• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
Computer Business World News

Computer Business World News

Trending News about Computers, Business and Tech

  • Home
  • BUSINESS
  • CAREERS
  • CLOUD
  • COMPUTERS
  • CYBERSECURITY
  • I.T.
  • TECH
  • VOIP
  • About

Fisker shares surge on electric car deal with Apple iPhone assembler Foxconn

by

The New York Stock Exchange welcomes Fisker Inc. (NYSE: FSR), today, Monday, November 9, 2020, in celebration of its recent IPO.

Source: NYSE

Shares of electric vehicle start-up Fisker surged more than 20% in morning trading Wednesday after the company announced a manufacturing deal with Foxconn Technology Group.

The two companies have signed a memorandum of understanding for the Taiwan-based electronics contract manufacturer, best known for assembling Apple iPhones, to produce more than 250,000 electric vehicles a year for Fisker, according to a joint announcement Wednesday from the companies.

Fisker, which went public through a reverse merger last year, has a market cap of $5.26 billion.

Assembly of the vehicle is expected to start in the fourth quarter of 2023, according to the companies. Officials provided few other details about the planned EV other than it will be for a “new segment vehicle.”

“We will create a vehicle that crosses social borders, while offering a combination of advanced technology, desirable design, innovation and value for money, whilst delivering on our commitment to create the world’s most sustainable vehicles,” Fisker CEO Henrik Fisker said in a statement.

The companies said the deal – codenamed “Project PEAR” (Personal Electric Automotive Revolution) – is expected to close in the second quarter of this year. It would be Fisker’s second major deal in recent months. The company already has a deal with auto supplier Magna to produce the Fisker Ocean, its first expected vehicle.

Magna and Fisker expect to start production on the Ocean in the fourth quarter of 2022. The Ocean will initially be manufactured exclusively by Magna in Europe.

View Source

Filed Under: BUSINESS

Primary Sidebar

More to See

Russian millionaire on trial in hack, insider trade scheme

BOSTON -- A wealthy Russian businessman and associates made tens of millions of dollars by cheating the stock market in an elaborate scheme that … [Read More...] about Russian millionaire on trial in hack, insider trade scheme

After ‘The Voice’ and BET, two Mississippians give one last concert before heading to L.A. – Magnolia State Live

After ‘The Voice’ and BET, two Mississippians give one last concert before heading to L.A. Published 6:45 am Monday, January 30, 2023 … [Read More...] about After ‘The Voice’ and BET, two Mississippians give one last concert before heading to L.A. – Magnolia State Live

CSH Triples Its Computing Power

by Jake W Streamer | published Jan. 30th, 2023 … [Read More...] about CSH Triples Its Computing Power

Footer

SITE INFORMATION

COMPUTER BUSINESS WORLD NEWS

About/Contact

Privacy Policy

Thank you for visiting our website.

Recent

  • Feb 2 | New Year = New Career!
  • Russian millionaire on trial in hack, insider trade scheme
  • After ‘The Voice’ and BET, two Mississippians give one last concert before heading to L.A. – Magnolia State Live

Search

Copyright © 2023 Computer Business World