Electric automaker Fisker Inc has finalized its vehicle-assembly deal with Foxconn Technology including strategies to open a U.S. plant in 2023, the companies said on Thursday.
The plant’s location has not been identified, but Fisker CEO Henrik Fisker said four states are under consideration, including Foxconn’s plant site located in Wisconsin. Foxconn Chairman Liu Young-way earlier said electric vehicles (EVs) have a “promising future” in Wisconsin.
The annual capacity for the U.S. plant will be at least 150,000 automobiles to start, Fisker said.
“When you look back at recent history and new technology products, they have been introduced in the U.S. first,” Fisker said in an interview. “That’s why we want to launch here.” He expects the U.S. market initially to be the biggest for the vehicle.
Fisker also cited access to Foxconn’s supply chain, including semiconductor chips, as an advantage of the partnership.
The automaker is one of the EV startups that have gone public through a reverse merger with a special-purpose acquisition company (SPAC) at a time when U.S. President Joe Biden has called for $174 billion in new spending to increase EVs and charging.
Under the Fisker deal, the companies will jointly make investments in “Project PEAR” (Personal Electric Automotive Revolution) and share in any profit. The companies confirmed Foxconn will eventually build over 250,000 vehicles annually for Fisker throughout multiple sites, with initial production starting at its U.S. plant in 2023 which it announced in February.
