California-based electric vehicle company Fisker has announced its plans to build a ‘breakthrough’ new electric car in collaboration with electronics manufacturer Foxconn, which is best known for producing iPhones and Xbox consoles.
Fisker, which is currently developing its all-electric Ocean SUV, has its sights set on disrupting “every convention in the auto industry” with its next vehicle, codenamed ‘Project PEAR’ (Personal Electric Automotive Revolution).
The project is said to be a ‘breakthrough new segment vehicle’ and sollowing the signing of the MOU, teams from Fisker and Hon Hai Technology Group, also known as Foxconn, will establish several workstreams focused on design, technology, engineering, and manufacturing.
Henrik Fisker, Fisker chairman and chief executive officer, said: “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.”
Only a very rudimentary sketch alludes to the design of the vehicle, and it will likely remain shrouded in mystery for as long as possible, revealed Fisker:
“The design sketch hints at the direction we are taking. However, with the level of innovation planned for this vehicle, I intend to keep the final design a surprise until the last possible moment!”
The vehicle to be jointly developed and sold under the Fisker brand, with Foxconn to manufacture the vehicle at projected annual volumes of more than 250,000, aimed at a global market scope – including North America, Europe, China, and India.
The projected start of production is Q4 2023 and Due to the rapid development schedule, both companies expect to conclude discussions and enter into a formal partnership agreement during Q2 2021.
The new collaboration between Foxconn and Fisker will revolutionize the automotive industry model by introducing ICT capabilities – which help automakers accelerate their transition to new, innovative, and efficient manufacturing processes and business models. “The collaboration between our firms means that it will only take 24 months to produce the next Fisker vehicle – from research and development to production, reducing half of the traditional time required to bring a new vehicle to market,” said Foxconn Technology Group chairman, Young-way Liu.