EV Production to Start in 2023
EV units will be designed and built by the tech company and sold under the Fisker brand, the two companies said in a joint statement today. The production is expected to begin in 2023 and will target several markets, including North America, Europe, China, and India.
“We created our company to disrupt every convention in the auto industry. The creation of Project PEAR with Foxconn brings together two likeminded and complementary companies, each focused on creating new value in a traditional industry. We will create a vehicle that crosses social borders, while offering a combination of advanced technology, desirable design, innovation and value for money, whilst delivering on our commitment to create the world’s most sustainable vehicles,” said Henrik Fisker, chairman and CEO of the EV business.
Back in October, Taiwanese company introduced its first electric vehicle chassis and a software platform in a bid to help makers of EV units launch their models faster. Last week, Foxconn chairman Young Liu said the company will roll out two new light electric vehicles that use the Foxconn platform in Q4 2021. The tech company also plans to launch an electric bus around the same time
Two companies agreed to build over 250,000 vehicles per year and have agreed to sign a formal agreement in the second quarter of this year. Fisker represents the second EV business founded by car designer Henrik Fisker after filing for bankruptcy in 2013 for his first denture Fisker Automotive.
The California-based automaker is expected to start manufacturing its first model Ocean SUV in late 2022. The deal with the tech business represents the second major partnership for the EV business since its public debut last year when it said Canadian manufacturer Magna International would help build the Ocean SUV.
Similarly, Foxconn struck a deal last month with Chinese EV startup Byton, under which the manufacturer will begin mass production of the Byton M-Byte by Q1 of next year. Just a week later, the Taiwanese tech business announced a partnership with Geely to offer production and consulting services to global carmakers.
A major tech business and Foxconn’s biggest client, Apple, has also announced its plan to launch its own electric car named “Apple Car.” Since then, the tech company has been boosting its automotive capabilities to become a contender to build cars for Apple, which still hasn’t picked a car manufacturer for building its Apple Car as its development work is still in an early phase.
Apple supplier Foxconn announced its partnership with EV company Fisker to incorporate electric vehicles as a part of the manufacturer’s efforts to expand its automotive capabilities.
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Adriana is a journalist with a passion for reporting on business leadership and a diverse interest in multiple industries.