Hyperdrive
Fisker Soars as EV Deal With Foxconn to Include U.S. Factory
- Companies target start of production by fourth quarter of 2023
- Jointly developed vehicle to be priced below $30,000
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Fisker Inc.’s existing agreement to develop an electric vehicle with Foxconn Technology Group will now include a factory in the U.S.
The joint project -- codenamed Project PEAR -- is targeting a start of production in the U.S. by the fourth quarter of 2023, the companies said in a statement Thursday. The companies are considering multiple sites around the world to support eventual global manufacturing capacity of 250,000 units a year. The partners plan to unveil a prototype of their jointly developed car later this year.