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In this weeks Axios Navigate Newsletter, Joann Muller discusses recent Events at Fisker and the sea change impacting the automotive industry.

Car designer Henrik Fisker this week raised more than $1 billion for his namesake electric car company, but unlike other EV entrepreneurs attracting capital recently, making cars is not part of his plan.

Why it matters: In an industry ripe for reinvention, Fisker’s aim is to become the Apple of the automotive world — a fabless manufacturer that designs and markets cool cars but farms out the production to others, avoiding the huge capital outlays and manufacturing pitfalls that have dogged Tesla for a decade.

The big picture: We’re on the cusp of a historic shift to electric, self-driving cars. But the burden of technology investments is overwhelming for many, requiring even the world’s biggest auto giants to partner up on redundant development.

The entire article can be read here.