Electric-car maker Fisker said it will work with Apple supplier Foxconn to produce more than 250,000 vehicles a year beginning in late 2023, sending its shares up 18%.
The deal, codenamed “Project PEAR” (Personal Electric Automotive Revolution), is looking at markets globally, including North America, Europe, China and India, Fisker said.
Foxconn, Apple’s main iPhone maker, has ramped up its interest in electric vehicles over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers Zhejiang Geely Holding Group and Stellantis NV’s Fiat Chrysler unit.
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