Fisker and Foxconn sign deal to build electric vehicles – TechCrunch

Electric car startup Fisker signed an agreement with Foxconn, the Taiwanese company that assembles iPhones, to jointly design and manufacture a new electric vehicle. Production of the car, which will be sold under the Fisker brand name in North America, Europe, China and India, will begin in the United States in late 2023.

Numerous details, including the name of the car and the location of future manufacturing facilities, have not been disclosed by the two companies. The form factor is referred to by Fisker as a “groundbreaking new segment vehicle”, so neither a sedan nor an SUV that can carry five people, a Fisker spokesman told TechCrunch.

Fisker calls the joint program Project PEAR, which stands for Personal Electric Automotive Revolution. Henrik Fisker, Chairman and CEO of Fisker, bragged that the PEAR vehicle will be the “next big thing in car design,” a car that is both “emotionally desirable” and “environmentally friendly,” which means that one Car does not call “Look at” I’m electric! “and rather appeals to the driver who drives over from gasoline vehicles, so a spokesman for Fisker

The two companies had signed a letter of intent in February stating the expectation that a formal agreement would be reached by then. The agreement signed on Thursday includes the goal of producing 250,000 units annually at multiple locations. In January, Foxconn partnered with Chinese automaker Zhejiang Geely Holding Group to create a joint venture to provide manufacturing and advisory services to automakers. Therefore, the contract with Fisker is one of the company’s first forays into the automotive industry.

“To deliver on our promise of product breakthroughs from Project PEAR, we had to rethink every aspect of product development, sourcing and manufacturing,” said Henrik Fisker, chairman and CEO of Fisker, in a statement. “Our partnership with Foxconn enables us to offer these industry premieres at a price that really opens up electric mobility to the mass market.”

According to Fisker, who announced the uniqueness and innovation of his car’s designs, the price of the new vehicle will be under $ 30,000. Fisker will also begin production of its first Ocean model, an electric SUV, in Europe late next year. The company also plans to release a prototype Ocean at the Los Angeles Auto Show later this year.

“We have world-class supply chains to support the PEAR project – particularly to ensure the reliable supply of chipsets and semiconductors,” said Young-way Liu, chairman of Foxconn, in a statement.

Liu noted how Foxconn Project can connect PEAR with suppliers around the world through its open software and hardware platform for electric vehicles, MIH, which aligns with the company’s “3 + 3” vision symbolizing infinite technological and industrial advancement going through the platform.

Foxconn and Fisker are still looking for potential manufacturing locations in the US. So they set up an office between the US and Taiwan to coordinate engineering, engineering, purchasing, and manufacturing.

This article has been updated to reflect new information from Fisker.

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