Fisker and Foxconn sign an agreement for the development of sub USD 30,000 EVs

14 May 2021, 05:03:26

Fisker has announced it has signed framework agreements with Foxconn (Hon Hai Technology Group) for the joint development and manufacturing of EVs under the Project PEAR (Personal Electric Automotive Revolution). This project includes the joint work on a new lightweight platform designated FP28. The aim is to introduce breakthrough vehicles priced at under USD 30,000. Production is scheduled to start in the US in Q4 of 2023. Fisker intends to start production in Europe on its first vehicle, the Ocean electric SUV, in Q4 2022 and will unveil a production-intent prototype of the vehicle at the Los Angeles Auto Show later this year. Project PEAR will be the company's second production model.

"Our partnership with Foxconn and the creation of Project PEAR has taken shape with remarkable speed and clarity of vision," said Henrik Fisker, chairman and CEO of the US-based Fisker. "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."

"Foxconn is excited that our partnership with Fisker continues to trend in the right direction with exciting speed," said the Taiwan-based Foxconn's chairman Young-way Liu. "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."

"At under $30,000 with stunning design and innovation, we are rethinking the car, both in terms of proportions, design, interior functionality and connected user experience. Project PEAR comes just a year after we launch the Ocean," added Fisker. "We see the tipping point for electric vehicles fast approaching and we are utterly focused on being ready to meet that demand. The Fisker brand will go beyond electrification, by taking the lead in design innovation and sustainability."

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