Hon Hai Precision Industry Co (鴻海精密) is to develop an electric vehicle (EV) with Fisker Inc, as part of the electronics manufacturer’s efforts to boost its automotive capabilities at a time when technology companies including its main customer, Apple Inc, are looking to expand into vehicles.
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.
Production is set to start in the fourth quarter of 2023.
Photo courtesy of Hon Hai Precision Industry
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.
Its partnership with Hon Hai is pinned on hopes that the collaboration would bring innovative manufacturing.
“The auto industry is very stale,” Fisker founder Henrik Fisker said in an interview.
“We still talk about adopting the Toyota manufacturing system,” he said, referring to a production and logistics concept that was developed decades ago.
Fisker plans to design and market the vehicle, while Hon Hai would supply the chassis, and manage supply chain and assembly.
That is asking a lot of a firm that has never built vehicles in large volume before.
“I have full confidence that they can do this and maybe have ideas that are outside the box,” Fisker said of Hon Hai.
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.
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.
This month, Hon Hai chairman Young Liu (劉揚偉) said that two light vehicles based on the platform would be unveiled in the fourth quarter.
The firm is also planning to help launch an electric bus, he said.
Hon Hai is expected to build more than 250,000 vehicles annually for the Fisker partnership, the statement said.
The manufacturer might choose to make some of them in the US, a person familiar with the matter said.
Following Wednesday’s memorandum of understanding, the two sides said that they would enter a formal agreement in the second quarter.
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.
This week’s undoing of the TerraUSD algorithmic stablecoin and its sister token, Luna, has ramifications for all of crypto. First, there is the immediate impact: The rapid collapse of a once-popular pair of cryptocurrencies sent a ripple effect across the industry, contributing to plummeting coin prices that wiped hundreds of billions of market value from the digital-asset market and stoked worries over the potential fragility of digital-asset ventures. Then there are the knock-on effects. In addition to delivering punishing losses to individual users and investment firms, the spectacular failure of a market darling like Terra threatens to have a cooling effect
material SHORTAGE: Even as workers are about to return, Quanta lacks operating supplies, while Pegatron reported its lowest revenues in 11 quarters, the companies said Taiwan’s major Apple Inc supplier cut its outlook for the second quarter, joining a growing list of manufacturers warning about the fallout from lockdowns aimed at containing China’s worst COVID-19 outbreak in two years. Quanta Computer Inc (廣達電腦), which assembles MacBooks, expects a 20 percent quarterly fall in notebook shipments and a squeeze on margins this quarter due to the lockdown, a company representative said on Friday during an earnings call. The impact from supply chain disruptions could last until the end of the year, she said. The company’s Shanghai factory has been operating under tight restrictions since the middle of last month,
The US and the EU were yesterday to announce a joint effort aimed at identifying semiconductor supply disruptions as well as countering Russian disinformation, officials said. Top US officials are visiting the French scientific hub of Saclay for a meetup of the Trade and Technology Council, created last year as China increasingly exerts its technology clout. US officials acknowledged that Russia’s invasion of Ukraine has broadened the council’s scope, but said the Western bloc still has its eye on competition from China. The two sides will announce an “early warning system” for semiconductors supply disruptions, hoping to avoid excessive competition between Western powers
Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus vehicles in Taiwan, yesterday introduced Toyota Motor Corp’s first all-electric sports utility vehicle (SUV), the bZ4X, joining rivals in vying for a share of the nation’s fast-growing electric vehicle market. Starting today, the bZ4X, with a price tag of NT$1.599 million (US$53,780), would be available for online purchase only and customers need to download a special app to place orders, Hotai said. Hotai has received 300 of the electric SUVs, it said, adding that it is not enough to meet robust market demand. A total of 229 electric vehicles were sold in the