Foxconn, Fisker talks progress toward contract
LORDSTOWN — Talks on a manufacturing agreement between Foxconn and Fisker Inc. are progressing toward finalizing a contract, according to the chief executive of the Southern California-based electric-vehicle company.
“And of course, it is to manufacture the PEAR in the Foxconn facility in Ohio,” Henrik Fisker, Fisker Inc. CEO / chairman, said.
Fisker announced in May 2022 plans to have the PEAR (Personal Electric Automotive Revolution), a sporty crossover, made in Lordstown — the former General Motors small-car plant acquired by Foxconn. The companies, however, do not have a formal manufacturing agreement in place.
On Fisker Inc.’s recent third quarter earnings call, Fisker said, “We have to finalize an agreement for manufacturing this year.”
“So, I am quite optimistic that we are very close to finalizing an agreement,” Fisker said. “Obviously, we will announce it when it’s done. It is a complex agreement, but it’s definitely in its end phase.”
He added the target is to start producing vehicles in 2025, “as fast as we can make them.” A release from the company earlier this year stated production of the PEAR was expected to begin in July 2025.
At the 6.2 million-square-foot plant, Foxconn already is producing a battery-powered, driver-optional farm tractor, the MK-V, for Livermore, California-based Monarch Tractor. Foxconn also was producing the all-electric Endurance pickup truck in small numbers for Lordstown Motors Corp. at the facility until the company filed bankruptcy in June.
Fisker also said the company is talking with Foxconn about manufacturing the Alaska, a battery-powered pickup truck Fisker Inc. publicly debuted in August.
He said, “but we’re also talking to some OEMs (original equipment manufacturers) about sharing the Alaska platform and potentially building in their factory in the U.S. So that’s still on the table.”
The PEAR also made its public debut in August.
Fisker Inc. will show the PEAR and Alaska through Nov. 26 at its Grove Lounge in Los Angeles.
The company will display two new features on PEAR — a see-through A-pillar, intended to improve driver awareness and pedestrian safety when the vehicle is making a lefthand turn, and a cockpit compute system that is part of the Fisker Blade high-performance computer.
The PEAR is expected to be priced at $29,000 before incentives. The Alaska will go on sale for $45,400, also before incentives. The vehicle is expected to start production and deliveries in the first quarter of 2025.
Fisker Inc. also reported in its financial report that 4,725 Ocean vehicles, the company’s electric SUV, were produced in the third quarter that ended Sept. 30, up from 1,022 in the second quarter. There were 1,097 deliveries of the Ocean.
The company reported revenue of $71.8 million for the quarter compared to $825,000 in the second quarter. Fisker Inc. reported a net loss of $91 million, and the company spent $308.2 million on operating expenditures and $30.5 million on capital expenditures, the report states.