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Los-Angeles based EV start-up Fisker and manufacturing powerhouse Foxconn have reached an agreement to make sub-$30k EVs for Europe, North America, China and India.
Fisker, Foxconn Firm Up Plan For Sub-$30,000 EV, Target U.S. Production By Late 2023
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Fisker Inc.
Fisker Inc., the Los Angeles-based electric vehicle startup led by auto designer Henrik Fisker, firmed up plans to produce a mass-market EV with manufacturing giant Foxconn and start building it in the U.S. by late 2023–potentially at Foxconn’s underutilized industrial site in Wisconsin.
The companies signed an agreement for the so-called Project PEAR (an acronym for personal electric automotive revolution) Thursday and said they intend to sell the small, five-passenger vehicle with a starting price below $30,000. The two companies are jointly investing in the project and collaborating to ensure they can deliver a relatively low-cost, easy-to-build vehicle.