Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Friday, Mar 29, 2024

IPhone builder Foxconn is working on an electric car with Fisker

IPhone builder Foxconn is working on an electric car with Fisker

Foxconn, the Taiwan-based electronics manufacturing company best known for assembling the Apple iPhone, is working on an agreement with the California electric car company Fisker to develop an electric vehicle, the companies announced Wednesday.

Fisker Inc. (SPAQ) went public last year through a SPAC merger with Spartan Energy Acquisition.

Founded by car designer Henrik Fisker, the company already has an agreement with Magna, an automotive contract manufacturing company. Magna is expected to start building the Fisker Ocean electric SUV by the end of 2022. The Ocean is based on engineering developed by Magna but modified by Fisker.

Fisker is now working on a similar arrangement with Foxconn, according to a joint press release from both companies. The companies announced a memorandum of understanding and did not reveal any financial terms of the potential deal.

The Fisker and Foxconn vehicle would be Fisker's second model after the Ocean. The two firms released few details other than a vague design sketch of the car. Fisker and Foxconn did not announce a target price for the vehicle they intend to work on.

Fisker and Foxconn released this sketch of their proposed electric vehicle.


"Not unlike when Isaac Newton realized the powers of gravity, the inspiration for this project has come from some unconventional sources," the release quoted Mr. Fisker as saying. "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!"

With large wheels and a body like a sports car, the sketch most closely resembles the coupé-shaped SUVs made by a number of luxury automakers, such as BMW and Mercedes-Benz.

The companies plan to produce more than 250,000 of the vehicles a year, according to Fisker, with production set to start by the end of 2023.

Foxconn Technology Group Chairman Young-way Liu touted the company's expertise in electric motors, control modules and batteries in a statement announcing the arrangement.

"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," Young-way Liu said in the statement.

At the beginning of 2020 Foxconn said it was looking into making electric vehicles with Fiat Chrysler Automobiles. FCA later merged with France's PSA to create Stellantis. Foxconn did not immediately reply to a request for updates on those plans. Nick Cappa, the Stellantis spokesman in the US, said he had no updates on those discussions.

In January, Foxconn announced a deal with Geely, the Chinese parent company of Volvo and Lotus, to develop and produce vehicles for other automakers.

Henrik Fisker, the founder of Fisker Inc., was once a designer for Aston Martin and BMW. He also designed the Fisker Karma for his previous car company, Fisker Automotive, which filed for bankruptcy protection in 2013 and its assets were eventually sold off.

To date, Fisker has 12,000 pre-paid reservations for the Fisker Ocean SUV at a cost of $250 each. Once in production, the SUV will sell for a starting price of $37,500 before tax incentives.

Newsletter

Related Articles

Hong Kong News
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
×