Fisker and Foxconn Sign Framework Agreements for Project PEAR; Confirming Manufacturing to Start in U.S. from Q4, 2023
Publish Date :2021/05/14
Source: Foxconn
Fisker Inc. passionate creator of the world's most sustainable
electric vehicles and advanced mobility solutions – announced it 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.
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.
“Our partnership with Foxconn and the creation of Project PEAR has taken
shape with remarkable speed and clarity of vision,” commented Fisker Chairman
and Chief Executive Officer, Henrik Fisker. “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 the mass market.”
“Foxconn is excited that our partnership with Fisker continues to trend in
the right direction with exciting speed,” said Foxconn Technology Group
Chairman, Young-way Liu. “Our work with Fisker aligns with our corporate 3+3
platform, and thanks to our MIH Alliance, Foxconn will be able to work with
suppliers from across the world for Project PEAR. We have world-class supply
chains in place to support Project PEAR – in particular, securing the reliable
delivery of chipsets and semiconductors."
In support of the work on Project PEAR, the two companies have established a
co-located program management office between the U.S. and Taiwan to coordinate
design, engineering, purchasing, and manufacturing operations. Following an
extensive review of potential U.S. manufacturing sites, the two companies will
expedite a manufacturing plan capable of supporting the projected Q4 2023 start
of production. Fisker intends to start production in Europe on its first
vehicle, the Ocean electric SUV, in Q4 2022 and will unveil a production-intent
prototype of the vehicle at the Los Angeles Auto Show® later this year. Project
PEAR will be the company’s second production model.
“At under $30,000 with stunning design and innovation, we are rethinking the
car, both in terms of proportions, design, interior functionality and connected
user experience. Project PEAR comes just a year after we launch the Ocean,"
added Mr. Fisker. “We see the tipping point for electric vehicles fast
approaching and we are utterly focused on being ready to meet that demand. The
Fisker brand will go beyond electrification, by taking the lead in design
innovation and sustainability.”
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