© Fisker Inc. Electronics Production | May 14, 2021
Foxconn and Fisker to produce EVs in U.S. from Q4 2023
Fisker and Foxconn will jointly develop a vehicle under the Fisker brand that will be sold in the North America, Europe, China and India. Potential US manufacturing sites are currently under review under consideration by the companies.
Fisker has signed framework agreements with Hon Hai Technology Group (Foxconn) supporting joint development and manufacturing related to Project ‘PEAR’ (Personal Electric Automotive Revolution), a program to develop a new electric vehicle. Under the agreements, Fisker and Foxconn will jointly invest into the project, with each company taking proceeds from the successful delivery of the program, a press release reads. “Foxconn is excited that our partnership with Fisker continues to trend in the right direction with exciting speed. Our work with Fisker aligns with our corporate 3+3 platform, and thanks to our MIH Alliance, Foxconn will be able to work with suppliers from across the world for Project PEAR. We have world-class supply chains in place to support Project PEAR – in particular, securing the reliable delivery of chipsets and semiconductors”, says Foxconn Technology Group Chairman, Young-way Liu. The two companies have established a co-located program management office between the U.S. and Taiwan to coordinate design, engineering, purchasing, and manufacturing operations. Following an extensive review of potential U.S. manufacturing sites, the parties will expedite a manufacturing plan capable of supporting the projected Q4 2023 start of production. Fisker intends to start production in Europe on its first vehicle, the Ocean electric SUV, in Q4 2022. “In order to deliver on our promise of product breakthroughs from Project PEAR, we needed to rethink every aspect of product development, sourcing, and manufacturing. Our partnership with Foxconn enables us to deliver those industry firsts at a price point that truly opens up electric mobility to the mass market,” says Fisker Chairman and Chief Executive Officer, Henrik Fisker.