Electric-car maker Fisker Inc has announced that will team up with Apple Inc supplier Foxconn to manufacture over 250,000 vehicles a year beginning in late 2023.
The deal, codenamed “Project PEAR” (Personal Electric Automotive Revolution), is looking at markets globally, including North America, Europe, China and India, Fisker said.
Apple’s main iPhone maker has announced deals with the Chinese electric-car maker Byton and automakers Zhejiang Geely Holding Group and Stellantis NV’s Fiat Chrysler unit.
Foxconn has officially announced in the past that it is aiming to provide components or services to 10 per cent of the world’s EVs by 2025 to 2027.
The acceptance of Tesla worldwide has paved the way for other small-scale EV makers. The sector is booming, with Tesla Inc still the market leader. Earlier this week, luxury electric-car maker Lucid Motors announced plans to go public.