Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

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.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
×