Apple supplier Foxconn teams up with Fisker to make electric vehicles


    Electric-car maker Fisker said it will work with Apple supplier Foxconn to produce more than 250,000 vehicles a year beginning in late 2023.

    The deal, codenamed “Project PEAR” (Personal Electric Automotive Revolution), is looking at markets globally, including North America, Europe, China and India, Fisker said.

    Foxconn, Apple’s main iPhone maker, has ramped up its interest in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers Zhejiang Geely Holding Group and Stellantis’ Fiat Chrysler unit.

    Sources have said Apple is targeting 2024 to produce a passenger vehicle.

    Foxconn aims to provide components or services to 10 per cent of the world’s EVs by 2025 to 2027, Chairman Liu Young-way said in October.

    The Taiwan-based company’s approach poses a major threat to established automakers that technology companies such as Apple and other non-traditional players could use contract assemblers as a shortcut to competing in the vehicle market.

    Fisker Chief Executive Henrik Fisker told Reuters that Foxconn is more than just a contract manufacturer under this deal and is developing the vehicle with the startup. He expects the deal to be finalized in the second quarter and to last about seven years. Terms of the deal were not disclosed.

    Fisker said the new vehicle would be “futuristic” and “something completely different,” as well as “affordable.” It will launch in the fourth quarter of 2023, and is one of the four vehicles Fisker previously said it would introduce by 2025, he said.

    “We’re not just going to make another electric car,” Henrik Fisker said in an interview. “We want to introduce things that probably will almost feel a little scary to some people.”

    Fisker said in December that Canadian auto supplier Magna International Inc would initially manufacture its first vehicle, the Ocean SUV, in Europe. The production is on track to start in the fourth quarter of next year, said Henrik Fisker, who added that the Foxconn deal does not affect those plans.



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