Auto supplier Magna to develop driver assistance technology with Fisker

Canadian auto supplier Magna International Inc said on Monday it would develop an Advanced Driver Assistance System (ADAS) with Fisker Inc for the electric-car maker's Ocean SUV that is expected to launch in late 2022.

In December last year, Fisker had said Magna would initially be the exclusive manufacturer of its Ocean SUV in Europe, finalizing a deal signed with the auto supplier in October.

The ADAS technology will use digital imaging radar technology in addition to cameras and ultrasonic sensors, Magna said.

Fisker was up 2.5% at $15.02 in premarket trading.