At the company’s Product Vision Day on Thursday, EV startup Fisker provided additional information regarding the $29,900 Pear electric social life crossover vehicle. That information included a confirmation that Foxconn, the manufacturer of consumer electronics best known for producing Apple iPhones, will be building the car at its Lordstown, Ohio, manufacturing plant.
The Foxconn transaction wasn’t finalised yet, according to founder and CEO Henrik Fisker, who told TechCrunch in early August. Fisker was confident that the two would come to an agreement, but there were still a lot of unresolved issues, notably with regard to supplier costs.
Expected Production Timeline and Insights from IAA Mobility 2023
In order to construct an electric vehicle for less than $30,000, a feat no other EV manufacturer has been able to do, Fisker will need to get those things in order. Tesla, known as one of the best startups, managed to destroy the sub-$30,000 Model S in 2022 before it got started, and General Motors’ $26,595 Bolt turned out to be a money pit for the firm.
This year, Fisker has already produced and delivered several hundred fewer vehicles than anticipated. Additionally, Foxconn hasn’t always been other companies’ most trustworthy partners. Following Foxconn’s acquisition of Lordstown Motors’ Ohio factory and its offer to produce the ailing automaker’s Endurance pickup truck there, Lordstown Motors filed for bankruptcy and is suing the Taiwanese corporation, alleging that Foxconn made a long list of “broken promises.”
Additionally, Foxconn recently pulled out from a $19.5 billion agreement alongside Vedanta just recently and infamously fell short of fulfilling its promises to construct a manufacturing facility in Wisconsin that would bring about 13,000 jobs, in order to come under the eyes of venture capital startup.
Pear’s announcement on Thursday raises the possibility that the two may have found common ground, however, neither Fisker nor Foxconn have officially confirmed to TechCrunch that the purchase has been completed.
In July 2025, according to Fisker, the Pear will start to be produced and delivered.
At the IAA Mobility 2023 convention in Munich this September, the car will be unveiled in public in a production-intent configuration. The company claims it has found a way to cut the number of pieces in the Fisker Pear’s body construction, which is comprised of light steel, by 35%. According to Fisker, this will also facilitate and speed up the Pear’s construction.