Fisker Inc., the Southern California-based electric vehicle company, is making progress towards finalizing a manufacturing agreement with Foxconn for its PEAR EV. Henrik Fisker, the CEO and Chairman of Fisker Inc., revealed that talks are advancing well, and the plan is to manufacture the PEAR in Foxconn’s facility in Ohio. While no formal manufacturing agreement has been signed yet, Fisker expressed optimism that an agreement will be reached soon, as they are in the final stages of negotiations.
The goal is to start production of the PEAR in 2025, with an initial target of July for the start date, according to an earlier announcement from the company. The manufacturing would take place at the former General Motors small-car plant in Lordstown, which was acquired by Foxconn. This facility already produces an electric farm tractor and previously manufactured the Endurance pickup truck for Lordstown Motors Corp.
In addition to the PEAR, Fisker Inc. is also in discussions with Foxconn regarding manufacturing the Alaska, a battery-powered pickup truck that made its public debut in August. Fisker mentioned that they are considering collaborating with original equipment manufacturers (OEMs) to produce the Alaska on their factory floors.
Fisker Inc. recently showcased the PEAR and Alaska at its Grove Lounge in Los Angeles. The PEAR features innovative elements such as a transparent A-pillar to enhance driver visibility during left-hand turns and a cockpit compute system called the Fisker Blade, which is a high-performance computer.
The PEAR is expected to have a starting price of $29,000 before incentives, while the Alaska will be available for $45,400, also before incentives. Both vehicles are projected to go into production in 2025, with the Alaska scheduled for the first quarter of that year.
Fisker Inc. reported positive numbers in its third-quarter financial report, with 4,725 Ocean vehicles, its electric SUV, produced during the period. This was a significant increase compared to the second quarter, which saw only 1,022 units produced. The company delivered 1,097 Ocean vehicles in the third quarter, showing steady progress. Overall, Fisker Inc. recorded revenue of $71.8 million for the quarter, a considerable improvement from the $825,000 in the second quarter. However, the company did report a net loss of $91 million for the period.
With ongoing negotiations and positive developments, Fisker Inc. and Foxconn are inching closer to finalizing their manufacturing agreement for the PEAR EV. The collaboration holds potential for both companies to establish a strong presence in the electric vehicle market and contribute to the sustainable automotive revolution.
Overall, Fisker Inc.’s progress in securing a manufacturing agreement with Foxconn in Ohio for the PEAR EV shows promising prospects for the future of electric vehicles and foreshadows a potential revolution in the automotive industry.
