the world are hitting this problem now.. and the answer is slow or shutdown production temporarily or delete the feature (heated steering wheel, park assist, HDA2, SuperCruise, etc). One could list dozens of examples. The easiest is to delete the feature if possible.
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