Fisker hits snag in deal to use Volkswagen’s EV platform

Image: Fisker Inc.

Fisker Inc. has hit a snag in the plan to power its electric vehicles with Volkswagen’s modular EV platform, as negotiations over a “cornerstone agreement” that were supposed to end this month are now delayed until at least September.

In a scripted presentation to investors filed with the Securities and Exchange Commission (SEC) early Friday morning, founder Henrik Fisker says his company has “not achieved our goal of signing a cornerstone agreement with VW by the end of July 2020 as we previously anticipated.” The agreement is supposed to lock in costs, production capacity, and a production timeline.

Fisker says he “look[s] forward to continuing discussions with VW again in September after the traditional European summer holidays,” but...

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