Fisker and Foxconn Set to Collaborate on Electric Vehicle Project

Fisker Inc. (NYSE: FSR) (Fisker) – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles, and advanced mobility solutions – today announced it has entered into a MOU with Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting a project to develop a breakthrough electric vehicle. Highlights of the proposed collaboration, codenamed ‘Project PEAR’ (Personal Electric Automotive Revolution):

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Fisker Inc. (NYSE: FSR) (Fisker) – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles, and advanced mobility solutions – today announced it has entered into a MOU with Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting a project to develop a breakthrough electric vehicle. Fisker and Foxconn to jointly develop a breakthrough new segment vehicle. Foxconn to manufacture the vehicle at projected annual volumes of more than 250,000. Global market scope – including North America, Europe, China, and India. Projected start of production is Q4 2023; this will be the second vehicle introduced by the Fisker brand, following the launch of the Ocean SUV in Q4 2022. (Graphic: Business Wire)

- Fisker and Foxconn to jointly develop a breakthrough new segment vehicle.
- Foxconn to manufacture the vehicle at projected annual volumes of more than 250,000.
- Global market scope – including North America, Europe, China, and India.
- Projected start of production is Q4 2023; this will be the second vehicle introduced by the Fisker brand, following the launch of the Ocean SUV in Q4 2022.

“We created our company to disrupt every convention in the auto industry,” commented Fisker Chairman and Chief Executive Officer, Henrik Fisker. “The creation of Project PEAR with Foxconn brings together two likeminded and complementary companies, each focused on creating new value in a traditional industry. We will create a vehicle that crosses social borders, while offering a combination of advanced technology, desirable design, innovation and value for money, whilst delivering on our commitment to create the world’s most sustainable vehicles.”