Fisker’s cars aren’t on the road yet, but the company is already getting good mileage out of its latest partnership. Longtime iPhone assembler Foxconn signed up to produce 250,000 Fisker vehicles annually.
The electric car company, which outsources its manufacturing, focusing instead on software and design, already has a maker for its first model, the Fisker Ocean. Foxconn will build its second model, believed to be a larger vehicle, starting in Q4 2023.
Fisker, which went public via a SPAC merger in October, saw its shares jump 18% after the partnership was announced. Electric auto tech also lies at the heart of Fisker’s efforts in racing.
In July, Fisker committed to participate in the Extreme E off-road race series, in which custom-made electric off-road vehicles will race in remote locations, while filmed by drones.
Races in Saudi Arabia, Senegal, Greenland, and Brazil are slated for later this year. Seven-time Formula 1 champion Lewis Hamilton formed a race team–X44–to compete in the series.
Apple is long rumored to be working on an electric, autonomous vehicle. Foxconn’s expansion from iPhones to auto manufacturing with Fisker would make it a natural fit, should those Apple rumors come to fruition.