Fisker is working with Foxconn on a breakthrough EV

While the world awaits its first production-ready electric car, automaker Fisker has clinched an agreement with iPhone manufacturer Foxconn to develop a second vehicle. Not one to shy away from hype, Fisker says Foxconn will annually build 250,000 of the “breakthrough” EVs, with production slated to begin in the fourth quarter of 2023. For those tracking its progress, that’s roughly a year after its inaugural crossover Ocean SUV is expected to be available to the public for a sub-$40,000 price tag.

The Foxconn collab — codenamed Project PEAR for Personal Electric Automotive Revolution — is eyeing a global rollout that includes North America, Europe, China, and India and will be sold under the Fisker brand. Currently, the companies are operating under a memorandum of understanding, with plans to enter into a formal agreement in the second quarter of this year.

In terms of the new EV’s design, all we have to go by is the above sketch. Following in Tesla’s footsteps, could this be its take on a pickup truck? For now, the EV maker is keeping mum “until the last possible moment,” according to co-founder Henrik Fisker.

Having gone public in October, Fisker said it could devote all its attention to developing and launching the Ocean SUV. The company previously revealed that it was targeting a four-car range by 2025.