- Breakthrough new segment vehicle to be jointly developed and
sold under the Fisker brand into global markets including North
America, Europe, China, and India.
- Manufacturing to commence first in the United States with
several locations under consideration by Fisker and Foxconn. Other
global manufacturing sites under study for future production,
supporting projected annual volumes of more than 250,000 units
across multiple sites.
- Program milestones already achieved including exterior design
freeze. Program critical sourcing underway, including securing
chipset and semiconductor contracts through Foxconn.
- Project PEAR will enter the market with a starting price of
less than $30,000, before incentives.
Fisker Inc. (NYSE: FSR) (Fisker) – passionate creator of the
world's most sustainable electric vehicles and advanced mobility
solutions – today announced it has signed framework agreements with
Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting joint
development and manufacturing related to Project ‘PEAR’ (Personal
Electric Automotive Revolution), a program to develop a new
breakthrough electric vehicle.
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the full release here:
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Breakthrough new segment vehicle to be
jointly developed and sold under the Fisker brand into global
markets including North America, Europe, China, and India.
Manufacturing to commence first in the United States with several
locations under consideration by Fisker and Foxconn. Other global
manufacturing sites under study for future production, supporting
projected annual volumes of more than 250,000 units across multiple
sites. (Photo: Business Wire)
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.”
For more information, or for interview inquiries, contact
Fisker@GoDRIVEN360.com.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive
industry by developing the most emotionally desirable and
eco-friendly electric vehicles on Earth. Passionately driven by a
vision of a clean future for all, the company is on a mission to
become the No. 1 e-mobility service provider with the world’s most
sustainable vehicles. To learn more, visit www.FiskerInc.com – and
enjoy exclusive content across Fisker’s social media channels:
Facebook, Instagram, Twitter, YouTube and LinkedIn. Download the
revolutionary new Fisker mobile app from the App Store or Google
Play store.
About Foxconn Technology
Group
Established in Taiwan in 1974, Hon Hai Technology Group
(Foxconn) (2317: Taiwan) is the world’s largest electronics
manufacturer. Foxconn is also the leading technological solution
provider, and it continuously leverages its expertise in software
and hardware to integrate its unique manufacturing systems with
emerging technologies. To learn more, visit www.honhai.com
Forward-Looking Statements
This press release includes forward-looking statements, which
are subject to the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements may be
identified by words such as “feel,” “believes,” expects,”
“estimates,” “projects,” “intends,” “should,” “is to be,” or the
negative of such terms, or other comparable terminology and
include, among other things, the quotations of our Chief Executive
Officer and statements regarding the Company's future performance
and other future events that involve risks and uncertainties. Such
forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties, which could cause
actual results to differ materially from the forward-looking
statements contained herein due to many factors, including, but not
limited to: Fisker’s limited operating history; Fisker’s ability to
enter into additional manufacturing and other contracts with Magna,
or other OEMs or tier-one suppliers in order to execute on its
business plan; the risk that OEM and supply partners do not meet
agreed upon timelines or experience capacity constraints; Fisker
may experience significant delays in the design, manufacture,
regulatory approval, launch and financing of its vehicles; Fisker’s
ability to execute its business model, including market acceptance
of its planned products and services; Fisker’s inability to retain
key personnel and to hire additional personnel; competition in the
electric vehicle market; Fisker’s inability to develop a sales
distribution network; and the ability to protect its intellectual
property rights; and those factors discussed in Fisker’s Annual
Report on Form 10-K under the heading “Risk Factors,” filed with
the Securities and Exchange Commission (the “SEC”) and other
reports and documents Fisker files from time to time with the SEC.
Any forward-looking statements speak only as of the date on which
they are made, and Fisker undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210513006048/en/
Fisker Inc. Simon Sproule, SVP, Communications +1.310.374.6177 /
ssproule@fiskerinc.com
Dan Galves, VP, Investor Relations dgalves@fiskerinc.com
FiskerIR@icrinc.com
Foxconn Technology Group Jimmy Huang, Deputy Spokesperson,
Corporate Communication +866.2.2268.3466 / media@foxconn.com
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