Foxconn, also known as Hon Hai Technology Group, announced that it signed a development and manufacturing agreement with Fisker. Foxconn is one of the world’s largest electronics manufacturers, and producer of Apple’s iPhone.
The cryptocurrency of car makers, Fisker has nothing to show for five years of existence. They’ve not produced anything in five years of existence, and they could be the most emotion-stirring, eco-friendly car company.
With Foxconn, Fisker might actually start and build the PEAR Project. PEAR is an acronym for personal electric automotive revolution. Like everything else from Fisker, they’re promising a ‘breakthrough’ EV.
Foxconn and Fisker are joint investors in PEAR, with each taking a share upon the program’s successful delivery. For not having a platform to now promising a new, lightweight one tabbed FP28, we’re wondering what expertise Fisker brings to this program, and to vehicle manufacturing in general.
“Our partnership with Foxconn and the creation of Project PEAR has taken shape with remarkable speed and clarity of vision,” Fisker Chairman and Chief Executive Officer, Henrik Fisker said.
Fisker’s product development, sourcing, and manufacturing capability will be tested, if they are to start building vehicles by the 4th quarter of 2023 as stated.
Likewise, Foxconn’s manufacturing expertise has been largely contingent upon their clients’ design capabilities. How this’ll play out with a carmaker who has never built Job 1 is anyone’s guess.
Fisker is hawking sales of more than 250,000 units annually, with multiple manufacturing sites. Manufacturing will start in the US, and grow from there, the company said.
Doing the math, Fisker said PEAR will start at less than $30,000, before incentives, $7.5 billion is gross sales. This would,”Enable us to deliver industry firsts at a price that opens up electric mobility to the mass market,” said Fisker.
There are recognizable industry veterans working at Fisker. so I ask myself, are they on to something? I guess we’ll see. Two years and counting.