Foxconn to produce Fisker electric vehicles
It became known that Foxconn, one of Apple’s largest manufacturing partners, will produce Fisker electric vehicles. As part of the agreements reached, Foxconn will produce 250,000 Fisker electric vehicles annually, starting in 2023. Against this news’s backdrop, the value of Fisker shares jumped by more than 23% to $ 20.10 per share.
According to the founder of the company Henrik Fisker, the deal was concluded under a program codenamed Project PEAR (Personal Electric Automotive Revolution), aimed at supplying electric vehicles to markets in countries worldwide, including North America and Europe. As well as China and India. In December last year, it was announced that Magna International, which is one of the largest non-branded automakers in the industry, will produce the first Fisker Ocean electric car. Produces cars for other companies. The new agreement may be part of plans to expand the Fisker range.
This is not the first time Foxconn has shown interest in the electric vehicle industry. It was announced last week that the first electric vehicles powered by Foxconn’s own platform would arrive in the second half of this year. Besides, the Taiwanese manufacturing giant has struck several deals with major automakers, including China’s Byton and Geely. Foxconn also intends to provide components and services for 10% of the world’s electric vehicles by 2025–2027.
