Manhattan Beach, California — The manufacturing company that has been making your iPhone for over a decade is in line to make your car too.
Foxconn, the world’s largest contract electronics manufacturer signed a deal with Fisker to begin making electronic vehicles in 2023.
The exact location of the new U.S plant has yet to be announced, but Fisker Chief Executive Henrik Fisker said four states are under consideration, including Foxconn’s plant site in Wisconsin.
Young-way Liu, Foxconn Technology Group Chairman says that because of Foxconn’s experience with shorter product cycles and overall production speed they will succeed in the auto industry, and may even influence other manufacturers.
“The collaboration between our firms means that it will only take 24 months to produce the next Fisker vehicle from research and development to production, reducing half of the traditional time required to bring a new vehicle to market,” said Liu.
While the vehicle type has not yet been identified, Fisker said the five-passenger vehicle might be described by some as a crossover.
Foxconn, Apple’s largest supplier, entering the automotive industry could make it easier for Apple to enter the market.
The announcement of this partnership came after Fisker made public its deal with Canadian auto supplier Magna. Magna, an automotive supplier based out of Aurora Ontario, will be manufacturing the new Ocean SUV beginning in late 2022.
Fisker said that the Foxconn deal will not affect the Magna deal.
The final production version of the Ocean SUV will be presented at the Los Angeles auto show this November.