Wednesday, February 24, 2021

Fisker Links With Foxconn On New EV

Los Angeles-based electric vehicle developer Fisker and electronics manufacturing giant Foxconn are in a new deal to develop a new, electric vehicle, the two said on Wednesday. According to Hon Hai Technology Group, the parent company of Foxconn, and Fisker, they have signed a Memorandum of Understanding (MOU) on a global electric vehicle project. According to the two, they will create a new "breakthrough electric vehicle" which will be manufactured by Foxconn and will be delivered to "multiple global markets", and developed and sold under the Fisker brand. Financial details of the deal were not announced. The two said the project annual volumes of more than 250,000 of the vehicles, with product starting in Q4 of 2023.