Foxconn to Manufacture Electric Vehicles for US-based Fisker

Fisker headquarters located in Manhattan Beach, Los Angeles, California. (Source: WSJ)

[Asia Economy Reporter Yujin Cho] Taiwanese Foxconn, the contract manufacturer of Apple iPhones, is set to produce electric vehicles for the American EV manufacturer Fisker, the Wall Street Journal (WSJ) reported on the 24th (local time).

According to the report, Foxconn and Fisker have agreed to jointly produce more than 250,000 electric vehicles annually and signed a memorandum of understanding (MOU) on the same day.

In a statement, Foxconn described the partnership with Fisker as "a collaboration between two leaders in innovation to unlock the potential of the electric vehicle industry."

The model produced by Foxconn will be Fisker's second electric vehicle model following the Ocean sport utility vehicle (SUV), with production set to begin in the fourth quarter of 2023. Although Foxconn did not disclose the production location, the Wisconsin plant in the U.S. appears to be the most likely site.

According to Fisker, the vehicles manufactured by Foxconn will be sold in North America, Europe, China, and India.

After Foxconn, which assembles and manufactures Apple's iPhones, announced plans to produce two types of electric vehicles, some in the market speculated that Foxconn might be contract manufacturing the 'Apple Car.'

Apple is known to have negotiated electric vehicle production with major automakers such as Hyundai Motor Company and Japan's Nissan, but these talks reportedly did not come to fruition.

Foxconn, the world's largest electronics original equipment manufacturer (OEM), established a joint venture last month with Chinese automaker Geely to enter the automotive sector as a new business.

The joint venture, funded equally by both companies at a 50-50 ratio, plans to manufacture and supply finished vehicles, parts, and smart control systems based on customer orders.

This content was produced with the assistance of AI translation services.