US-based electric vehicle maker Fisker has signed framework agreements with Hon Hai Technology Group (Foxconn) supporting joint development and manufacturing related to Project ‘PEAR’ (Personal Electric Automotive Revolution), a program to develop a new breakthrough electric vehicle.
Fisker and Foxconn will jointly invest into Project PEAR, with each company taking proceeds from the successful delivery of the program. Fisker will work with Foxconn on a new lightweight platform designated ‘FP28,’ leveraging technological expertise from each company to support Project PEAR and potential future vehicles.
“Our partnership with Foxconn and the creation of Project PEAR has taken shape with remarkable speed and clarity of vision,” commented Fisker Chairman and CEO, Henrik Fisker. “In order to deliver on our promise of product breakthroughs from Project PEAR, we needed to rethink every aspect of product development, sourcing, and manufacturing. Our partnership with Foxconn enables us to deliver those industry firsts at a price point that truly opens up electric mobility to the mass market.”
“Foxconn is excited that our partnership with Fisker continues to trend in the right direction with exciting speed,” said Foxconn Technology Group Chairman, Young-way Liu. “Our work with Fisker aligns with our corporate 3+3 platform, and thanks to our MIH Alliance, Foxconn will be able to work with suppliers from across the world for Project PEAR. We have world-class supply chains in place to support Project PEAR – in particular, securing the reliable delivery of chipsets and semiconductors."
The two companies have set up a co-located program management office between the U.S. and Taiwan to coordinate design, engineering, purchasing, and manufacturing operations. Following a review of potential U.S. manufacturing sites, they will expedite a manufacturing plan capable of supporting the projected Q4 2023 start of production.
“At under $30,000 (Rs 22 lakh) with stunning design and innovation, we are rethinking the car, both in terms of proportions, design, interior functionality and connected user experience. Project PEAR comes just a year after we launch the Ocean," added Mr. Fisker. “We see the tipping point for electric vehicles fast approaching and we are utterly focused on being ready to meet that demand. The Fisker brand will go beyond electrification, by taking the lead in design innovation and sustainability.”
Production-ready Ocean SUV at 2021 LA Show
Fisker intends to start production in Europe on its first vehicle, the Ocean electric SUV, in Q4 2022 and will unveil a production-intent prototype of the vehicle at the Los Angeles Auto Show later this year. Project PEAR will be the company’s second production model.