Foxconn Fisker Joint Venture, Febuary 2021
Foxconn Fisker Joint Venture, Febuary 2021

Foxconn & Fisker Ink New Deal to Manufacture EV’s by 2023

iPhone Maker Foxconn, to build cars for Fisker Automotive

The world’s largest electronics contract manufacturer, Foxconn Technology Group, has taken up the task of assembling cars for Fisker Inc. With this latest contract, the iPhone maker, will now make its foray into the automotive industry.

The tech giant based out of Taipei in Taiwan, and Fisker Automotive from Los Angeles, California have entered into an agreement to jointly put together upwards of 250,000 passenger cars annually, both the organizations have said during a press release on Wednesday

Under this contract, Foxconn would deliver Fisker’s second production mass-market EV. Fisker Inc would like to begin manufacturing the vehicle in the final quarter of 2023. The car is going to be built on the automotive foundations devised by Foxconn and will be sold throughout North America, India, China, and Europe.

The Fisker deal represents the latest deal in a series of auto company tie-ups that Foxconn has established in order to collaborate, develop and build cars. Previous JV’s included the China’s, Zhejiang Geely Holding Group and the former Fiat-Chrysler Automobiles N.V. – Now STELLANTIS N.V.

Over the past few years, a few EV start-ups, like Fisker, have predominantly focused on designing their vehicles whilst deciding to outsource manufacturing, hence challenging the traditional approach in the automotive industry, wherein most established automakers have almost always designed, developed, and built their own vehicles in house.

Source: Press Release