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<\/p>\nFeb 26, 2021<\/p>\n
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Hon Hai Precision Industry Co (\u9d3b\u6d77\u7cbe\u5bc6) is to develop an electric vehicle (EV) with Fisker Inc, as part of the electronics manufacturer\u2019s efforts to boost its automotive capabilities at a time when technology companies including its main customer, Apple Inc, are looking to expand into vehicles.<\/p>\n
The vehicle would be targeted at multiple markets, including North America, Europe, China and India, and sold under the Fisker brand, the firms said in a statement on Wednesday.<\/p>\n
Production is set to start in the fourth quarter of 2023.<\/p>\n
Californai-based Fisker is looking to break new ground with its second planned model. The start-up plans to make a vehicle that does not fit into an existing segment, like a sedan or SUV.<\/p>\n
Its partnership with Hon Hai is pinned on hopes that the collaboration would bring innovative manufacturing.<\/p>\n
\u201cThe auto industry is very stale,\u201d Fisker founder Henrik Fisker said in an interview.<\/p>\n
\u201cWe still talk about adopting the Toyota manufacturing system,\u201d he said, referring to a production and logistics concept that was developed decades ago.<\/p>\n
Fisker plans to design and market the vehicle, while Hon Hai would supply the chassis, and manage supply chain and assembly.<\/p>\n
That is asking a lot of a firm that has never built vehicles in large volume before.<\/p>\n
\u201cI have full confidence that they can do this and maybe have ideas that are outside the box,\u201d Fisker said of Hon Hai.<\/p>\n
Shares of Fisker rose 39 percent to a record US$22.58 at the close in New York. Hon Hai shares advanced as much as 5 percent in Taipei.<\/p>\n
Hon Hai in October last year introduced its first-ever EV chassis and a software platform aimed at helping automakers bring models to the market faster.<\/p>\n
This month, Hon Hai chairman Young Liu (\u5289\u63da\u5049) said that two light vehicles based on the platform would be unveiled in the fourth quarter.<\/p>\n
The firm is also planning to help launch an electric bus, he said.<\/p>\n
Hon Hai is expected to build more than 250,000 vehicles annually for the Fisker partnership, the statement said.<\/p>\n
The manufacturer might choose to make some of them in the US, a person familiar with the matter said.<\/p>\n
Following Wednesday\u2019s memorandum of understanding, the two sides said that they would enter a formal agreement in the second quarter.<\/p>\n
Fisker is the second battery-powered vehicle venture founded by its namesake founder, a longtime vehicle designer. Its debut model, the Ocean electric SUV, is scheduled to start production late next year.<\/p>\n