Fisker and Foxconn sign framework agreements for Project PEAR; new FP28 platform
Fisker Inc. 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 breakthrough electric vehicle. (Earlier post.)
Under the agreements, Fisker and Foxconn will jointly invest into Project PEAR, with each company taking proceeds from the successful delivery of the program. Fisker will work with Foxconn on a new lightweight platform designated FP28, leveraging technological expertise from each company to support Project PEAR and potential future vehicles.
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 t
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Breakthrough new segment vehicle to be jointly developed and sold under the Fisker brand into global markets including North America, Europe, China, and India.
Manufacturing to commence first in the United States with several locations under consideration by Fisker and Foxconn. Other global manufacturing sites under study for future production, supporting projected annual volumes of more than 250,000 units across multiple sites.
Program milestones already achieved including exterior design freeze. Program critical sourcing underway, including securing chipset and semiconductor contracts through Foxconn.
Project PEAR will enter the market with a starting price of less than $30,000, before incentives.
Fisker Inc. (NYSE:FSR) (Fisker) – passionate creator of the world s most sustainable electric vehicles and advanced mobility solutions – today announced it has signed framework agreements with Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting joint development
Fisker, Foxconn Firm Up Plan For Sub-$30,000 EV, Target U.S. Production By Late 2023
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Fisker Inc., the Los Angeles-based electric vehicle startup led by auto designer Henrik Fisker, firmed up plans to produce a mass-market EV with manufacturing giant Foxconn and start building it in the U.S. by late 2023–potentially at Foxconn’s underutilized industrial site in Wisconsin.
The companies signed an agreement for the so-called Project PEAR (an acronym for personal electric automotive revolution) Thursday and said they intend to sell the small, five-passenger vehicle with a starting price below $30,000. The two companies are jointly investing in the project and collaborating to ensure they can deliver a relatively low-cost, easy-to-build vehicle.
Electric car startup Fisker is working with contract manufacturer Foxconn on the development and volume manufacturing of its second electric vehicle by 2024