Ningde Times will supply lithium iron phosphate battery and Ni-mn-Co ternary lithium battery for Fisker

According to foreign media reports, electric car maker Fisker said on Nov. 2 that it had reached a battery supply agreement with Chinese battery maker Ningde Times for its flagship Ocean electric SUV.

Fisker said that from 2023 to 2025, Ningde Times will provide two different battery packs for Fisker's Ocean electric SUV: lithium iron phosphate battery (LFP) and nickel manganese cobalt ternary lithium battery (NMC). The initial battery capacity of the Fisker in Ningde era was more than 5 GWh. If Ocean increases production at a later stage, the Ningde era may increase the supply of batteries.

In order to meet the needs of Ocean SUV, Fisker and Ningde era will also optimize the structure of the battery pack. Currently, the two companies are conducting extensive testing and verification, including battery packs and vehicles.

Henrik Fisker, CEO and Chairman of Fisker, said: "the battery supply agreement we signed with Ningde Times is another major step forward in developing Ocean and achieving battery performance goals. By using Ningde-era efficient battery packs, we may be able to achieve Ocean Sport's goal of mileage. "

As global demand for electric vehicles soars, carmakers and battery makers are racing to increase production and develop new electric vehicle batteries. American electric car maker Tesla dominates the current electric vehicle market, and Fisker has entered this highly competitive market with Ocean SUV.

Fisker will unveil the final production version of the Ocean SUV at the Los Angeles Auto Show on Nov. 17 and say it will begin production and delivery of the car in November 2022. Fisker expects Ocean to sell about 50, 000 to 100000 vehicles a year.

Fisker said that the appearance of the mass-production model is roughly the same as that of the previously released concept car, but the interior will be designed with a new design. Fisker is currently working with Magna to prepare for mass production of Ocean.

Fisker shares rose 1 per cent before trading. Fisker will report third-quarter results after the close on Nov. 3.