Tesla, Nio Supplier CATL To Power Fisker's Ocean EV Under New Battery-Deal: What You Need To Know

China's Contemporary Amperex Technology Co Ltd, a battery supplier to $Tesla(TSLA.US)$ and $NIO Inc(NIO.US)$ will supply batteries to $菲斯克(FSR.US)$ for its Ocean electric sports utility vehicle, the latter said in a statement on Tuesday.The contract to supply two different battery packs will run from 2023 till 2025 with an initial battery capacity of over 5 gigawatt-hours annually, Fisker said.
Fisker competes with Tesla — a company that once employed Henrik Fisker and even sued him over design secrets.

The California-based company has no sales or cars in production yet. It has revealed plans to develop a more affordable, sub-$30,000 electric vehicle that would launch by the end of 2023 with the help of $Apple(AAPL.US)$ Taiwan-based supplier $HON HAI PRECISION INDUSTRY SPON GDS EACH REP 2 SHS TWD10 REG'S'(HNHPF.US)$ Hon Hai, better known as Foxconn, has announced a deal to buy $Lordstown Motors(RIDE.US)$ Ohio assembly plant where it plans to build electric vehicles for Fisker.