American automaker Fisker plans to work with Foxconn to build more than 250,000 electric vehicles (EVs) per year, starting in Q4 2023.
According to media reports, Foxconn, a major supplier for Apple products, has increased its stake in the EV space, striking deals with manufacturers like Geely and Stellantis. The Fisker-Foxconn deal is focused on the global market, covering North America, Europe, China, and India. The location of the plant has not been disclosed yet.
Notably, Apple also intends to build its first EV by 2024. Foxconn’s chairman Liu Young-way previously said that the company intends to supply components for 10pc of all EVs worldwide by 2025-27.
Fisker also has an ongoing deal with Canadian auto manufacturer Magna International to build its first electric SUV model, named Ocean, in Europe starting in Q4 2022.