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Discussion Starter · #1 ·
Fisker is partnering with Foxconn to develop a new EV. The project is codenamed "Project PEAR (Personal Electric Automotive Revolution).

The goal is to produce 250,000 vehicles a year for sale in North America, Europe, China, and India. Production is expected to start in Q4 2023. As part of the announcement they included a very interesting design that hints it could be a SUV/Crossover.


FISKER AND FOXCONN SET TO COLLABORATE ON ELECTRIC VEHICLE PROJECT

  • Fisker and Foxconn sign Memorandum of Understanding (MOU) in support of global electric vehicle project.
  • Will pioneer a new market segment and deliver industry-first innovations. Vehicle to be jointly developed and sold under the Fisker brand, including through the Fisker Flexee Lease program.
  • Manufactured by Foxconn and destined for multiple global markets.

LOS ANGELES / TAIPEI (Feb. 24, 2021) – Fisker Inc. (NYSE: FSR) (Fisker) – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles and advanced mobility solutions – today announced it has entered into a MOU with Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting a project to develop a breakthrough electric vehicle. Highlights of the proposed collaboration, codenamed ‘Project PEAR’ (Personal Electric Automotive Revolution):
  • Fisker and Foxconn to jointly develop a breakthrough new segment vehicle.
  • Foxconn to manufacture the vehicle at projected annual volumes of more than 250,000.
  • Global market scope – including North America, Europe, China, and India.
  • Projected start of production is Q4 2023; this will be the second vehicle introduced by the Fisker brand, following the launch of the Ocean SUV in Q4 2022.
“We created our company to disrupt every convention in the auto industry,” commented Fisker Chairman and Chief Executive Officer, Henrik Fisker. “The creation of Project PEAR with Foxconn brings together two likeminded and complementary companies, each focused on creating new value in a traditional industry. We will create a vehicle that crosses social borders, while offering a combination of advanced technology, desirable design, innovation and value for money, whilst delivering on our commitment to create the world’s most sustainable vehicles.”

“The Fisker and Foxconn partnership brings together two global leaders in innovation that will join forces to unlock the potential of the electric vehicle industry,” said Foxconn Technology Group Chairman, Young-way Liu. “Foxconn's participation in the electric vehicle industry delivers a refreshing thrust into the Information and Communication Technology (ICT) industry that is already focused on this exciting sector. The key success elements of electric vehicle development include the electric motor, electric control module and battery. We have two major advantages in this regard, with an exceptional vertically integrated global supply chain and the best supply chain management team in our industry. Coupled with our accumulated engineering capabilities, Foxconn has been critical to the success of many ICT companies over the past 40 years and we look forward to extending this success with Fisker.”

The new collaboration between Foxconn and Fisker will revolutionize the automotive industry model by introducing ICT capabilities – which help automakers accelerate their transition to new, innovative, and efficient manufacturing processes and business models. “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,” said Young-way Liu.

Fisker is projected to start production on its first vehicle, the Ocean electric SUV, in Q4 2022. Interest in the Ocean continues to build at an encouraging pace, with more than 12,000 global paid reservations as of today. Fisker plans to unveil a production-intent prototype of the Ocean later this year.

Following the signing of the MOU, teams from Fisker and Foxconn will establish several workstreams focused on design, technology, engineering, and manufacturing. Due to the rapid development schedule, both companies expect to conclude discussions and enter into a formal partnership agreement during Q2 2021.

“Not unlike when Isaac Newton realized the powers of gravity, the inspiration for this project has come from some unconventional sources,” added Mr. Fisker. “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!”

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This EV is expected to be afford and premium. I'm starting to think if it will be a Tesla Model 3 or Model Y rival.

"Speaking about the vehicle, Fisker recently told Auto News that the new model will cost “much less” than the Ocean which will start at $37,500 before the $7,500 federal tax credit. He added that despite its affordability, it will still be premium and have a design unlike any other car on sale.

“I can tell you it will be a body style that is not quite a one-box,” he said. “It will have such unique proportions that it will not fit in a segment. It won’t be a sedan, and it won’t be a pickup truck because it has to be a vehicle that will be driven by a lot of people. It will be somewhat smaller than the Ocean. When you see the vehicle, you will immediately realize there is nothing like it. And I think some people might find it a little too futuristic and a little too different in the beginning.”

“But I think that is necessary because we want to create a vehicle that goes across social borders. So we are not trying to make another traditional, slightly better-looking hatchback or something like that.”
 

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Discussion Starter · #3 ·
This EV is expected to be afford and premium. I'm starting to think if it will be a Tesla Model 3 or Model Y rival.

"Speaking about the vehicle, Fisker recently told Auto News that the new model will cost “much less” than the Ocean which will start at $37,500 before the $7,500 federal tax credit. He added that despite its affordability, it will still be premium and have a design unlike any other car on sale.

“I can tell you it will be a body style that is not quite a one-box,” he said. “It will have such unique proportions that it will not fit in a segment. It won’t be a sedan, and it won’t be a pickup truck because it has to be a vehicle that will be driven by a lot of people. It will be somewhat smaller than the Ocean. When you see the vehicle, you will immediately realize there is nothing like it. And I think some people might find it a little too futuristic and a little too different in the beginning.”

“But I think that is necessary because we want to create a vehicle that goes across social borders. So we are not trying to make another traditional, slightly better-looking hatchback or something like that.”
If it's going to cost less than the Ocean then it's definitely coming after the Model Y. I think Fisker would be better off making more SUVs than a sedan given the way the market is right now.
 
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