Fisker Inc. Shares Rise After News of Collaboration With Foxconn
February 24 2021 - 1:01PM
Dow Jones News
By Stephen Nakrosis
Shares of electric vehicle maker Fisker Inc. are trading higher
on the New York Stock Exchange on Wednesday, following news the
company will collaborate with Hon Hai Technology Group, also known
as Foxconn, to develop an electric vehicle.
At 12:13 p.m. EST, shares of Fisker were trading 26.23% higher
at $20.56. Volume at the time topped 26.7 million shares, above the
65-day average volume of some 12.4 million shares.
The two companies said they signed a memorandum of
understanding, and added Foxconn will manufacture the vehicle "at
projected annual volumes of more than 250,000."
The companies also said production is projected to start in the
fourth quarter of 2023.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
February 24, 2021 12:46 ET (17:46 GMT)
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