Fisker signed a long-term manufacturing agreement with automotive supplier Magna for the manufacture of the Ocean electric SUV this week, while creator Henrik Fisker revealed more details about the upcoming EV.

According to a company news release, a formal manufacturing agreement completes all elements of Fisker and Magna’s cooperation, which was announced in October 2020. According to Fisker, Magna will manufacture the Ocean and supply the foundations, and the arrangement allows for larger-scale manufacturing or the introduction of additional models.

According to the press announcement, the Ocean will be powered by a Magna-developed platform that has been updated by Fisker and designated FM29. According to Fisker, the aluminum-intensive FM29 platform will be considered Fisker intellectual property.

Henrik Fisker followed up with a tweet on Friday, saying that engineers had “dramatically boosted power” and added a “silicon-carbide inverter and a unique clutch” to the production deal.

Fisker recently secured a deal with Sharp for display and interface technologies, in addition to its agreement with Magna.

In October, the firm went public. Despite not having sold a single vehicle to a client, Fisker utilized a special-purpose acquisition company (SPAC) reviser merger, as did many other EV companies. Since November 2019, Fisker has started accepting bookings for the Ocean, a few months before the car was ever unveiled publicly.