iPhone Manufacturer Foxconn To Make Electric Cars in India for American EV Startup Fisker

Taiwanese multinational electronics contract manufacturer, Foxconn, that mnufactures Apple's iPhone in India, will reportedly going to manufacture electric cars in the country, for California, U.S. -bsased Electric Vehicle (EV) Startup Fisker Inc., in the next couple of years.

According to a report by Economic Times, Fisker Inc will initially set up a technology centre in Hyderabad, with a roster of over 300 engineers, and within two years, in a manufacturing alliance with Foxconn, make the electric 'global vehicle' Pear in India.

Fisker Inc is an EV startup promoted by Henrik Fisker,  a renowned car designer known for designing luxury car models like BMW Z8, Aston Martin DB9. The startup was founded in 2016 by Fisker and his wife Geeta Gupta-Fisker, an India-born veteran financier and biotech PhD holder. 

Fisker is developing the Fisker Ocean, an all-electric SUV made from recycled and vegan materials, with an estimated range of 300-350 miles. The startup had even filed a patent (in 2017) for a car battery that has a range of 500 miles and can be charged in one minute.

Its Ocean model Ocean, is set for a global launch in November and will be imported in India as a completely built unit. The company is in the process of setting up a local entity, starting with the tech centre before it locally manufactures its second model called 'Pear', through its collaboration with Foxconn.

Fisker is Nasdaq-listed public company that raised more than $1 billion in its October 2020 IPO.

With the global electric cars adoption and as the all-electric SUV sector heats up with more competition, Fisker's Ocean SUV will compete with Tesla Model Y, Ford Mustang Mach-E.